The OpenAI Startup Fund, a venture fund related to ' but technically separate from ' OpenAI that invests in early-stage, typically AI-related companies across education, law, and the sciences, has quietly closed a $15 million tranche. According to a filing with the U.S. Securities and Exchange Commission, two unnamed investors contributed the $15 million in new cash on or around April 19. The paperwork was submitted on April 25, and mentions Ian Hathaway, the OpenAI Startup Fund's manager and sole partner. SPVs allow multiple investors to pool their resources and make an investment in a single company or fund. In the VC sector, they're sometimes used to invest in startups that don't fit a fund's strategy or that fall outside a fund's terms. SPVs can also be marketed to a wider range of non-institutional investors. The OpenAI Startup Fund, whose portfolio companies include legal tech startup Harvey, Ambiance Healthcare and humanoid robotics firm Figure AI, came under scrutiny last...
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