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Pear VC, formerly known as Pejman Mar Ventures, is a prominent venture capital firm founded by Pejman Nozad and Mar Hershenson in 2013. The firm rebranded in August 2016, unveiling its second fund of $75 million. Pear VC specializes in pre-seed and seed stage investments, focusing on startups emerging from the Stanford ecosystem. The firm has a total AUM exceeding $800 million, with its latest fund, Fund IV, closing at $432 million in May 2023, nearly three times the size of its predecessor.
Located in the heart of Silicon Valley, Pear VC has backed over 150 companies, including notable exits like DoorDash and Guardant Health. The firm operates on a unique no-salary model for its founding partners, which aligns their interests closely with those of the founders they support. This model fosters a collaborative environment, allowing Pear VC to provide tailored support and resources to its portfolio companies.
Pear VC's investment strategy is centered on identifying and nurturing innovative startups at their earliest stages. The firm primarily invests in pre-seed and seed rounds, with check sizes ranging from $250,000 to $5 million, and follow-on investments up to $10 million. Pear VC is particularly known for its structured accelerator program, PearX, which offers resources such as cloud credits, coaching, and collaborative workspaces to help founders develop their ideas into viable businesses.
The firm emphasizes a strong connection to the Stanford/Bay Area ecosystem, with approximately 50% of its portfolio companies having student-founder origins. Pear VC seeks exceptional founders who demonstrate a clear vision and the ability to execute their ideas. The firm’s focus on early entry into the market often means backing companies before they have launched their products, allowing them to shape the trajectory of these startups from the ground up.
Pear VC has built a diverse portfolio of over 150 companies, including several notable public companies and unicorns. Key portfolio highlights include:
Collectively, these companies are valued at over $300 billion, showcasing Pear VC's ability to identify and support high-potential startups.
Pejman Nozad - Co-founder. Nozad is an Iranian immigrant who famously sold Persian rugs in Palo Alto before entering venture capital. He has been recognized on the Forbes Midas Seed List, ranking #2 in 2022 and #15 overall.
Mar Hershenson - Co-founder. Hershenson holds a PhD from Stanford and has a background as a semiconductor engineer. She is also featured on the Forbes Midas List, ranking #30.
Ajay Kamat - Partner. Kamat has been featured in profiles highlighting his contributions to Pear VC and his expertise in early-stage investments.
To pitch Pear VC, founders should visit their website at pear.vc. The pitch deck should include a clear overview of the business model, market opportunity, and team background. Pear VC prefers pitches that highlight innovative ideas and strong execution capabilities.
Response times can vary, but founders should expect to hear back within a few weeks. Warm introductions are highly recommended to improve the chances of getting noticed by the firm.
Pear VC operates the PearX accelerator program, which provides resources such as cloud credits, coaching, and collaborative workspaces to help founders develop their ideas into viable businesses. This program is designed to support early-stage startups in navigating the challenges of growth.
In 2024, Pear VC introduced the 'Emerging Managers in Residence' program, which aims to empower new venture capitalists by providing them with resources and mentorship.
In May 2023, Pear VC closed its fourth fund at $432 million, which was oversubscribed and nearly three times the size of its previous fund. This marked a significant milestone in the firm's growth.
In September 2024, Pear VC launched the 'Emerging Managers in Residence' program aimed at empowering up-and-coming venture capitalists.
Additionally, Pear VC partnered with Microsoft to drive AI innovation through the Microsoft for Startups program, further enhancing its commitment to supporting innovative startups.
What are Pear VC's investment criteria?
Pear VC focuses on pre-seed and seed stage investments, primarily targeting startups with exceptional founders, particularly those emerging from the Stanford ecosystem. The firm looks for innovative ideas and strong execution capabilities.
How can I apply or pitch to Pear VC?
Founders can pitch Pear VC through their website at pear.vc. It is recommended to include a clear business model, market opportunity, and team background in the pitch deck.
What makes Pear VC different from other venture capital firms?
Pear VC operates on a no-salary model for its founding partners, which aligns their interests with those of the founders. This unique structure fosters a collaborative environment and allows for tailored support to portfolio companies.
What is the geographic scope of Pear VC's investments?
The firm primarily invests in startups located in the Stanford/Bay Area ecosystem, although it remains open to exceptional founders from other regions.
What kind of post-investment involvement does Pear VC have?
Pear VC provides extensive support to its portfolio companies through mentorship, strategic guidance, and access to resources. The firm’s structured accelerator program, PearX, is a key component of this support.
What is the typical check size for investments?
Pear VC typically invests between $250,000 and $5 million in pre-seed and seed rounds, with follow-on investments reaching up to $10 million.
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