# Hydrazine Capital

Hydrazine Capital is a RIA based in Greenville, United States.

## Overview

- **Organization type:** RIA
- **Headquarters:** Greenville, United States
- **Region:** North America
- **Address:** Mountain View, CA, United States
- **Founded:** 2012
- **Assets under management:** Undisclosed
- **Website:** https://hydrazine.com

## Regulatory record

- **CRD number:** 332160
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/332160

## About

Hydrazine Capital is a state-registered investment adviser with its main office in Greenville, SC. It is headquartered in Greenville. The firm advises clients on investments.

## Sectors

- AI/ML
- Enterprise Software
- ClimateTech
- FinTech
- SpaceTech

## People

- Sam Altman — Founder

## Questions

### Does Hydrazine Capital invest in venture funds or only directly into companies?

The firm primarily makes direct investments in private companies. Public portfolio disclosures do not show a pattern of fund-of-funds commitments common at institutional family offices. The few known positions are all direct equity stakes in startups where Altman has personal or professional proximity to the founders.

### What is the relationship between Hydrazine Capital and OpenAI?

Hydrazine Capital is Sam Altman's personal investment firm and is operationally distinct from OpenAI, where he serves as CEO. Altman has publicly stated he holds no direct equity in OpenAI. The portfolio companies are independent entities, though some, like Worldcoin, share a founder in Altman.

### Which sectors does Hydrazine Capital avoid?

There is no public investment policy identifying excluded sectors. However, based on the observable portfolio concentration in deep tech, enterprise software, and AI-adjacent businesses, the firm does not appear active in consumer packaged goods, traditional retail, or hydrocarbon-based energy. No positions in tobacco, defense contracting, or extractive industries have been identified.

### How large is Hydrazine Capital?

Hydrazine Capital does not publicly disclose assets under management. Given the known sizes of individual bets — including a reported $180 million commitment to Retro Biosciences — the implied capitalization is substantial for a single-principal vehicle. Any precise figure remains an external estimate.

### How does Hydrazine Capital source its deals?

Sourcing is predominantly network-driven through Altman's roles at Y Combinator and OpenAI. As a former Y Combinator president and a central node in the San Francisco AI ecosystem, Altman sees deal flow that is unavailable to most institutional investors. The firm does not advertise a formal origination team or open application process for founders.

## Related profiles

- [Burr, Egan, Deleage](https://altss.com/profile/burr-egan-deleage)
- [Alumni Capital Network](https://altss.com/profile/alumni-capital-network)

---

Last updated: 2026-07-06T01:24:18.493Z

Canonical page: https://altss.com/profile/hydrazine-capital

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology