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April 22, 2026 — OpenAI is preparing to commit up to $1.5 billion of its own capital to a new joint venture with private equity firms, Financial Times and other outlets reported.
The venture, known internally as DeployCo, will be a Delaware-registered LLC initially valued at about $10 billion in a funding round expected to close in early May.
OpenAI would put in $500 million of equity upfront with an option to add a further $1 billion later; private equity partners including TPG, Bain Capital, Advent International, Brookfield and Goanna Capital are reported to be contributing roughly $4 billion.
OpenAI will hold super-voting shares in DeployCo and has guaranteed backers an annual return of 17.5% on their commitments; PE investors are locked in for five years.
DeployCo is designed to accelerate adoption of OpenAI’s workplace tools across PE portfolio companies by embedding technical teams and offering services-plus-software deployment.
Reports note the move is strategic distribution rather than fundraising and could expose OpenAI to material downside if deployment revenues fall short.








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