Robinhood Venture Fund's $75M stake in OpenAI aims to enable retail investments

Robinhood Ventures Fund I (RVI), a publicly traded closed-end fund that offers retail investors access to private equity investments, announced a $75 million investment in OpenAI.

The company announced on Wednesday that it purchased $75 million of the AI developer's common stock, which will be used as the underlying asset to give Robinhood clients price exposure to OpenAI via the fund's venture tokens.

The investment is “one of RVI’s largest investments to date,” according to RVI president Sarah Pinto, who added that the tokens aim to democratize access to private investing.

Shares of RVI were trading more than 14% higher on Wednesday, to $27.85 at the time of publication, according to data from Yahoo Finance.

Source: Yahoo Finance

Robinhood’s private equity tokens for retail investors have raised regulatory questions about the legal rights of token holders and how price exposure through tokens differs from holding private equity in a company, which is reserved for qualified investors.

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Robinhood announces private equity tokens for retail, but legal issues abound

Robinhood distributed OpenAI and SpaceX tokens to users in June 2025 as part of its rollout of tokenized stock trading for users in the European Union.

However, OpenAI immediately responded to the announcement, warning that the tokens do not represent a private equity stake in the company.