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, sometimes used when startups don't fit a fund's strategy or terms, appealing to non-institutional investors.
OpenAI Startup Fund's portfolio includes companies like Harvey, Ambiance Healthcare, and Figure AI; previously under Altman's control, Hathaway now manages the fund independently after scrutiny over potential conflicts of interest.
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