Perplexity AI Launches $50M Venture Fund - Seed & Pre-Seed

Perplexity Launches $50 Million Venture Fund

Perplexity, the company behind an AI-driven search engine, is establishing a new investment fund totaling $50 million. This fund will focus on seed and pre-seed stage companies, as reported by CNBC.

While the majority of the fund’s capital originates from limited partners, Perplexity is strategically utilizing a portion of its own previously raised funds to support the venture. This demonstrates a commitment to fostering innovation within the startup ecosystem.

Recent Funding for Perplexity

In December, Perplexity secured $500 million in funding, achieving a valuation of $9 billion. This substantial capital infusion has enabled the company to initiate and anchor its new investment fund.

Fund Management

The fund’s operations will be overseen by general partners Kelly Graziadei and Joanna Lee Shevelenko. These individuals previously co-founded F7 Ventures, an early-stage venture capital firm established in 2018.

F7 Ventures has a track record of investing in promising startups, including Midi, a company specializing in women’s health solutions. The future of F7 Ventures remains uncertain as Graziadei and Shevelenko dedicate their efforts to Perplexity’s venture fund.

Comparison to OpenAI’s Investment Strategy

OpenAI also operates an investment fund, the OpenAI Startup Fund, designed to support emerging companies. However, a key distinction exists between the two approaches.

Unlike Perplexity, OpenAI has stated that it does not contribute its own capital to the investments made through its fund. Instead, OpenAI’s fund relies entirely on external capital contributions.

Here's a summary of key points:

• Perplexity is launching a $50 million seed/pre-seed fund.
• The fund is anchored with capital from Perplexity’s own funding.
• Kelly Graziadei and Joanna Lee Shevelenko will manage the fund.
• OpenAI’s fund does not utilize the company’s own capital.