Ayesha Arora-Hughes' proposed AI venture fund had no investors in a Sept. 18 securities filing, while The Information reported she is targeting a raise of more than $100 million.
The Information reported that planned investments would go to developers of AI applications and supporting infrastructure. It also said Nikesh Arora, chairman and CEO of Palo Alto Networks, is advising the firm.
The SEC Form D lists the entity as Permanent Partners Collective Fund I LP, a Delaware limited partnership based in San Francisco. It records $0 sold to zero investors and states that no first sale had occurred by Sept. 18. Ayesha Arora signed the filing. The more-than-$100-million figure is The Information's reported fundraising target; the filing lists the offering amount as indefinite.
The Information described the competitive pressure first-time managers face from larger, established funds. It also cited Reed Jobs' 2023 launch of Yosemite as a precedent.
