Ex-OpenAI Researcher Raises New Fund to Back AI Startups (1)

Leonis Capital has secured $25 million for a new fund to help uncover the next OpenAI.

The fund is backed by institutional investors and a mix of researchers and executives from companies like Nvidia Corp, OpenAI and Anthropic, the San Francisco-based venture capital firm said in a statement. Leonis, founded in 2021, has fully deployed its first $10 million fund across AI-native startups including MaintainX and Motion.

Jenny Xiao

Source: Jenny Xiao

The company is co-headed by Jenny Xiao, an early employee and researcher at OpenAI. She’s partnering with Jay Zhao, a veteran venture investor who counts on an analysis-first approach ...