NYSE-listed Robinhood fund invests $35M in Stripe, ElevenLabs

Robinhood’s exchange-traded Ventures Fund I reported about $35 million in purchases of private-company shares, acquiring $14.6 million of Stripe Class B common stock and $20 million of ElevenLabs Series D preferred shares. The fund trades on the New York Stock Exchange.

The vehicle launched earlier this month and is designed to give individual investors exposure to privately held firms through a publicly traded product. Robinhood positions the fund to target financial technology and artificial intelligence companies.

Stripe, a payments company valued at $159 billion, owns the stablecoin platform Bridge. ElevenLabs develops artificial intelligence tools for audio, voice and realistic speech, according to Robinhood.

Beyond Stripe and ElevenLabs, disclosed holdings include Revolut, Airwallex, Boom, Databricks and Ramp.

When the fund was announced last year, CEO Vlad Tenev remarked, “For decades, wealthy people and institutions have invested in private companies while retail investors have been unfairly locked out. With Robinhood Ventures, everyday people will be able to invest in opportunities once reserved for the elite.”

Robinhood operates a retail trading app and in recent years has expanded crypto-related offerings as highlighted in our Robinhood review. The new fund packages shares of private companies into a format available on public markets.