OpenAI Veterans Launch New AI Venture Fund

A new investment vehicle, Zero Shot, has emerged from the ranks of OpenAI veterans, aiming to channel deep technical expertise into early-stage artificial intelligence companies. The fund, which has secured its initial close and is targeting a total of $100 million, is already deploying capital, signaling a significant new player in the AI funding ecosystem.

The founding team comprises individuals who were instrumental in the development and scaling of groundbreaking AI technologies at OpenAI. Evan Morikawa, formerly head of applied engineering during the pivotal launch phases of DALL·E and ChatGPT, brings a wealth of practical engineering experience. Andrew Mayne, recognized as OpenAI's original prompt engineer and host of 'The OpenAI podcast,' adds a unique perspective on human-AI interaction and AI deployment through his consultancy, Interdimensional. Shawn Jain, an engineer and researcher from OpenAI, also contributes his technical acumen, alongside his entrepreneurial endeavors with GenAI startup Synthefy.

Complementing the OpenAI contingent are seasoned venture professionals. Kelly Kovacs, a former founding partner at growth-stage firm 01A, brings extensive investment experience. Brett Rounsaville, with a background at Twitter and Disney, and currently CEO of Interdimensional, rounds out the core team. This blend of deep AI development insight and venture capital acumen positions Zero Shot to identify and nurture promising AI ventures.

The impetus for forming Zero Shot stemmed from the founders' frequent consultations with venture capitalists and startup founders navigating the rapidly evolving AI sector. Recognizing a gap between market needs and the proliferation of AI startups, the team decided to leverage their collective foresight and network. \"We believe we have a strong grasp on the trajectory of AI and access to exceptional talent,\" stated Andrew Mayne, reflecting on the fund's inception. After initial discussions with institutional investors and family offices, the fund successfully closed its first tranche of capital, with sights set on reaching its $100 million target.

Zero Shot has already made strategic investments in two notable startups. The fund backed Worktrace AI, co-founded by former OpenAI product manager Angela Jiang. Worktrace AI is developing AI-powered management software designed to automate enterprise tasks by identifying optimization opportunities. This company previously secured a $10 million seed round with backing from prominent figures like Mira Murati and OpenAI's Fund. Additionally, Zero Shot invested in Foundry Robotics, a company focused on advanced, AI-enhanced factory automation solutions, which recently raised $13.5 million in a seed round led by Khosla Ventures. A third, stealth-stage investment has also been completed.

The fund's founders are particularly adept at discerning AI trends with genuine long-term potential, distinguishing them from many market participants. Evan Morikawa, drawing on his expertise in robotics and AI, expressed skepticism towards numerous "embodiment data" companies in robotics, citing the significant challenges in bridging the embodiment gap. Similarly, Andrew Mayne voiced reservations about many "digital twin" startups, finding that conventional LLMs often suffice. This discerning approach, rooted in profound technical understanding, allows Zero Shot to navigate the complexities of AI innovation and identify ventures with robust foundations.