OpenAI Startup Fund Secures $15 Million in New Investment

The OpenAI Startup Fund, which is affiliated with but operates separately from OpenAI, has successfully raised $15 million from two undisclosed investors. This recent funding, secured on April 19 and reported to the U.S. Securities and Exchange Commission on April 25, was managed by Ian Hathaway, the fund’s sole partner.

This capital influx is part of a strategy using a special purpose vehicle (SPV), named OpenAI Startup Fund SPV II, L.P., which simplifies investment pooling for various backers. Notably, this marks the fund's second venture utilizing an SPV following a $10 million tranche in February.

The fund, known for investments in sectors like legal technology and healthcare, is overseen by Hathaway, who took formal control from Sam Altman in April. Altman, despite criticism over potential conflicts of interest, does not hold a financial stake in the fund. OpenAI’s Startup Fund continues to expand its influence, supporting ventures such as the collaborative platform Descript and the AI-driven note-taking app Mem