Elad Gil Plots $1.5 Billion Fund, Stretching Definition of a Solo GP

Venture capital firms are under pressure to make rapid-fire decisions about big checks in the frenzied world of artificial intelligence investing, straining partnerships that need a unified front. It helps sometimes to have just one decision-maker.

That makes a case for Elad Gil, a prolific investor who made early investments in Perplexity, Harvey, Stripe and Airbnb. Gil is raising a fund of around $1.5 billion to back both young and mature startups, according to two people with knowledge on the matter. He has said the fund could grow to up to $2 billion based on investor interest, according to one of those people.