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EDGAR Verified
Primary Source · SEC.gov

Hiive PAI Series I a Series of Hiive Perplexity LLC

CIK 0002054877Single-Deal SPV2025 vintage506(b), 3(c)(1)
HiiveFull Review

Raised

$5M

Investors

60

Min Invest

$0

AltStreet Analysis

·

Generated from EDGAR primary sources

Hiive PAI Series I, a series of Hiive Perplexity LLC, filed on February 5, 2025, reporting $5.0M raised from 60 investors under Rule 506(b) and Section 3(c)(1). The offering has no stated minimum investment and is part of the Hiive platform, which manages 69 related EDGAR entities focused on private equity investments in technology companies. LLC Sydecar is listed as director, with Brett Sagan as executive officer.

This pooled investment fund operates under the private fund exemption 3(c)(1), limiting it to fewer than 100 beneficial owners, consistent with its 60-investor count. The $0 minimum investment and 506(b) private placement exemption suggest a platform-enabled SPV structure that aggregates smaller checks (averaging ~$83K per investor) for access to private equity opportunities, a common model for emerging tech-focused syndicates.

Data Flags

minimum investment$0 stated minimum on a $5M raise with 60 investors suggests platform-coordinated pooling with low barriers to entry
first sale dateFirst sale date not disclosed in filing, preventing vintage year determination and timing analysis
entity nameEntity name references 'Perplexity' (likely the AI search company), following Hiive's pattern of company-specific series structures similar to their Anthropic series vehicles

EDGAR Filing Data

Form D — Primary Source

View on SEC.gov
CIK Number0002054877
Entity NameHiive PAI Series I a Series of Hiive Perplexity LLC
Exemption506(b), 3(c)(1)
First Sale Date—
Filing DateFebruary 5, 2025
Accession Number0002054877-25-000001
Total Amount Sold$5M
Total Investors60
Minimum Investment$0 (no stated minimum)
Securities TypePooled Investment Fund
State of IncorporationNot specified
Amendment CountOriginal filing only

Related Persons (Form D)

Executive officers, directors, and promoters listed on the SEC Form D filing. Source: SEC.gov.

Sydecar LLC

Director · Claymont, DE

Brett Sagan

Executive Officer · Claymont, DE

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Data Methodology

Capital raise figures, investor counts, and filing dates are sourced directly from SEC EDGAR Form D primary documents via the SEC EDGAR submissions API and full-text search index. AltStreet analysis (summaries, flags, category context) is generated by Claude from this primary source data and reviewed for accuracy. Platform-provided information (if present) is clearly labeled and does not affect EDGAR data or AltStreet editorial coverage. EDGAR data is verified read-only — platforms may request factual corrections for demonstrable inaccuracies by contacting research@altstreet.investments. This page does not constitute investment advice.