AI Grant

Investment Thesis

AI Grant is a highly selective fellowship program run by Nat Friedman (former GitHub CEO) and Daniel Gross (former Apple AI lead). They provide $250K+ in funding and compute to exceptional AI builders at the earliest possible stage, often before a company is even formed. Their thesis is that the best AI companies are started by exceptional individuals, and early access to capital and compute is the key constraint.

Notable AI Deals

AI Grant alumni reads like a list of the hottest AI companies: Perplexity (now valued at $9B+), Harvey (AI legal, $700M+ valuation), Character.AI, and Cursor. Friedman and Gross select fellows based on raw technical talent and ambition rather than business plans or revenue projections.

Portfolio Strategy

The program invests $250K-2M per fellow, with Friedman and Gross also making personal follow-on investments in breakout companies. Selection is extremely competitive, with thousands of applicants for 15-20 spots per cohort. They provide not just capital but direct mentorship from two of the most connected operators in tech.

Track Record

AI Grant has one of the highest hit rates of any early-stage AI investor. Perplexity alone justifies the entire program many times over. The concentration of exceptional outcomes from such small cohorts makes their portfolio per-company return among the highest in venture. Their brand attracts the very best AI talent, creating a self-reinforcing selection advantage.