OpenAI’s first VC backer weighs in on generative A.I.

OpenAI may be the most buzzy startup in the private markets right now, but Samir Kaul, founding partner and a managing director of Khosla Ventures, wont say much about his firm being the first VC to back the project.We made a bet. doctor that knows my entire system, has all 49 years of my data, every med Ive ever taken, every surgery Ive ever had, all my genome sequencingand that is constantly blasting that against all the new publications and all new research and all new clinical trials and giving me recommendations.Kaul pointed me back to a paper that Vinod Khosla authored in 2016which made a rather bold claim that 80% of every physicians workload may end up being replaced by technology as the health care world entertains more inexpensive data-gathering techniques, continual monitoring, more rigorous science and more available and ubiquitous information leading to personalized, precise, and consistent (across doctors) insights into a patient.And if thats the kind of technology a company could help develop, Kaul says the firm is happy to wait to see a return. Find out in Shawn Tullys new feature here.Jessica MathewsTwitter: @jessicakmathewsEmail: jessica.mathews@fortune.com Submit a deal for the Term Sheet newsletter here.- Portside, a San Francisco-based SaaS platform for the business aviation industry, raised $50 million in Series B funding. BAM Elevate led the round and was joined by Greycroft, Uncork Capital, High Alpha, ServiceNow Ventures, Point Field Partners, and other angels.- Risilience, a Cambridge, U.K.-based climate analytics company, raised $26 million in Series B funding. Delek US and NextGear Ventures co-led the round and were joined by Honda, OurCrowd, and the Grantham Foundation.- Recurrency, a San Francisco-based enterprise resource planning automation platform, raised $22 million in funding.