OpenAI Startup Fund
UnclaimedAt a Glance
- Check Size
- $1M – $1M
- Stage
- Pre-Seed, Seed, Series A, Series B+
- AUM
- $175M
- Sectors
- AI, EdTech
- Founded
- 2021
- HQ
- San Francisco, CA
About OpenAI Startup Fund
OpenAI Startup Fund is a San Francisco venture capital firm founded in 2021 to invest in startups with big ideas about AI. It writes checks from pre-seed and seed through Series A and later rounds, concentrating on artificial intelligence and education technology, and manages $175 million in its first fund. Its portfolio includes Harvey, Speak, Descript, Mem and Humanloop, and it runs the Converge program, a cohort for exceptional AI builders and researchers that pairs capital with early access to models and technical support.
The fund's structure is unusual and worth understanding. Its capital comes from Microsoft and other OpenAI partners rather than from OpenAI itself, so investment decisions sit with the fund's own management. Sam Altman was the only person named on Fund I's SEC filing in 2021; by the time a $400 million Fund II was filed and fully sold in August 2026, Ian Hathaway was the named general partner. Between the two funds the manager also filed six special purpose vehicles to put additional money into individual companies, a sign it is concentrating into winners rather than spraying seed checks.
What makes the firm distinctive is proximity rather than capital. Its stated targets are healthcare, law, education, energy and infrastructure, and the sciences, sectors where AI can change how work gets done rather than how software looks, and its portfolio reflects that: legal research at Harvey, language learning at Speak, media editing at Descript. Companies it backs get early exposure to frontier models and the engineering context around them, which is a form of help no generalist fund can match, and the Converge program serves as its main front door for technical teams at the earliest stage.
Investment Thesis
“Invests in AI companies and runs the Converge program to support exceptional AI builders and researchers.”
Sector Focus
Investment Stage
Notable Portfolio Companies
View full portfolio →
Fund History
- The OpenAI Startup Fund has raised two funds and a string of company-specific vehicles.
- Fund I made its first sale in October 2021 against a $150 million offering and closed at $175.25 million, fully sold, by the amended Form D filed in May 2023; Sam Altman was the only related person named on the original filing.
- Fund II filed in August 2026 with a $400 million offering reported fully sold and a first sale on 11 August 2026, with Ian Hathaway as the named general partner.
- Between the two funds the manager filed six special purpose vehicles, OpenAI Startup Fund SPV I through SPV VI, between 2023 and 2025, used to concentrate additional capital into individual portfolio companies rather than to raise new blind pools.
- The fund's capital comes from Microsoft and other OpenAI partners; OpenAI itself is not an investor in it.
- Its stated focus is healthcare, law, education, energy and infrastructure, and the sciences, sectors where the firm argues AI can raise human productivity most directly.
SEC Fund Filings
- Vehicles filed, last 24 months
- 3
- Latest filing
OpenAI Startup Fund filed a Form D for 3 fund vehicles between Sep 30, 2024 and Sep 29, 2026.
| Fund vehicle | Source |
|---|---|
| OpenAI Startup Fund II, L.P. | SEC Form D, filed |
| OpenAI Startup Fund SPV VI, L.P. | SEC Form D, filed |
| OpenAI Startup Fund SPV V, L.P. | SEC Form D, filed |
A Form D is the notice a fund files with the SEC when it raises money in a private offering. Feeder funds, parallel funds and SPVs each file their own, so the count measures filing activity, not the number of flagship funds.
Source: SEC EDGAR Form D filings for pooled investment funds, original filings only (amendments excluded). Our filing data starts Jul 1, 2024. Vehicles are matched to OpenAI Startup Fund by fund name and checked against the sponsor address and named principals on each filing; offering amounts are not shown. Each “SEC Form D” link opens an EDGAR full-text search for that vehicle’s exact name, where the filing itself is listed. See every new fund filing on the Form D Radar.
Team (1)
Related Articles (2)
Frequently Asked Questions
What stage does OpenAI Startup Fund invest at?
OpenAI Startup Fund primarily invests at the Pre-Seed, Seed, Series A, Series B+ stages. This means they focus on companies that are at the earliest idea or prototype phase.
Where is OpenAI Startup Fund located?
OpenAI Startup Fund is headquartered in San Francisco, CA. Many of their portfolio companies are also based in this region, though they invest across geographies.
What sectors does OpenAI Startup Fund focus on?
OpenAI Startup Fund focuses on investments in AI, EdTech. Their portfolio reflects deep expertise and networks within these sectors.
What is OpenAI Startup Fund's typical check size?
OpenAI Startup Fund's typical investment check size ranges from $1M to $1M. Actual amounts may vary based on the stage, sector, and specific opportunity.
How much does OpenAI Startup Fund have under management?
OpenAI Startup Fund manages approximately $175M in assets under management (AUM) across their funds.
Similar Firms
Fund Operations Resources
Running a fund like OpenAI Startup Fund? Independent guides to the software and processes emerging managers use to operate.
Best Fund Administration Software
Independent breakdown of fund administration platforms by fund size.
LP Reporting Software
Tools for capital account statements and investor updates.
Portfolio Monitoring Tools
How GPs track company performance across the portfolio.
VC CRM Software
Deal-flow and relationship management for investors.
Related tools and reading
The operating system for private capital.
Archstone runs the back office for venture, PE, real estate, and credit funds — LP reporting, capital calls, portfolio tracking, and fund accounting, in one platform. Now in alpha.