🔸 OpenAI Startup Fund raises $44M in its largest SPV yet The OpenAI Startup Fund, an early-stage AI investor associated with OpenAI, has announced that it raised over $44 million for its fifth Special Purpose Vehicle (SPV), marking its largest fund to date. Established in 2021, the Fund operates under a unique structure that uses OpenAI’s name despite OpenAI itself not being an investor. Initially controlled by cofounder Sam Altman, legal control was transferred to general partner Ian Hathaway this year. The Fund has been active in 2024, launching five SPVs that collectively total $114.2 million, with funds allocated for both existing portfolio companies and new investments. Notable investments this year include Thrive Health and Unify, along with a seed investment in Anysphere, which is currently attracting significant attention due to its AI code assistant, Cursor. Despite its recent activity, the Fund’s website has not been updated in a year and provides limited information about its investments, mentioning only a few like legal AI startup Harvey and note-taking app Mem. The Fund started with an original capital of $175.25 million raised in October 2021. 💬 Source 📌 Powered by V3V Ventures