OpenAI CEO Sam Altman has passed on control of the OpenAI Startup fund to Ian Hathaway.

Sam Altman departs from Open AI fund

Sam Altman, CEO of US-based artificial intelligence research corporation OpenAI, will no longer head its corporate venture capital fund, Axios reported.

The departure comes months after Altman’s return to OpenAI after he was removed from the company by its board of directors in November 2023.

The OpenAI Startup Fund will now be controlled by Ian Hathaway (pictured on the left), who has been a partner at the fund for more then two years.

Hathway was integral in managing the Startup Fund and led investments in portfolio companies such as Cursor and Ambience Healthcare. He also was an investor for US-based employment platform Haystack.

The OpenAI Startup Fund was founded in 2021 and invests in energy, healthcare, AI and education-focused startups. The firm has 13 companies in its portfolio and has invested in 17 other startups including Speak, Anysphere and Descript.

Roshini Bains

Roshini Bains is the junior news reporter for Global Corporate Venturing and Global University Venturing.