Robinhood Invests in OpenAI, Offers Retail Investors a New Vehicle
OpenAI remains a private company whose equity has long been held mainly by large institutions and high-net-worth investors. Robinhood Markets’ Robinhood Ventures Fund I (RVI), which listed on the New York Stock Exchange on March 6, 2026, gives retail investors indirect exposure to the growth and risks of private companies including OpenAI through a closed-end fund.
RVI completed a $75 million investment in OpenAI on April 17, 2026, and announced the deal on April 22. The fund’s IPO was priced at $25 per share, giving it an initial size of $658.4 million. Investors are buying shares in RVI, not equity in OpenAI or newly issued OpenAI tokens.
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The history behind this eventRobinhood Venture Fund Unveils First Investments in Stripe and ElevenLabs
Robinhood Ventures Fund I (RVI) is Robinhood Ventures’ first closed-end fund and began trading on the New York Stock Exchange on March 6, 2026. Investors can trade fund shares like stocks, gaining indirect exposure to equity in private companies. The model lowers the barriers to private markets, which have traditionally been dominated by institutions and accredited investors, but also carries risks from opaque valuations and market prices that may diverge from net asset value.
RVI announced its first investments on March 17, 2026. It purchased Class B common stock in Stripe Global Holdings for $14,577,645 in a secondary-market transaction on March 9. On March 12, it invested about $20 million in a primary transaction involving AI voice startup ElevenLabs, acquiring Series D preferred shares. The two investments totaled about $34.58 million.
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