New Venture Capital Fund Zero Shot, Backed by OpenAI Alumni, Aims to Revolutionize AI Investment Landscape
In a bold move that underscores the accelerating influence of artificial intelligence in the global tech ecosystem, a new venture capital fund with deep ties to OpenAI has successfully closed its first funding round, marking a significant step toward its $100 million goal. Named Zero Shot—a nod to the AI training technique—the fund is spearheaded by a team of OpenAI veterans who bring a unique blend of technical expertise and entrepreneurial vision to the world of venture capital.
The fund’s founding team includes Evan Morikawa, Andrew Mayne, and Shawn Jain, all of whom played pivotal roles in OpenAI’s meteoric rise during the development of groundbreaking technologies like ChatGPT, DALL·E, and Codex. They are joined by Kelly Kovacs, a seasoned venture capitalist with experience at growth-stage firm 01A, and Brett Rounsaville, a technology executive with stints at Twitter and Disney.
What sets Zero Shot apart is its founders’ intimate knowledge of AI’s trajectory and their ability to identify gaps in the market. “We’ve been friends for years, working together at OpenAI during its wildest growth years,” Mayne told TechCrunch. “After leaving, we found ourselves constantly being approached by VCs and founders seeking advice on emerging AI tech. That’s when we realized, maybe we should start our own fund.”
From OpenAI to Zero Shot: A Serendipitous Journey
Zero Shot’s genesis lies in the shared experiences of its founders, who witnessed firsthand the transformative potential of AI while at OpenAI. Evan Morikawa, the former head of applied engineering, played a key role in launching DALL·E and ChatGPT before transitioning to robotics startup Generalist. Andrew Mayne, OpenAI’s original prompt engineer, is widely recognized as the host of The OpenAI Podcast and the founder of Interdimensional, an AI deployment consultancy. Shawn Jain, an engineer and researcher at OpenAI, later ventured into venture capital and founded Synthefy, a generative AI startup.
Kelly Kovacs, another founding partner, brings a wealth of experience from her time at 01A, while Brett Rounsaville, Interdimensional’s CEO, rounds out the team with his expertise in scaling tech enterprises.
The founders’ collective experience positions them to identify promising startups while avoiding those riding fleeting trends. Their vision is to invest in companies that leverage AI to solve real-world problems, bridging the gap between innovation and market needs.
Early Investments and Strategic Focus
Zero Shot has already made its mark by backing several startups that align with its mission. Among its first investments is Worktrace AI, founded by former OpenAI product manager Angela Jiang. The startup is developing an AI-powered management platform designed to automate enterprise tasks by identifying processes ripe for automation. Worktrace AI recently raised a $10 million seed round, with contributions from notable investors such as OpenAI executive Mira Murati.
Another portfolio company, Foundry Robotics, focuses on next-generation factory robotics enhanced by AI. The startup recently secured $13.5 million in seed funding, led by Khosla Ventures. Zero Shot has also invested in a third, undisclosed startup, signaling its commitment to fostering innovation across diverse sectors.
Avoiding the AI Hype: What Zero Shot Won’t Back
While Zero Shot’s founders are bullish on AI’s transformative potential, they are equally cautious about avoiding overhyped trends. Mayne, for instance, is skeptical of “vibe coding” platforms, predicting that their utility will quickly be overshadowed by advancements from major model makers.
Morikawa, with his deep expertise in robotics, is wary of startups focused on embodiment training data for robotics. “There’s a lot of hoping and praying that someone will figure out how to bridge the embodiment gap,” he said. “But we’re nowhere near that breakthrough.”
Similarly, Mayne questions the value of “digital twin” startups, having tested several through rigorous due diligence. “A regular large language model often works just as well,” he explained.
Their ability to discern between fleeting trends and sustainable innovations underscores Zero Shot’s competitive edge. “There’s a real skill in predicting where these models are headed,” Morikawa noted. “It’s not linear, and it’s not obvious.”
Strategic Advisors and Industry Insights
Zero Shot’s advisory board further strengthens its position in the AI investment landscape. The fund has enlisted Diane Yoon, OpenAI’s former head of people; Steve Dowling, who led communications at both OpenAI and Apple; and Luke Miller, a former product leader at OpenAI. These advisors will share in the fund’s carried interest, aligning their interests with its long-term success.
A Vision for the Future
Zero Shot’s emergence comes at a time when AI is reshaping industries globally, from healthcare and education to manufacturing and entertainment. The fund’s founders are uniquely positioned to capitalize on this transformation, leveraging their technical expertise and insider knowledge to identify startups with the potential to redefine the AI landscape.
As Mayne succinctly put it, “We think we have a pretty good sense of where things are headed, and we have access to incredible builders.”
The fund’s early momentum and strategic investments suggest it could become a significant player in the AI venture capital space. However, as with any investment endeavor, the ultimate test will be its ability to deliver sustainable returns while fostering innovation that truly impacts the world.
For now, Zero Shot represents a compelling blend of vision, expertise, and ambition—an embodiment of the very spirit driving AI’s relentless march forward.
