OpenAI is cautioning investors against falling for unauthorized investment schemes, particularly those involving special purpose vehicles (SPVs).
In a new blog post, the company said it has become aware of firms offering investors indirect exposure to OpenAI through SPVs and similar structures. While not all offers of OpenAI equity are invalid, the company warned that some “may be attempting to circumvent our transfer restrictions.”
“If so, the sale will not be recognized and carry no economic value to you,” OpenAI wrote.
SPVs have grown popular in venture capital as a way to pool money for one-off investments, especially into high-demand AI startups. But critics argue they often target less experienced investors, with one VC describing them as a tool for “tourist chumps.”
Related: Open AI Seeks Meta Evidence in Musk’s $97B Takeover Lawsuit
OpenAI isn’t alone in cracking down on the practice. According to Business Insider, rival Anthropic recently told Menlo Ventures it must invest with its own capital, not an SPV, in an upcoming funding round.
