Group 1 - Robinhood Ventures Fund I (RVI) has closed investments in Stripe and ElevenLabs, marking its first fund activity since trading began on the New York Stock Exchange on March 6, 2026 under the symbol RVI [1] - On March 9, 2026, RVI purchased $14,577,645 of Class B Common Stock of Stripe Global Holdings Inc. in secondary transactions; Stripe is a financial services company founded in 2010, providing a range of products for businesses [1] - On March 12, 2026, RVI acquired $19,999,971.34 of Series D Preferred Stock of ElevenLabs in a primary transaction; ElevenLabs focuses on AI research and products related to audio and voice technology [1] Group 2 - Stripe operates with dual headquarters in South San Francisco and Dublin, offering services that include payments, revenue management, and money management for businesses of all sizes [1] - ElevenLabs, founded in 2022 and based in London, serves millions of users and thousands of businesses through platforms like ElevenAgents, ElevenCreative, and ElevenAPI, which facilitate voice and chat deployment, content generation, and access to AI audio models [1]

Investment Overview - Robinhood Ventures Fund I has closed investments in Stripe and ElevenLabs, marking its entry into the market with a focus on innovative companies in fintech and AI [2][3] - The fund began trading on the New York Stock Exchange under the symbol RVI on March 6, 2026 [2] Investment in Stripe - On March 9, 2026, Robinhood Ventures Fund I purchased $14,577,645 of Class B Common Stock of Stripe Global Holdings Inc. in secondary transactions [3] - Stripe, founded in 2010, provides a suite of financial services for businesses of all sizes, including payments and revenue management [3] Investment in ElevenLabs - On March 12, 2026, the fund acquired $19,999,971.34 of Series D Preferred Stock of ElevenLabs in a primary transaction [4] - ElevenLabs, established in 2022, focuses on AI research and products related to audio and voice, serving millions of users and thousands of businesses [4] Fund Composition - Robinhood Ventures Fund I includes a concentrated portfolio of private companies such as Airwallex, Boom, Databricks, ElevenLabs, Mercor, Oura, Ramp, Revolut, and Stripe, with plans for future additions [5] Accessibility of the Fund - Unlike traditional private market vehicles, Robinhood Ventures Fund I is designed to be accessible to retail investors, with no accreditation requirements or investment minimums [6]

Core Insights - ElevenLabs, a UK-based AI audio unicorn, has completed a $500 million Series D funding round, achieving a valuation of $11 billion, which represents a more than 230% increase from its valuation of $3.3 billion at the beginning of last year [1][2] - The company is considering an IPO and has raised a total of $781 million since its inception in 2022 [1][2] Company Overview - Founded in 2022 in London, ElevenLabs initially focused on text-to-speech models and has since expanded into various audio generation fields, including speech-to-text, AI sound effects, dubbing, and music models [2] - The company provides voice API services to enterprises and offers an audio generation platform called ElevenCreative for creators and brands [2] - By the end of 2025, ElevenLabs is projected to exceed an annual recurring revenue (ARR) of $330 million [2] Growth and Market Position - ElevenLabs has rapidly gained traction, reaching over 1 million users within six months of launch and accumulating over 33 million users by November 2024 [5] - The company has established itself as a leader in the global AI audio sector, leveraging effective marketing strategies and a strong product offering [3][9] Strategic Focus - ElevenLabs aims to address the broader issue of human interaction with technology, moving beyond just audio models to develop conversational AI agents [10][11] - The company has shifted its focus towards deploying dialogue intelligence and enhancing user interaction with technology products [11] Competitive Advantage - ElevenLabs differentiates itself by combining AI models with product development, rather than solely focusing on computational power or data volume [14] - The company emphasizes the importance of model architecture and has recruited top talent in the field to drive innovation [6][14] Future Directions - With the new funding, ElevenLabs plans to accelerate the development of its intelligent agent products and introduce new dialogue models for better emotional understanding and expression [14][15] - The company is expanding internationally, establishing localized marketing teams in various global cities to enhance its market presence [15]