Robinhood Fund Invests $75 Million in OpenAI

Robinhood's newly launched venture fund announced a $75 million investment in OpenAI on Wednesday, providing retail investors indirect access to the prominent artificial intelligence company through a publicly traded vehicle.

The investment was made by Robinhood Ventures Fund I, a closed-end fund that began trading on the New York Stock Exchange under the ticker RVI in March. Structured to offer exposure to private, high-growth companies, the fund acquired common stock in OpenAI, marking one of its largest positions to date. RVI's portfolio already includes stakes in firms such as Databricks, Stripe, Revolut, ElevenLabs, Airwallex, Boom, Mercor, Oura and Ramp. Unlike traditional private equity vehicles, the fund requires no investor accreditation or minimum investment amounts, allowing everyday traders to participate via standard brokerage accounts and eliminating performance-based fees.

"OpenAI is one of the frontier artificial intelligence companies, and we are incredibly proud to add them to the Fund," said Sarah Pinto, president of Robinhood Ventures Fund I, in a statement. She added that the move "underscores our core mission to provide everyday investors with access to...