Hiive PAI Series I a Series of Hiive Perplexity LLC 2026: Is It Legit? Form D Raise, Investors, Who Is Behind It

Q: What is Hiive PAI Series I a Series of Hiive Perplexity LLC?

Hiive PAI Series I a Series of Hiive Perplexity LLC is a Delaware limited liability company that filed a Form D with the SEC on February 5, 2025 as a venture capital fund. The filing claims Rule 506(b), Section 3(c), Section 3(c)(1) for an offering of pooled investment fund interests. AltStreet links the issuer to Clarity.

Q: Is Hiive PAI Series I a Series of Hiive Perplexity LLC legit?

AltStreet does not rate legitimacy; it reports the public record. Hiive PAI Series I a Series of Hiive Perplexity LLC filed a Form D with the SEC on February 5, 2025 claiming Rule 506(b), Section 3(c), Section 3(c)(1). A Form D is a notice of an exempt offering, not a review or approval of it. The newest notice reports $4,999,811 sold to 60 investors. AltStreet's enforcement record (SEC, FINRA and state actions) shows no action naming the issuer as of today. The issuer is linked to Clarity, which AltStreet has reviewed. Before investing, confirm the filing on EDGAR, check the seller's registration on FINRA BrokerCheck, and read the offering documents, which a Form D does not include.

Q: Is Hiive PAI Series I a Series of Hiive Perplexity LLC registered with or approved by the SEC?

No. A Form D is a notice that an issuer is selling securities under an exemption from registration, and the SEC does not review, approve, or pass on the merits of the offering. The filing shows that Hiive PAI Series I a Series of Hiive Perplexity LLC claimed Rule 506(b), Section 3(c), Section 3(c)(1) and disclosed the items the form requires, such as the amount sold, the minimum investment, related persons, and anyone paid to sell the securities. It does not verify the issuer's claims or its business.

Q: How much has Hiive PAI Series I a Series of Hiive Perplexity LLC raised?

Hiive PAI Series I a Series of Hiive Perplexity LLC reported $4,999,811 sold from 60 investors of a $4,999,811 total offering as of the Form D filed February 5, 2025.

Q: Who can invest in Hiive PAI Series I a Series of Hiive Perplexity LLC?

The offering relies on Rule 506(b), which permits sales to accredited investors and to no more than 35 non-accredited investors who meet a sophistication standard, and prohibits general solicitation. Because the fund also relies on Section 3(c)(1), it may have no more than 100 beneficial owners. The filing reports no non-accredited investors. The filing lists the minimum investment as $0, meaning no minimum was stated.

Q: What is the minimum investment in Hiive PAI Series I a Series of Hiive Perplexity LLC?

The Form D lists the minimum investment as $0, which means the issuer did not state a minimum on the form. The offering documents, not the Form D, set the actual subscription terms.

Q: Who is selling Hiive PAI Series I a Series of Hiive Perplexity LLC and how are they paid?

The Form D names no recipient of sales compensation, which usually means the issuer or its affiliates are placing the securities directly. Sales commissions are reported as $0 and finders' fees as $0. Form D allows these to be estimates.

Q: Who is behind Hiive PAI Series I a Series of Hiive Perplexity LLC?

The Form D lists 2 related persons: Sydecar LLC, director (Administrator of the Issuer); Brett Sagan, executive officer (Officer of the Issuer's Administrator). Form D Item 3 requires executive officers, directors, and promoters of the issuer to be listed.

Q: Where is Hiive PAI Series I a Series of Hiive Perplexity LLC located?

The issuer's address on its SEC filings is 2093 Philadelphia Pike, 5885, Claymont, DE 19703. Its phone number of record is (360) 946-0604. It is organized under the laws of Delaware.

Q: How long is the Hiive PAI Series I a Series of Hiive Perplexity LLC offering open?

The issuer indicated that the offering is not intended to last more than one year. An issuer must amend its Form D annually while a continuing offering stays open, and no amendment is on record yet.

