Robinhood Ventures Fund I purchased about $75 million of OpenAI common stock on April 17, the fund announced April 22.
The fund, which trades on the New York Stock Exchange under the ticker RVI, is structured as a closed-end fund designed to give retail investors access to private companies. It carries no accreditation requirements, no investment minimums, and no performance fees, the company said.
"OpenAI is one of the frontier artificial intelligence companies, and we are incredibly proud to add them to the Fund," Sarah Pinto, president of Robinhood Ventures Fund I, said in a statement. "As one of RVI's largest investments to date, this underscores our core mission to provide everyday investors with access to what we believe are transformative companies shaping the future."
OpenAI joins a portfolio that includes Airwallex, Boom, Databricks, ElevenLabs, Mercor, Oura, Ramp, Revolut, and Stripe, according to the company.
The OpenAI purchase comes against the backdrop of earlier friction between the two companies. Per CNBC, tension flared last summer when Sam Altman and OpenAI objected to Robinhood's decision to offer European users tokenized shares of OpenAI and SpaceX, with the AI company arguing that such tokens carried no actual equity interest.
RVI began trading on the NYSE on March 6, 2026. The fund is managed by Robinhood Ventures, a wholly owned subsidiary of Robinhood Markets, which operates as the registered investment adviser under the doing-business-as name Robinhood Ventures DE, LLC.
The fund's structure reflects a broader push to open private markets to everyday investors. The number of publicly traded companies in the U.S. has fallen from about 7,000 in 2000 to about 4,000 in 2025, the company said. As of April 2024, private companies with last 12-month revenue exceeding $100 million outnumbered public companies by more than six to one, and the estimated value of U.S. private firms surpassed $10 trillion in the first quarter of 2025, according to the company.