The OpenAI Startup Fund raised an additional $15 million in capital from two anonymous investors using a special purpose vehicle (SPV) OpenAI Startup Fund SPV II, L.P.
Raising Capital
New Funding
The OpenAI Startup Fund has quietly raised $15 million in additional funding, documents show , filed with the US Securities and Exchange Commission. According to the filings, the funds were deposited by two unnamed investors around April 19.
Use of SPV
To facilitate the capital consolidation process, the entire amount involved was transferred to a special company OpenAI Startup Fund SPV II, L.P. This practice of using a special purpose vehicle (SPV) is not new for the fund, as it was first used in February this year, when the OpenAI Startup Fund raised $10 million.
Advantages of SPV
Using an SPV allows several investors to pool their resources and invest in one company or fund. In the venture capital sector, this approach is often used to invest in startups that do not fit the strategy of the main fund or go beyond its terms.
Relationship with OpenAI
Although the OpenAI Startup Fund is associated with OpenAI, it is technically separate from it. The fund focuses on investing in startups in the early stages of development, which are often related to the field of artificial intelligence. The fund's portfolio companies include startup Harvey, company Ambiance Healthcare and humanoid robotics firm Figure AI.
Glossary
- OpenAI is a leading research company in the field of artificial intelligence, known for its innovative developments , such as ChatGPT and DALL-E.
- Venture fund is an investment fund that invests in young, promising companies in the early stages of their development.
- A special purpose vehicle (SPV) is a legal structure used to consolidate investments from multiple investors.
- The US Securities and Exchange Commission (SEC) is the state regulator of the securities market in the USA.
Link
- OpenAI Startup Fund quietly raises $15M
- Sam Altman gives up control of OpenAI Startup Fund, resolving unusual corporate venture structure
Answers to questions
What is the OpenAI Startup Fund?
How much has the OpenAI Startup Fund raised?
What are SPVs used for venture sector?
What companies are in the OpenAI Startup Fund portfolio?
What is Sam Altman's role in the OpenAI Startup Fund?
Hashtags
Save a link to this article
Discussion of the topic – OpenAI venture fund raised $15 million: a quiet deal with two investors
The OpenAI Startup Fund raised $15 million from two unnamed investors around April 19. Details of the deal were filed with the US Securities and Exchange Commission on April 25 by fund manager Ian Hathaway.
Latest comments
8 comments
Write a comment
Your email address will not be published. Required fields are checked *
Андрій
Interesting information about the OpenAI Startup Fund! I didn't know they were using SPVs to raise capital. 🤔 A good way to unite investors.
Катерина
Indeed, SPVs are often used in the venture capital industry. Funds are allowed to invest in projects that do not fit into their strategy. And $15 million is a good amount for early investments! 💰
Вольфганг
There are fears that the activities of the funds, which are hidden from the public, can be detrimental to transparency and competition. Although venture capital funds are the driving force behind innovation. 🧐
Ірина
It is interesting that these funds will go to the development of startups in the field of AI. For example, Harvey and Figure AI are exciting projects! They will help develop the field of artificial intelligence. 🤖
Віктор
Have you heard about the story with Sam Altman? It turns out that he legally controlled the fund! 😲 Good thing it's fixed now. Transparency is important in the venture industry.
Стефан
Hmm, these trendy "artificial intelligences" and funds are just a waste of money and time. All these are temporary fads, nothing useful. 😒 In my time, we valued real work, not these fictions!
Марія
I disagree, Stefan! Artificial intelligence is the future. 💻 Just imagine how much it can improve medicine, industry and other fields. Foundations like OpenAI help fund these innovations.
Філіп
These are really exciting times for the development of AI technologies! 🚀 Although you should be careful with data privacy and ethical issues. But in general, I welcome such investments for the future.