Perplexity AI, the developer behind a leading AI-powered search engine, is finalizing a $50 million venture fund dedicated to early-stage AI startups. The company will serve as an anchor investor, while the majority of capital will come from external limited partners, according to a source familiar with the matter who requested anonymity due to the confidential nature of the information.
The fund will be managed by Kelly Graziadei and Joanna Lee Shevelenko, who previously led early-stage investments at f7 Ventures. A U.S. Securities and Exchange Commission filing from October confirmed the establishment of Perplexity F7 Fund I, naming Graziadei and Shevelenko as its general partners.
Perplexity AI has been at the forefront of the generative AI boom, emerging as a key player in AI-driven search technology. CNBC previously reported that the company was nearing the completion of a $500 million funding round at a valuation of $9 billion, positioning it as a potential competitor to Google. In a separate development, Perplexity AI recently proposed a merger with TikTok U.S. as the social media platform faces regulatory uncertainty.
The company anticipates a strategic advantage in investing in AI startups, given its network of approximately 80,000 developers who actively engage with its application programming interface (API). This access provides unique insight into emerging AI companies and their engagement levels. Perplexity’s founders and investors are contributing capital to the fund, with part of the company’s commitment structured in stock, according to the source.
