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OpenAI Startup Fund Raises $15M in Stealthy Fundraising

The OpenAI Startup Fund, affiliated with OpenAI, has raised $15 million through a special purpose vehicle for early-stage AI startup investments. The fund operates in education, law, and the sciences.

Two unidentified investors contributed the $15 million, with the fund manager, Ian Hathaway, as the single partner. The capital was received by OpenAI Startup Fund SPV II, L.P., a legal entity affiliated with the fund.

In the past year, the fund faced criticism for its ownership structure, but has since shifted ownership to Hathaway. With commitments totaling $175 million, the fund invests in startups like Harvey, Figure AI, and Ambiance Healthcare.

OpenAI has not responded to requests for comments about the recent fundraising activities. The fund's investments include an incubation program called Converge and startups like Descript, Speak, Mem, and Anysphere.