This move addresses concerns over the fund's unique structure, where, despite being presented similarly to a corporate venture arm, Altman had significant control and raised funds from external partners. OpenAI clarifies that Altman did not financially benefit from this arrangement.

The change, initially reported by Axios, aims to enhance transparency, transitioning the fund's control to Ian Hathaway, who has been with the fund since 2021. Hathaway, taking over as general partner, has been instrumental in leading investments and overseeing the fund's accelerator program.

The OpenAI Startup Fund, with a $175 million investment pool from partners like Microsoft, focuses on supporting AI startups. Altman, also known for his significant investments outside OpenAI and his previous role at Y Combinator, faced scrutiny following his activities and investments.

However, following his dismissal last November, an independent investigation found no misconduct related to product safety or finances at OpenAI.