Perplexity AI, known for its AI-powered search engine, is set to raise a $50 million venture fund aimed at supporting early-stage AI startups. According to a source familiar with the matter, the company will act as an anchor investor, with most of the capital coming from external limited partners.

The fund will be led by Kelly Graziadei and Joanna Lee Shevelenko, both from early-stage investment firm f7 Ventures. A filing with the U.S. Securities and Exchange Commission in October revealed the fund's official name as Perplexity F7 Fund I, with a target of $50 million.

Perplexity AI has been at the heart of the generative AI surge since late 2022, gaining attention following the rise of OpenAI’s ChatGPT. As more users shift from traditional search engines to AI-driven platforms, Perplexity is seen as a growing competitor to Google.

In November, CNBC reported that Perplexity AI was in the final stages of securing $500 million in funding, valuing the company at $9 billion. The company has also been making bold moves, including a recent bid to merge with TikTok U.S. as the platform faces potential regulatory hurdles in the country.

One strategic advantage Perplexity AI holds is its access to a network of around 80,000 developers actively using its API. This gives the company direct insights into emerging AI projects and the most engaged developers, offering a unique edge in identifying promising startups.

The $50 million fund will also receive contributions from Perplexity’s founders and investors, with part of the company’s commitment coming in the form of stock, according to the source.

As Perplexity AI continues to expand its influence in the AI ecosystem, this venture fund signals a clear intent to foster innovation and back the next generation of AI startups.

PHOTO: SHUTTERSTOCK

This article was created with AI assistance.