The OpenAI Startup Fund, a enterprise fund that invests in early-stage AI companies and has recently transferred legal command from Sam Altman to Ian Hathaway, has closed on additional $5 million, according to a filing with the U.S. Securities and Trade Fee. 

The fresh new money had been raised from two investors who transferred the cash into a special purpose vehicle, a authorized entity associated with the OpenAI Startup Fund: OpenAI Startup Fund SPV III, L.P.

This is the 3rd time the OpenAI Startup Fund has raised an SPV. The investment device closed on $15 million for its 2nd SPV last month, TechCrunch reported at that time. The fund has raised its very first SPV with $10 million in February.  

Past 12 months, the fund had $175 million in commitments and held $325 million gross net asset benefit previously this year, in accordance to an additional SEC doc.

Even though the OpenAI Startup Fund features as a corporate venture funds device, it raises capital from external constrained partners, including Microsoft (a close OpenAI husband or wife and investor).

The Startup Fund has backed at minimum 16 other startups, in accordance to PitchBook data. They include Harvey, Ambiance Healthcare and humanoid robotics firm Figure AI. The fund also backed Ghost Autonomy, an autonomous driving corporation that shut down previous thirty day period. 

OpenAI hadn’t responded to TechCrunch’s ask for for comment as of publication time. We’ll update this publish if we hear back.

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