SKN | Robinhood Expands Venture Fund With Stripe and ElevenLabs Stakes

Key Points:

• Robinhood’s new venture fund invested $14.6 million in Stripe and $20 million in ElevenLabs.

• The fund allows retail investors to gain exposure to private companies before they go public.

• It trades on the New York Stock Exchange and expands access to a traditionally exclusive market.

Robinhood Pushes Into Private Markets

Robinhood is expanding its reach into private markets through its newly launched venture vehicle, Robinhood Ventures Fund I (RVI), which has disclosed its first major investments.

The closed-end fund recently acquired approximately $14.6 million worth of shares in Stripe and invested $20 million in preferred stock of ElevenLabs.

The move signals Robinhood’s broader strategy to give everyday investors access to high-growth private companies that have traditionally been limited to institutional and wealthy investors.

A New Way for Retail to Access Private Companies

Robinhood Ventures Fund I began trading on the New York Stock Exchange on March 6, offering a novel structure for retail participation in venture-style investments.

Unlike traditional venture capital funds, RVI allows shares to be bought and sold like publicly traded stocks, lowering barriers to entry for individual investors.

The fund also does not require investors to be accredited and avoids performance fees, making it more accessible compared to conventional private market vehicles.

Inside the Latest Investments

The investment in Stripe was executed through a secondary transaction, meaning shares were purchased from existing shareholders rather than directly from the company.

Founded in 2010, Stripe provides payments infrastructure and financial software used by businesses worldwide.

Meanwhile, ElevenLabs — a fast-growing artificial intelligence startup founded in 2022 — received primary capital from Robinhood’s investment, meaning the funds go directly to the company.

ElevenLabs specializes in voice generation and AI-driven audio tools, enabling applications such as conversational agents and multilingual media content.

Building a Broader Private Portfolio

The new investments add to an expanding portfolio that already includes major private firms such as Databricks, Revolut, Ramp and Oura.

Robinhood has indicated that additional investments are expected as it continues building exposure across high-growth sectors like fintech and artificial intelligence.

Responding to a Shift in Capital Markets

The launch of RVI reflects a broader shift in global capital markets.

The number of publicly listed companies in the United States has declined over the past two decades, while private markets have grown into a roughly $10 trillion ecosystem.

This shift has increasingly limited retail investors’ ability to participate in early-stage growth opportunities.

Robinhood CEO Vlad Tenev has emphasized that the initiative is designed to close that gap, giving everyday investors access to opportunities once reserved for institutions.

Blending Public and Private Investing

Robinhood’s venture fund represents a hybrid approach that blends elements of public market liquidity with private market exposure.

The company has previously experimented with similar ideas, including offering tokenized shares of private companies to European users — a move that drew regulatory scrutiny.

With RVI now active and deploying capital, Robinhood is doubling down on its vision of democratizing access to private investments.

As interest in both fintech and AI continues to surge, the fund’s early bets on Stripe and ElevenLabs position it at the intersection of two of the most closely watched sectors ahead of potential future public listings.