Robinhood Ventures Fund I Invests $10 Million in AI…
By Rick Steves
AI summary of the source article
Robinhood Ventures Fund I has invested approximately $10 million in Cognition, the developer of autonomous software engineering tool Devin. The deal expands the listed closed-end fund's portfolio of private technology and artificial intelligence companies.
Why it matters
The investment gives the listed fund's shareholders exposure to a privately held business without requiring them to buy shares directly in Cognition.
Key facts
- Robinhood Ventures Fund I invested approximately $10 million in Cognition, developer of AI software engineer Devin.
- Cognition was founded in 2024 and reported crossing $1 billion in annualized revenue run rate.
- RVI is a closed-end fund traded on the NYSE that offers retail investors exposure to private companies with no accreditation requirement or performance fee.
Source excerpt · FinanceFeeds
Robinhood Ventures Fund I has invested approximately $10 million in Cognition, the developer of the autonomous software engineering tool Devin. The investment adds another artificial intelligence company to the listed fund’s portfolio and gives its shareholders exposure to a privately held business without requiring them to buy shares directly in Cognition.Sarah Pinto, President of Robinhood Ventu…