February 28, 2024

The OpenAI Startup Fund is securing another $10 million

OpenAI CEO Sam Altman.
Andrew Caballero Reynolds/AFP via Getty Images

The OpenAI Startup Fund is not directly affiliated with OpenAI, but is affiliated with the company.

The fund raised $175 million last year to invest in artificial intelligence companies.

Since then, he has co-led investments in legal technology startup Harvey and healthcare company Ambiance, among other companies.

This is a machine translation of an article from our American colleagues at Business Insider. Automatically translated and reviewed by an editor.

OpenAI's venture capital fund recently raised $10 million (equivalent to €9.3 million) from two unnamed investors through a special purpose vehicle (SPV), according to an SEC filing.

The OpenAI Startup Fund is related to OpenAI, but is technically a separate entity. So far the fund has been collected $175 million (equivalent to €162 million) “to help AI companies make a profound and positive impact on the world.”

The fund's previous deals were the same An investment of 80 million dollars (equivalent to €74 million) in and participating in legal technology startup Harvey An investment of 70 million dollars (equivalent to 65 million euros) in Ambience Healthcare.

Money flows into a special purpose vehicle

OpenAI Startup Fund SPV I, LP was enough SEC filing On February 2nd. $10 million was raised on January 30. The disclosure mentions Ian Hathaway, a partner at the company's venture capital fund, and Bobby Wu, a corporate lawyer at OpenAI.

An SPV is a financial structure that allows a group of investors to pool their money for a single, one-time investment. means Can be applied more quickly than a traditional venture capital fund. It can also be marketed to a larger number of non-institutional investors.

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It's unclear what the $10 million was for or why the OpenAI Startup Fund created a special purpose vehicle just eight months after raising $175 million for its main fund. OpenAI and Startup Fund did not respond to Business Insider's requests for comment.

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