Pear VC
| File:Pear VC logo.svg | |
 Menlo Park Headquarters | |
| Formerly | Pejman Mar |
|---|---|
| Company type | Private |
| Industry | Financial, Venture Capital, startup accelerator |
| Founded | 2013 |
| Founder | Pejman Nozad, Mar Hershenson |
| Headquarters | Menlo Park, California, USA |
Key people | Pejman Nozad, Mar Hershenson |
| AUM | US$800 million (2023) |
| Website | www |
Pear VC—originally known as Pejman Mar—is a venture capital firm specializing in seed-stage investments, based in Menlo Park, California. Established in 2013 by Pejman Nozad and Mar Hershenson, the firm concentrates on early-stage startups. Initially located in Palo Alto, California, Pear VC later shifted its base to Menlo Park. As of 2023, the firm oversees assets totaling roughly US$800 million.
History
Launched in 2013 under the name Pejman Mar Ventures, Pear VC encompasses both a venture capital division and an accelerator program introduced in 2014. By 2021, the accelerator had cultivated growth for 80 startup companies.
Co-founder Mar Hershenson brought experience from founding software enterprises such as Barcelona Design and Revel Touch. Meanwhile, Pejman Nozad transitioned into venture capital after careers in sports journalism and selling rugs.
In 2015, Pejman Mar organized a $250,000 startup competition at the University of California, Berkeley, subsequently broadening its fellowship and entrepreneurial initiatives under the “Pear Dorm” brand to include universities like Stanford University, Harvard University, and Massachusetts Institute of Technology.
The rebranding to Pear VC took place in 2016. Among its early-stage investments was backing DoorDash before its official launch. Other significant portfolio companies include Guardant Health, Gusto, Polarr, and Branch.
On Forbes’ 2021 Midas List, Hershenson was ranked 29th while Nozad secured the 15th position. In 2022, Nozad achieved second place on Forbes’ Midas Seed List and maintained 15th on the overall Midas List; Hershenson was positioned at number 30.
In 2022, Matt Birnbaum—previously head of talent acquisition at Instacart—joined Pear VC as the head of talent.
On March 10, 2023, CNBC reported that Pear VC had advised its portfolio startups to withdraw funds from Silicon Valley Bank prior to its failure.
During 2023, Pear VC raised $423 million dedicated to a seed venture fund targeting pre-seed and seed-stage investments within artificial intelligence sectors. This fundraising represents the firm’s largest to date. Past investors include the Inasmuch Foundation, Los Angeles Fire & Police Pension System, the Richard King Mellon Foundation, and the Passport Foundation.
Investment approach
Pear VC targets startups at the pre-seed and seed phases, integrating a venture capital division with an accelerator program to nurture emerging businesses.