TLDR:
- OpenAI has revoked Sam Altman’s control over the startup fund supporting AI startups.
- The governance structure of the fund has been modified, and Ian Hathaway has taken over as the general partner.
OpenAI, a leading AI research organization, has made changes to the ownership structure of its venture capital fund supporting AI startups. A filing with the US Securities and Exchange Commission revealed that Sam Altman, the CEO of OpenAI, no longer owns or controls the fund. Altman’s ownership of the OpenAI Startup Fund had raised concerns, as he was responsible for making investment decisions despite not having a financial interest in the fund.
The control of the $175 million fund has now been transferred to Ian Hathaway, who has been a partner at the fund since 2021. Hathaway will oversee the fund’s operations and investments in companies like Harvey, Cursor, and Ambience Healthcare. Despite Sam Altman’s previous investment interests, a recent investigation found no wrongdoing concerning product safety or finances at OpenAI.
