According to a filing with the U.S. Securities and Exchange Commission, the OpenAI Startup Fund, a venture fund that invests in early-stage AI firms and recently moved legal authority from Sam Altman to Ian Hathaway, has closed on an additional $5 million.
Two investors contributed the additional cash, which was deposited into OpenAI Company Save SPV III, L.P., a legal company connected to the OpenAI Startup Fund.
The OpenAI Startup Fund has raised an SPV three times now. According to TechCrunch at the time, the investment unit closed on $15 million for its second SPV last month. In February, the firm raised $10 million for its first SPV.
According to another SEC document, the firm held $325 million in gross net asset value earlier this year and had $175 million in commitments last year.
The OpenAI Startup Fund raises funds from external limited partners, such as Microsoft, which is a close partner and investor in OpenAI, even though it operates as a corporate venture capital entity.
PitchBook data indicates that at least 16 firms have received funding from the Startup Fund. These consist of Figure AI, a humanoid robot company, Harvey, and Ambiance Healthcare. Additionally, the fund supported Ghost Autonomy, an autonomous vehicle startup that closed its doors last month. Visit for more relevant contents.
