Robinhood Venture Fund Invests $35 Million, Betting on Stripe and AI Company ElevenLabs

BlockBeats News, March 17th, Robinhood's Robinhood Ventures Fund I announced it has invested approximately $35 million in total in two tech companies, including payment giant Stripe and AI audio company ElevenLabs.

Specifically, the fund acquired about $14.6 million of Stripe's Class B common stock and invested $20 million in ElevenLabs' Series D preferred stock. Stripe is currently valued at around $159 billion and holds the stablecoin platform Bridge.

Robinhood stated that the fund aims to allow retail investors to indirectly invest in private tech companies that were previously only open to institutions through fund products traded on the New York Stock Exchange.