the OpenAI Startup Fund

Sources: OpenAI owned a 23% stake in io from a 2024 deal, so it is now paying ~$5B to fully acquire it; the OpenAI Startup Fund also invested in io in 2024

OpenAI buys Ive's “io” in San Francisco as Google holds their i/o conference down in mountain view right at this moment (also apple stock dropped ~2 percent this morning on the acquisition news) Ben N...

Filing: Sam Altman no longer controls the OpenAI Startup Fund, which has a $325M+ gross asset value; Ian Hathaway, who has helped manage the fund, is in charge

Filing: Sam Altman no longer controls the OpenAI Startup Fund, which has a $325M+ gross asset value; Ian Hathaway, who has helped manage the fund, is in charge

- By last May it reported $175 million in total commitments, including from OpenAI partner Microsoft, but now lists the fund's gross asset value at over $325 million.

Filings: Sam Altman is the sole owner of the OpenAI Startup Fund, which reported $175M in total commitments in May 2023; Microsoft is an outside limited partner

Harvey, which builds generative AI tools for law firms, raised a $21M Series A led by Sequoia with participation from the OpenAI Startup Fund and others

Sara Merken / Reuters :

Norway-based 1X, which is developing humanoid robots, raised a $23.5M Series A2 led by the OpenAI Startup Fund with participation from Tiger Global and others

Autonomous machines are still too clumsy for delicate tasks.  But humans can operate mechanical arms from afar, turning physical labor into remote work.

Andrew Mason's Descript, which built an AI-powered media editing app, raised a $50M Series C led by the OpenAI Startup Fund, bringing its total funding to $100M

Mem, a work-focused app that uses AI to organize notes, raised $23.5M led by the OpenAI Startup Fund at a $110M valuation, bringing its total funding to $29M

Kyle Wiggers / TechCrunch :