Perplexity launches $50M seed and pre-seed VC fund

Perplexity, an AI-powered search engine developer, is establishing a $50 million seed and pre-seed investment fund, as reported by CNBC. The majority of the fund's capital is sourced from limited partners, but Perplexity is also utilizing some of the capital it raised for its own growth to support the fund. In December, Perplexity reportedly raised $500 million, achieving a valuation of $9 billion. The fund is managed by general partners Kelly Graziadei and Joanna Lee Shevelenko, who previously co-founded the early-stage venture firm F7 Ventures in 2018. F7 Ventures has invested in startups such as the women's health company Midi.

It remains uncertain whether Graziadei and Shevelenko will continue their roles at F7 Ventures or concentrate solely on Perplexity's venture fund. In contrast, OpenAI also operates an investment fund, the OpenAI Startup Fund, but claims it does not use its own capital for investments, unlike Perplexity.

Key takeaways

Perplexity is raising a $50 million seed and pre-seed investment fund, with the majority of capital coming from limited partners.
Perplexity has raised $500 million at a $9 billion valuation as of December.
The fund is managed by Kelly Graziadei and Joanna Lee Shevelenko, co-founders of F7 Ventures.
Unlike Perplexity, OpenAI manages an investment fund without using its own capital.

Perplexity launches $50M seed and pre-seed VC fund | TechCrunch

Key takeaways

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