Key insights
- Robinhood Ventures Fund I (RVI) invested $34.6M in Stripe and ElevenLabs. While this signals Robinhood's confidence in these companies, the fund's "Weak" financial health score and concentrated private market exposure suggest limited direct impact on broader US equity markets. The fund's structure allows retail investors access to private markets, potentially influencing future investment trends.
MENLO PARK, Calif. - Robinhood Ventures Fund I (NYSE:RVI) completed investments in payment processor Stripe and artificial intelligence company ElevenLabs, according to a press release statement.
The fund purchased $14.6 million of Stripe’s Class B Common Stock through secondary transactions on March 9. Stripe, founded in 2010 with headquarters in South San Francisco and Dublin, provides payment processing and financial services to businesses.
On March 12, RVI acquired approximately $20 million of ElevenLabs’ Series D Preferred Stock in a primary transaction. ElevenLabs, founded in 2022 and based in London, develops AI audio technology including voice agents, content creation tools, and developer APIs across more than 70 languages.
Since its March 6 trading debut, RVI shares have shown modest momentum, currently trading at $22.50, up 7% year-to-date. The fund is trading near its 52-week high of $23.62 with average daily volume of 1.11 million shares.
RVI began trading on the New York Stock Exchange on March 6 under the ticker symbol RVI. The closed-end fund holds a portfolio of nine private companies including Airwallex, Boom, Databricks, Mercor, Oura, Ramp, and Revolut.
The fund is structured to allow retail investors to access private market investments without accreditation requirements or investment minimums. Robinhood Ventures DE, LLC serves as the investment adviser for the fund and is a wholly owned subsidiary of Robinhood Markets, Inc.
InvestingPro assigns RVI a "Weak" financial health score, reflecting the fund’s early-stage status and concentrated private market exposure.
The fund’s structure includes a management fee but no performance fees. Additional portfolio companies are expected to be added over time, though the fund noted that such statements involve risks and uncertainties.
Investors can purchase or sell RVI shares through brokers or intermediaries. The fund discloses information through its website and the Robinhood Newsroom in compliance with SEC Regulation Fair Disclosure.
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