Mentioned:
Robinhood is making new bets on private technology companies. But, why?
What’s happening:
- Robinhood’s (NASDAQ: HOOD) Robinhood Ventures Fund I has officially purchased equity in Stripe and ElevenLabs
By the numbers:
- Robinhood Ventures Fund I purchased roughly $14.58M USD in Stripe’s Class B common stock and approximately $20M USD in ElevenLabs Series D preferred shares
Why it matters:
- Robinhood Ventures Fund I is aiming to be one of the first publicly traded investment funds in North America that is solely focused on giving individual investors access to high growth, venture backed startups
Going deeper:
- Multiple notable private technology companies are now holding in Robinhood Ventures Fund I including Airwallex, Boom, Databricks, Oura, Ramp and Revolut
- Robinhood recently launched their IPO financing round for Robinhood Ventures Fund I which is being led by Goldman Sachs and will enable them to begin trading on the New York Stock Exchange
