- OpenAI CEO Sam Altman personally owns OpenAI Startup Fund.
- This unusual arrangement was for expediency but highlights governance issues.
- OpenAI acknowledges the need to formalize its framework, including the fund’s fate.
OpenAI CEO Sam Altman was revealed this week as the sole legal owner of OpenAI Startup Fund – the AI lab’s corporate venture capital arm.
Launched in late 2021 to invest in external startups, the fund boasts $175 million in backing and a portfolio including Microsoft-backed Descript.
Altman owns OpenAI fund
Unlike most corporate VC funds, OpenAI Startup Fund is not owned by OpenAI itself or its nonprofit foundation. As per federal filings, the fund belongs to Altman.
An OpenAI spokesperson said the unusual arrangement was for expediency amid the entity’s complex structure but was always meant to be temporary.
There’s a need to “re-examine” the framework
With no clarity if Altman’s ownership would persist were he ever ousted as OpenAI CEO, it spotlights wider governance issues. The company acknowledged a need to “re-examine” its framework, including establishing a formal board, before addressing the fund’s fate.
For now, OpenAI Startup Fund continues deploying capital into the AI ecosystem with Altman firmly at the helm. However, its long-term configuration remains dependent on clarifying OpenAI’s broader decision-making authority.
The spotlight on who truly controls assets linked to ChatGPT fever may motivate action.