AltStreetEDGAR DatabaseClarityHiive PAI Series I a Series of Hiive Perplexity LLC
SEC filing record
Primary Source · SEC.gov
Hiive PAI Series I a Series of Hiive Perplexity LLCSingle-Deal SPV2025 vintage506(b), 3(c)(1)
Latest signalNew Form D filerForm D · 2025-02-05Last filing 2025-02-05
ClarityFull Review
Raised
$5M
Investors
60
Min Invest
None stated
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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
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
ExemptionRule 506(b), Section 3(c), Section 3(c)(1)
What the exemption meansRule 506(b) of Regulation D: securities may be sold to an unlimited number of accredited investors and up to 35 non-accredited investors who meet the rule's sophistication standard, without general solicitation or advertising. Section 3(c) of the Investment Company Act of 1940: the issuer is a pooled investment vehicle relying on an exclusion from registration as an investment company. Section 3(c)(1) of the Investment Company Act: the fund is excluded from investment-company registration because it has no more than 100 beneficial owners.
Entity TypeLimited Liability Company
Jurisdiction of OrganizationDelaware
Issuer Address2093 Philadelphia Pike, 5885, Claymont, DE 19703
Phone(360) 946-0604
Industry / Fund TypePooled Investment Fund · Venture Capital Fund
Investment Company ActExcluded under Section 3(c)(1) (100 beneficial owners or fewer)
Securities TypePooled Investment Fund
First Sale Date—
Filing DateFebruary 5, 2025
Accession Number0002054877-25-000001
Total Offering Amount$4,999,811
Total Amount Sold$4,999,811
Amount Remaining$0
Total Investors60
Non-Accredited InvestorsNone
Minimum Investment$0 (no stated minimum)
Offering DurationOne year or less
Sales Commissions$0
Finders' Fees$0
Revenue RangeDecline to Disclose
State (Issuer Address)DE
Amendment CountOriginal filing only
Filings on Record
Every filing AltStreet's ledger holds for this CIK, newest first. Each opens the SEC archive folder.
DFebruary 5, 20250002054877-25-000001
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In the Terminal
Filing events
1
latest Feb 5, 2025
Critical / warning
0 / 0
0 watch · 1 info
Statements extracted
0
none on file
NAV prints
0
none on file
Offering chains
1
closed
Latest event New filer · Feb 5, 2025
SEC.gov
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Fund family Part of the Hiive Perplexity family: 3 vehicles across 2 generations · full family and the filing behind each link in the terminal
Investor
The full fund family and any related vehicles (parallel, feeder, successor, sibling series) with the filing that shows each link
The dated record: 12 facts with source, effective date and capture date, viewable as AltStreet knew them on any past day
1 filing event with values and deltas, latest 2025-02-05, and alerts on the next one
1 offering timeline: velocity, share raised, first-sale lag, stalled flags
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Adviser of Record (Form ADV)
Clarity Investment Management INC.CRD 335888 · SEC-registered adviser · lists this fund on Schedule D 7.B.(1) as a private equity fund
From the adviser's Form ADV as loaded from the SEC bulk data, joined on this issuer's Form D file number. Fund-level figures and the adviser's full fund roster are in the terminal.
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
Questions About Hiive PAI Series I a Series of Hiive Perplexity LLC
Each answer is built from the values on the SEC filing and the AltStreet ledger, not from the issuer's marketing.
What is Hiive PAI Series I a Series of Hiive Perplexity LLC?Hiive PAI Series I a Series of Hiive Perplexity LLC is a Delaware limited liability company that filed a Form D with the SEC on February 5, 2025 as a venture capital fund. The filing claims Rule 506(b), Section 3(c), Section 3(c)(1) for an offering of pooled investment fund interests. AltStreet links the issuer to Clarity.
Is Hiive PAI Series I a Series of Hiive Perplexity LLC legit?AltStreet does not rate legitimacy; it reports the public record. Hiive PAI Series I a Series of Hiive Perplexity LLC filed a Form D with the SEC on February 5, 2025 claiming Rule 506(b), Section 3(c), Section 3(c)(1). A Form D is a notice of an exempt offering, not a review or approval of it. The newest notice reports $4,999,811 sold to 60 investors. AltStreet's enforcement record (SEC, FINRA and state actions) shows no action naming the issuer as of today. The issuer is linked to Clarity, which AltStreet has reviewed. Before investing, confirm the filing on EDGAR, check the seller's registration on FINRA BrokerCheck, and read the offering documents, which a Form D does not include.
