On March 17, 2026, the NYSE-listed closed-end fund Robinhood Ventures Fund I (ticker: RVI) announced it had invested approximately $34.58 million in payments giant Stripe and AI audio company Elevenlabs. The move aims to break down long-standing institutional barriers in private markets, allowing everyday investors to participate in high-growth technology companies.
Deal Details: $14.58M in Stripe Secondary, $20M in Elevenlabs Primary
According to official disclosures, RVI acquired Stripe Class B common stock through secondary transactions on March 9 for $14.58 million. This purchase followed Stripe's February tender offer, which valued the company at $159 billion. Founded in 2010 and headquartered in South San Francisco and Dublin, Stripe provides programmable financial services spanning payments, revenue tools, and money management for businesses of all sizes.
The second investment took place on March 12, when RVI purchased Elevenlabs Series D preferred stock in a primary transaction for nearly $20 million. Elevenlabs, a London-based AI firm founded in 2022, focuses on voice synthesis and audio generation. The company had just raised $500 million in its Series D round at an $11 billion valuation.
"We're excited to add Stripe and Elevenlabs to Robinhood Ventures Fund I and are proud to offer retail investors access to these frontier companies," said Sarah Pinto, president of the fund, in a statement.
A New Model: Retail Access Without Accreditation
RVI launched earlier this month with an IPO priced at $25 per share, raising approximately $658 million to $706 million. Unlike traditional venture funds, RVI is structured to trade on the NYSE, allowing retail investors to buy shares without accredited investor status or minimum investment thresholds. This model directly challenges the traditional barriers to private market entry.
The fund's disclosed portfolio now includes Airwallex, Boom, Databricks, Mercor, Oura, Ramp, Revolut, and Stripe, with more companies expected over time. RVI publishes material updates through its website and Robinhood's newsroom to comply with Regulation Fair Disclosure.
Risks and Rewards: A Double-Edged Sword
While RVI lowers the entry barrier, it explicitly warns investors about trade-offs: private company exposure comes with illiquidity, valuation uncertainty, and the possibility that shares trade at a discount or premium to net asset value. RVI also departs from traditional venture economics by charging a management fee but no performance fees.
As Robinhood pushes further into blending public markets with private opportunities, the key question remains: Are everyday investors ready for the volatility and opacity that typically accompany such assets? Financial technology is breaking down boundaries faster than ever, but the true investment wisdom may lie in understanding that "easy access" does not equal "low risk."