OpenAI Startup Fund, a enterprise capital fund investing in early-stage AI firms that recently transferred legal control from Sam Altman to Ian Hathaway, closed on an additional $5 million, in keeping with a study sawing with the US Securities and Exchange Commission.
The recent funds were obtained from two investors who transferred capital to a special purpose vehicle that is a legal entity related to OpenAI Startup Fund: OpenAI Startup Fund SPV III, LP
This is the third time that the OpenAI Startup Fund has acquired a special purpose vehicle. As TechCrunch reported at the time, the investment unit closed $15 million in a second special purpose vehicle last month. In February, the fund acquired its first special purpose vehicle price USD 10 million.
According to a different SEC filing, the fund had liabilities of $175 million last yr and gross net assets of $325 million at the starting of this yr.
Although the OpenAI Startup Fund operates as a Corporate Venture Capital entity, it raises capital from external limited partners, including Microsoft (a close partner and investor of OpenAI).
According to PitchBook data, the startup fund supported at least 16 other startups. These include Harvey, Ambiance Healthcare and humanoid robotics company Figura AI. The fund also backed Ghost Autonomy, an autonomous vehicle company that shut down last month.
At the time of publication, OpenAI had not responded to TechCrunch’s request for comment. If we receive a response, we are going to update this post.