Google’s Darkest Days: After Three Deaths, a Workforce Reckons with a Changed CompanyRead more

OpenAI CEO Sam Altman. Photo by Getty.

Who Could Lead OpenAI’s VC Fund?

Photo: OpenAI CEO Sam Altman. Photo by Getty.

OpenAI is on the prowl for a seasoned venture capitalist or two to run its startup investment fund.

The San Francisco developer of ChatGPT is gearing up to soon start raising its second fund, which will be far larger than its $175 million debut, representatives of OpenAI have told several venture capital investors. They want an established investor to lead more AI startup deals. 

Poaching a successful venture capitalist from a top-tier multi-stage fund like Sequoia Capital or Andreessen Horowitz won’t be easy, even for a rocket ship like OpenAI, because partners at traditional VC firms typically hesitate to leave until they get paid from returns in their funds—and those profits may be years off. Instead, I suspect Altman will end up recruiting a familiar face from the ranks of solo venture capitalists with whom he’s done startup deals over the years or who hail from his alma mater, Y Combinator. 

Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
OpenAI CEO Sam Altman. Photo by Getty. Art by Mike Sullivan
Exclusive microsoft startups
Sam Altman’s Tangle of Investments
Among the many unusual facts about OpenAI, the buzzy startup behind the hugely popular chatbot ChatGPT, the most extraordinary may be that Sam Altman, its CEO and co-founder, doesn’t have any equity in it.
Art by Clark Miller
The Big Read google
Google’s Darkest Days: After Three Deaths, a Workforce Reckons with a Changed Company
For Google employees, the news was a devastating turn in an already disorienting year. In May, a 31-year-old senior engineer at the company, later identified by police as Kevin Rawlings, died at Google’s New York office late at night in an apparent suicide.
Nvidia CEO Jensen Huang
Exclusive startups cloud
With Nvidia’s Help, Revenue Surges at Smaller Cloud Providers
The demand for artificial intelligence chips is turning into a boom for several upstart cloud-server providers, thanks to the complicated politics of the tech industry.
Character.AI's cofounders Noam Shazeer and Daniel de Freitas. Photos by Getty. Art by Shane Burke.
Deals startups ai
Character.AI in Talks to Raise Funding as Meta Platforms Tests Rival
Character.AI, which lets users create artificial intelligence–powered chatbots modeled after figures like TV character Tony Soprano and Tesla CEO Elon Musk, is in talks with investors about raising an additional round of funding, according to a person with direct knowledge.
Photo by Getty.
Exclusive startups Finance
Liquid Death Hires Goldman Sachs, Aiming for 2024 IPO
The parched market for initial public offerings is likely to see a new entrant soon: a canned water company.
A SpaceX rocket lifts off in Florida in May. Photo by Getty
Exclusive startups space
SpaceX Forecasts Doubling of Revenue to $8 Billion
Elon Musk’s Space Exploration Technologies, the most highly valued private tech company in the U.S., has told some investors it expects to bring in about $8 billion in revenue in 2023, roughly doubling its revenue from the previous year, according to people familiar with the discussions.