How can ordinary investors get exposure to Cognition?

Through Robinhood Ventures Fund I, a publicly traded closed-end fund that began trading in March and holds stakes in private companies.

What other companies does the fund hold?

The holdings include Databricks, Revolut, and ElevenLabs, among others.

How fast is Cognition growing?

Cognition said its annualized revenue run rate had reached almost $900 million, up from $492 million in May.

AI Coding AssistantsFortune AI2m agoOct 23, 2026, 22:01 JST

Robinhood puts $10 million into AI coding startup Cognition

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3 Key Points

What happened
Robinhood Ventures disclosed a $10 million check to Cognition, maker of the Devin AI coding tool, as part of the startup's September Series E round, which raised more than $2 billion at a $48 billion valuation.
Why it matters
The bet gives retail investors exposure to a startup whose annualized revenue run rate reached almost $900 million, up from $492 million in May, through a publicly traded fund.

WHO IT HITSEveryday investors who can buy shares of Robinhood Ventures Fund I, a publicly traded closed-end fund, gain indirect exposure to hot private AI companies.

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Context & Analysis

The investment adds to Robinhood's growing portfolio of AI bets, following a $75 million investment in OpenAI back in April. Sarah Pinto, head of Robinhood Ventures, said the firm does not see AI coding as a winner-take-all market, noting that Robinhood's own engineers use multiple AI coding tools. She also pointed to Cognition cofounder and CEO Scott Wu's consistent vision as a factor in the decision.

The Cognition stake is held through Robinhood Ventures Fund I, a closed-end fund that began trading in March. The fund's net asset value jumped about 17% for the quarter ended September 30, its biggest quarterly increase to date.

FAQ

How can ordinary investors get exposure to Cognition?: Through Robinhood Ventures Fund I, a publicly traded closed-end fund that began trading in March and holds stakes in private companies.
What other companies does the fund hold?: The holdings include Databricks, Revolut, and ElevenLabs, among others.
How fast is Cognition growing?: Cognition said its annualized revenue run rate had reached almost $900 million, up from $492 million in May.

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