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Sam Altman gives up control of OpenAI Startup Fund, resolving unusual corporate venture structure
OpenAI CEO Sam Altman has transferred formal control of the eponymously firm's named corporate venture fund to Ian Cathaway, OpenAI confirmed to
The fund’s initial GP structure was intended as a temporary arrangement, and Altman made no personal investment, nor did he have any financial interest, a spokesperson explained. Cathaway joined OpenAI in 2021 and played a key role managing the Startup Fund, leading investments in Ambience Healthcare, Cursor, Harvey, and Speak.He was previously an investor with Haystack, according to his LinkedIn profile. They include Descript, a collaborative editing platform valued at $553 million last year, and Ghost Autonomy, which develops software for autonomous driving.
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