The OpenAI Startup Fund has quietly concluded a $15 million funding round. This venture fund, which is related to but technically separate from OpenAI, invests in early-stage AI-related firms.

OpenAI Startup Fund Raises $15 Million

According to TechCrunch, this funding round was confirmed through a recent filing with the US Securities and Exchange Commission, indicating that two undisclosed investors contributed $15 million in fresh capital around April 19. 

The official paperwork was submitted on April 25, and Ian Hathaway was named the sole partner and manager of the OpenAI Startup Fund. 

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SPV Associated With the OpenAI Startup Fund

The $15 million tranche was transferred to a legal entity known as a special purpose vehicle (SPV) associated with the OpenAI Startup Fund: OpenAI Startup Fund SPV II, L.P.

According to TechCrunch, SPVs allow multiple investors to pool their resources and invest in a single company or fund. It was the second time the OpenAI Startup Fund has raised capital through an SPV. Its first was in February for a $10 million tranche.

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