Perplexity AI, the creator of a widely-used artificial intelligence search engine, is reportedly nearing the completion of a $50 million venture fund aimed at early-stage AI startups, according to information obtained by CNBC. The company will act as an anchor investor in this fund, with the majority of the capital coming from external limited partners, as per a source familiar with the situation who wished to remain anonymous due to the confidential nature of the details. The fund's two general partners will be Kelly Graziadei and Joanna Lee Shevelenko, who have been managing the early-stage fund f7 Ventures, the source indicated. A filing with the SEC in October confirmed that Perplexity F7 Fund I is seeking to raise $50 million, naming Graziadei and Shevelenko as the general partners. Since the generative AI explosion that commenced in late 2022 with OpenAI's ChatGPT, Perplexity has positioned itself strategically within the market.

CNBC reported in November that the company was in the advanced stages of securing $500 million in funding, valuing it at $9 billion. Perplexity is seen as a potential competitor to Google as consumer tendencies shift toward using AI for online information searches. Additionally, last month, Perplexity expressed an interest in merging with TikTok U. S. , especially as the social media platform confronts the possibility of a shutdown in the U. S. The company perceives a unique investment advantage in startups because around 80, 000 developers are connected to its network, granting Perplexity insight into who actively utilizes its application programming interface (API) and who engages most with its offerings, the source noted. Founders and investors from Perplexity are contributing capital to the fund, with part of the commitment being made in stock, according to the source. — CNBC's Samantha Subin contributed to this report.