Introduction to Perplexity’s Investment Fund

Perplexity, a leading developer of an AI-powered search engine, has announced plans to establish a $50 million seed and pre-seed investment fund, as reported by CNBC. Notably, while a significant portion of the capital is being provided by limited partners, Perplexity is also allocating a portion of its own raised capital towards anchoring this fund. Previously, in December, Perplexity successfully raised $500 million at a valuation of $9 billion.

Management and Background of the Fund

The investment fund initiated by Perplexity is being managed by Kelly Graziadei and Joanna Lee Shevelenko, who are also known for co-founding F7 Ventures, an early-stage venture firm, back in 2018. F7 Ventures has a notable portfolio, including investments in health-related startups such as Midi, which focuses on women’s health. Although the future roles of Graziadei and Shevelenko regarding the management of F7 Ventures are not clearly defined, their involvement in Perplexity’s venture fund marks a significant step in the direction of early-stage startup investments.

Comparison with OpenAI’s Investment Approach

It is worth noting that OpenAI, another major player in the AI landscape, also operates an investment fund known as the OpenAI Startup Fund. Unlike Perplexity, OpenAI emphasizes that it does not utilize its own capital for investments made through this fund. This distinction highlights varying strategies among AI companies in supporting startup ecosystems and fostering innovation within the tech industry.