Robinhood Ventures Fund I invests in Cognition and Erebor Bank

Robinhood Ventures Fund I (RVI) has announced two significant investments in frontier technology companies. The fund closed a $10 million investment in Cognition, a company that developed Devin, the first autonomous software engineer. Cognition, which recently surpassed a $1 billion annualized revenue run rate, provides AI agents capable of planning, writing, testing, and shipping production code for major institutions such as Goldman Sachs and Mercedes Benz.

Additionally, Robinhood Ventures Fund I purchased $30 million of preferred stock in Erebor Bank, a US-based nationally chartered lender. Founded in 2025, Erebor Bank focuses on serving the innovation economy, specifically targeting defense technology, hard tech, and crypto businesses. The bank provides blockchain-enabled payments, crypto-backed loans, and financing for AI infrastructure. Erebor Bank holds a full OCC national charter and FDIC insurance, with a deposit base exceeding $7 billion.