Home World News OpenAI Venture Capital Fund is no longer controlled by Ataman

OpenAI Venture Capital Fund is no longer controlled by Ataman

OpenAI Venture Capital Fund is no longer controlled by Ataman

According to information from the China Securities Regulatory Commission, artificial intelligence was used to develop the chatbot ChatGPT (Aye)companyOpenAIThe venture capital fund that specifically supports AI startups has changed its governance structure and is no longer owned or controlled by company CEO Sam Altman.

Reuters reported that OpenAI reported changes to the governance structure of the “OpenAI Startup Fund” to the U.S. Securities and Exchange Commission (SEC) on March 29. News website Axios revealed in February that the fund did not legally belong to OpenAI or the nonprofit organization of the same name that owns it, but to Spirit, which was already controversial at the time.

OpenAI New Venture Fund ExistinginvestThe scale is US$175 million. It is promoted to the outside world as a corporate venture capital arm, similar to OpenAI, but the funding comes from Spirit raising external limited partners such as Microsoft. OpenAI is not an investor, and the investment fund’s projects are also funded by Spirit. Man takes decisions.

OpenAI has said that although Ataman is the owner of the fund, it will not receive financial benefits from the fund.

Axios also took the lead in reporting the ownership change of OpenAI’s new venture fund for the first time. An OpenAI spokesperson later said in a statement that the fund’s original general partner structure was only a temporary arrangement, and the change would improve clarity of the fund’s operations.

According to securities regulatory information reported by OpenAI, control of OpenAI’s new venture fund has been transferred to Ian Hathaway, who has been a partner of the fund since 2021, and Altman will no longer be a general partner of the fund.

OpenAI said Hathway has overseen the OpenAI Venture Fund’s accelerator program and also led the fund’s investments in companies such as Harvey, Cursor and Ambience Healthcare.

Altman was the former president of Y Combinator, a startup accelerator company. The scope of his investments outside of OpenAI is wide-ranging and extensive, from cryptocurrency startup WorldCoin to nuclear fusion company Helion Energy. He also has fundraising activities in the Middle East. These are the first external investigations that have been started.