Perplexity, the AI-driven search engine developer, is setting up a $50 million seed and pre-seed investment fund, CNBC reported. Most of the funding comes from limited partners, but Perplexity is also contributing a portion of its own raised capital to support the fund. In December, the company secured $500 million at a valuation of $9 billion.
Experienced Investors at the Helm
The fund is managed by Kelly Graziadei and Joanna Lee Shevelenko, who co-founded the early-stage venture firm F7 Ventures in 2018, according to PitchBook. F7 has backed startups like the women’s health company Midi. It remains unclear whether Graziadei and Shevelenko will continue leading F7 or shift their focus entirely to Perplexity’s new fund.
OpenAI’s Approach Differs
Perplexity’s move into venture capital follows a trend seen in AI firms like OpenAI, which operates the OpenAI Startup Fund. However, unlike Perplexity, OpenAI states that it does not invest its own capital in the fund.
