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OpenAI Startup Fund quietly raises $15M
The OpenAI Startup Fund has quietly raised $15 million through a special-purpose legal entity known as an SPV.
The paperwork was submitted on April 25, and mentions Ian Hathaway, the OpenAI Startup Fund’s manager and sole partner. The OpenAI Startup Fund, whose portfolio companies include legal tech startup Harvey, Ambiance Healthcare and humanoid robotics firm Figure AI, came under scrutiny last year after it was revealed that OpenAI CEO Sam Altman had long legally controlled the fund. But critics nonetheless argued that Altman’s ownership amounted to a conflict of interest; OpenAI claimed that the general partner structure was intended to be “temporary.”
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