Dossier

University of Michigan Endowment

Sam Altman
8 findings 3 connections 0 entities

All Connections

3 total
Hydrazine Capital Management, LLC corporate strong

University of Michigan invested $105M in Hydrazine Capital II and $75M in Hydrazine Capital IV — two of the endowment's largest VC fund checks ever. University of Michigan is the sole outside LP in Fund IV.

Sam Altman corporate strong

University of Michigan Endowment committed $75M as sole outside LP in Hydrazine Capital IV and $105M as major LP in Hydrazine Capital II ($180M total). This is the only major documented outside institutional LP in the Altman fund complex. No prior Altman-Michigan connection is documented to explain the relationship origin.

Hydrazine Capital financial strong

University of Michigan endowment is confirmed LP in Hydrazine Capital IV ($75M, sole outside investor) and Hydrazine Capital II ($105M, major LP). Total disclosed Hydrazine commitment: $180M. Decision-maker: Dan Feder, Sr MD Investments.

All Findings

8 total

financial (8)

financial high 2017-12-01

University of Michigan's endowment committed $100M to Y Combinator Continuity Funds II & III in December 2017 when Sam Altman was YC president — establishing institutional LP relationship with Altman-led entities three years before Hydrazine commitments

[file] https://regents.umich.edu/files/meetings/12-17/2017-12-IX-6.pdf
financial high 2017-12-01

UM endowment committed $100M to Y Combinator Continuity Funds II & III in December 2017 when Sam Altman was YC president — establishing the first LP relationship with Altman-managed entities

financial confirmed 2021-07-01

University of Michigan regents approved $25M commitment to 'two Hydrazine Capital sponsored investments' in July 2021 — separate from $105M Fund II and $75M Fund IV commitments; targets of this $25M not publicly identified

[file] https://regents.umich.edu/files/meetings/12-21/2021-12-IX-3.pdf
financial confirmed 2021-07-01
verified

UM regents approved $25M commitment to 'two Hydrazine Capital sponsored investments' in July 2021 — separate from $105M Fund II and $75M Fund IV; target entities not publicly identified

financial high 2023-12-19

University of Michigan committed $180M total to Hydrazine Capital funds — $105M to Fund II and $75M to Fund IV — representing two of UM's largest-ever individual VC fund checks

[file] https://fortune.com/2023/12/19/sam-altman-university-michigan-venture-fund/
financial high 2023-12-19
corroborated

University of Michigan committed $180M total to Hydrazine Capital funds — $105M to Fund II and $75M to Fund IV, two of UM's largest-ever individual VC fund checks

financial medium 2023-12-20

UM endowment's total exposure to Altman-controlled entities exceeds $213.7M: Hydrazine II ($105M) + Hydrazine IV ($75M) + Apollo Projects ($18.7M) + Altman Capital II LP ($15M) — not including direct OpenAI investments or OpenAI corporate venture fund

[file] https://finance.yahoo.com/news/university-michigan-wrote-sam-altman-125039910.html
financial medium 2023-12-20

UM endowment total exposure to Altman-controlled entities exceeds $213.7M: Hydrazine II ($105M) + Hydrazine IV ($75M) + Apollo Projects ($18.7M) + Altman Capital II LP ($15M) — not including direct OpenAI investments

Full Timeline

8 events
University of Michigan's endowment committed $100M to Y Combinator Continuity Funds II & III in December 2017 when Sam Altman was YC president — establishing institutional LP relationship with Altman-led entities three years before Hydrazine commitments
2017-12-01
UM endowment committed $100M to Y Combinator Continuity Funds II & III in December 2017 when Sam Altman was YC president — establishing the first LP relationship with Altman-managed entities
2017-12-01
University of Michigan regents approved $25M commitment to 'two Hydrazine Capital sponsored investments' in July 2021 — separate from $105M Fund II and $75M Fund IV commitments; targets of this $25M not publicly identified
2021-07-01
UM regents approved $25M commitment to 'two Hydrazine Capital sponsored investments' in July 2021 — separate from $105M Fund II and $75M Fund IV; target entities not publicly identified
2021-07-01
University of Michigan committed $180M total to Hydrazine Capital funds — $105M to Fund II and $75M to Fund IV — representing two of UM's largest-ever individual VC fund checks
2023-12-19
University of Michigan committed $180M total to Hydrazine Capital funds — $105M to Fund II and $75M to Fund IV, two of UM's largest-ever individual VC fund checks
2023-12-19
UM endowment's total exposure to Altman-controlled entities exceeds $213.7M: Hydrazine II ($105M) + Hydrazine IV ($75M) + Apollo Projects ($18.7M) + Altman Capital II LP ($15M) — not including direct OpenAI investments or OpenAI corporate venture fund
2023-12-20
UM endowment total exposure to Altman-controlled entities exceeds $213.7M: Hydrazine II ($105M) + Hydrazine IV ($75M) + Apollo Projects ($18.7M) + Altman Capital II LP ($15M) — not including direct OpenAI investments
2023-12-20