Is Hiive PAI Series I a Series of Hiive Perplexity LLC registered with or approved by the SEC?No. A Form D is a notice that an issuer is selling securities under an exemption from registration, and the SEC does not review, approve, or pass on the merits of the offering. The filing shows that Hiive PAI Series I a Series of Hiive Perplexity LLC claimed Rule 506(b), Section 3(c), Section 3(c)(1) and disclosed the items the form requires, such as the amount sold, the minimum investment, related persons, and anyone paid to sell the securities. It does not verify the issuer's claims or its business.
How much has Hiive PAI Series I a Series of Hiive Perplexity LLC raised?Hiive PAI Series I a Series of Hiive Perplexity LLC reported $4,999,811 sold from 60 investors of a $4,999,811 total offering as of the Form D filed February 5, 2025.
Who can invest in Hiive PAI Series I a Series of Hiive Perplexity LLC?The offering relies on Rule 506(b), which permits sales to accredited investors and to no more than 35 non-accredited investors who meet a sophistication standard, and prohibits general solicitation. Because the fund also relies on Section 3(c)(1), it may have no more than 100 beneficial owners. The filing reports no non-accredited investors. The filing lists the minimum investment as $0, meaning no minimum was stated.
What is the minimum investment in Hiive PAI Series I a Series of Hiive Perplexity LLC?The Form D lists the minimum investment as $0, which means the issuer did not state a minimum on the form. The offering documents, not the Form D, set the actual subscription terms.
Who is selling Hiive PAI Series I a Series of Hiive Perplexity LLC and how are they paid?The Form D names no recipient of sales compensation, which usually means the issuer or its affiliates are placing the securities directly. Sales commissions are reported as $0 and finders' fees as $0. Form D allows these to be estimates.
Who is behind Hiive PAI Series I a Series of Hiive Perplexity LLC?The Form D lists 2 related persons: Sydecar LLC, director (Administrator of the Issuer); Brett Sagan, executive officer (Officer of the Issuer's Administrator). Form D Item 3 requires executive officers, directors, and promoters of the issuer to be listed.
Where is Hiive PAI Series I a Series of Hiive Perplexity LLC located?The issuer's address on its SEC filings is 2093 Philadelphia Pike, 5885, Claymont, DE 19703. Its phone number of record is (360) 946-0604. It is organized under the laws of Delaware.
How long is the Hiive PAI Series I a Series of Hiive Perplexity LLC offering open?The issuer indicated that the offering is not intended to last more than one year. An issuer must amend its Form D annually while a continuing offering stays open, and no amendment is on record yet.
How large is Hiive PAI Series I a Series of Hiive Perplexity LLC?The issuer declined to disclose its revenue range on the Form D, which the form permits.
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Parent Platform
Clarity
Pre Ipo - Est. 2021
Min invest$25,000
EligibilityAccredited Only
LiquidityLocked
AuditUnknown
Lowest platform minimum — individual offerings may vary
Read Full Analyst Review
Sponsor EDGAR Footprint
Entities on EDGAR158
Total raised$869M
Total investors9,762
Vintages2024–2026
Aggregated across this platform's Form D entities tracked by AltStreet. Source: SEC EDGAR.
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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. EDGAR entity profiles and deal-level data are reviewed by AltStreet analysts with backgrounds in corporate finance and securities law — cross-referenced against offering circulars, audited financial statements, and primary regulatory filings before publication. Platform-provided information, where present, is clearly labeled and does not affect EDGAR data or AltStreet editorial coverage. Platforms may request factual corrections for demonstrable inaccuracies by contacting [email protected]. This page does not constitute investment advice.