Ropes & Gray Represented Advent and Bain in Investment in DeployCo, a Joint Venture with OpenAI

Ropes & Gray represented Advent and Bain in their investment in the OpenAI Deployment Company (“DeployCo”), a new company designed to help organizations build and deploy AI systems they can rely on every day across their most important work. The new company was announced on May 11.

DeployCo is a multi-year committed partnership between OpenAI and 19 leading global investment firms, consultancies, and system integrators. It will launch with more than $4 billion of initial investment, which it will use to scale operations and acquire firms that can accelerate OpenAI and DeployCo’s shared mission of broadly beneficial AI deployment.

The Ropes & Gray team representing Advent included private equity partners Eric Issadore and Chau Le, associates Merry Sheehan and Cameron Wallace, tax partners Adam Greenwood and David Saltzman, associate Melanie Xu, and litigation & enforcement counsel Jessica Dormitzer and Patrick Welsh.

The Ropes & Gray team representing Bain included private equity partners Charlie Boer and Thomas Holden, associates Andrea Daley and Devon Guanci, tax partner Pam Glazier and associate Mirae Park, and finance partners Byung Choi, Dan Coyne and Patricia Lynch.

The Ropes & Gray team representing the consortium of Advent, Bain and Brookfield on the commercial agreements included IP transactions partner Emily Karlberg, counsel Giancarlo Lee, associates Courtney Sy and Parv Gondalia, finance partner Daniel Forman, and employment partner Megan Bisk.