Robinhood’s ( HOOD ) newly launched venture fund has added equity stakes in Stripe and ElevenLabs, marking its first disclosed investments since beginning trading earlier this month.
Robinhood Ventures Fund I (RVI), a closed-end fund designed to give retail investors exposure to private companies, said it bought about $14.6 million in Stripe stock and $20 million in ElevenLab preferred stock in transactions completed in March.
The fund began trading on the New York Stock Exchange on March 6, part of Robinhood’s broader effort to open private markets to everyday investors. Shares in the fund can be bought and sold like a traditional stock, providing access to companies typically limited to institutional investors and the wealthy.
Founded in 2010, Stripe provides payments and financial software used by businesses ranging from startups to large corporations. The investment was made through a secondary transaction, meaning Robinhood bought shares from existing owners rather than directly from the company.
ElevenLabs, a London-based artificial intelligence company founded in 2022, focuses on voice and audio technology. Its tools allow companies and developers to generate speech, build conversational agents, and create media content across dozens of languages. Robinhood’s investment was part of a seed funding round, meaning the capital goes directly to the company.
The additions expand a portfolio that already includes private companies such as Databricks, Revolut, Ramp and Oura, with more investments expected over time.
Robinhood has positioned the fund as a response to a shift in capital markets. The number of publicly traded companies in the U.S. has declined over the past two decades, while private markets have grown to an estimated $10 trillion, limiting access for retail investors.
“For decades, wealthy people and institutions have invested in private companies, while retail investors have been locked out,” CEO Vlad Tenev said earlier.
Unlike traditional venture funds, Robinhood’s vehicle does not require investors to be accredited and does not charge performance fees, lowering the barrier to entry.
The strategy follows the company’s previous efforts to offer private market exposure, including tokenized shares in high-profile firms, to users in Europe, an initiative that drew scrutiny over how those products were structured.
With the latest investments, Robinhood signals that it plans to continue building a portfolio of private companies across fintech and artificial intelligence, two sectors that continue to attract strong investor interest ahead of potential public IPOs.
Shares of HOOD rose 2% Tuesday to $76.78. RVI was lower by 0.4%.
