According to CNBC, Perplexity, an AI search engine developer, is raising a $50 million seed and pre-seed investment fund. The majority of the capital comes from limited partners, with Perplexity contributing some of its previous funding as cornerstone capital. In December, Perplexity successfully raised $500 million, valuing the company at $9 billion.
This Perplexity investment fund is managed by two general partners, Kelly Graziadei and Joanna Lee Shevelenko. They co-founded the early-stage investment firm F7Ventures in 2018. PitchBook data shows F7Ventures has invested in startups such as Midi, a company in the women's health sector. It remains unclear whether Graziadei and Shevelenko will continue managing F7 or will fully dedicate their efforts to Perplexity's venture fund.
Unlike Perplexity, OpenAI also manages an investment fund called the OpenAI Startup Fund, but OpenAI claims it doesn't use its own capital for investments.
Key takeaways:
🌟 Perplexity is raising a $50 million seed and pre-seed investment fund, partially funded by its own capital.
💼 This fund is managed by F7Ventures founders Kelly Graziadei and Joanna Lee Shevelenko.
🔍 OpenAI also has an investment fund, but it doesn't use its own funds for investments.