Pear Ventures Management, LLC
SEC exempt reporting adviser (venture capital exemption).
- Website
- HTTP://PEAR.VC
- HQ
- CA
Pear Ventures Management partners with early-stage founders, often before they have more than an idea. The firm lists several partners and venture partners, including founding managing partners Mar Hershenson and Pejman Nozad. Its portfolio includes Gusto, a payroll, benefits, and HR company for small businesses.
01 · Says / Does
| Tag | Says | Does | Historically (to 2020) |
|---|---|---|---|
| Stages | Seed | Not enough dated deals | Seed, Series A |
| Sectors | Not stated | Not enough dated deals | Data analytics, Enterprise SaaS, AI applications, Consumer, Fintech, Ecommerce, Media |
| Regions | Not stated | Not enough dated deals | CA |
Says: what the firm's funds state. Does: from 0 dated deals in the last 24 months.
Historical focus (through 2020), derived from historical deal data.
| Year | Deals | Top sectors |
|---|---|---|
| 2012 | 1 | Enterprise SaaS, Fintech, HR and future of work |
| 2013 | 9 | Consumer, Data analytics, Ecommerce |
| 2014 | 16 | Data analytics, Enterprise SaaS, Ecommerce |
| 2015 | 13 | Ecommerce, Consumer, Fintech |
| 2016 | 30 | Data analytics, AI applications, Consumer |
| 2017 | 17 | AI applications, Data analytics, Enterprise SaaS |
| 2018 | 18 | Data analytics, AI applications, Construction and proptech |
| 2019 | 15 | Enterprise SaaS, AI applications, Biotech |
| 2020 | 3 | Climate hardware, Fintech, Media |
Stage mix over time
- Pre-seed
- Seed
- Series A
- Series B
- Growth
| Year | Pre-seed | Seed | Series A | Series B | Growth |
|---|---|---|---|---|---|
| 2012 | 0 | 1 | 0 | 0 | 0 |
| 2013 | 0 | 4 | 4 | 0 | 0 |
| 2014 | 0 | 9 | 4 | 1 | 0 |
| 2015 | 0 | 6 | 2 | 3 | 0 |
| 2016 | 0 | 11 | 3 | 1 | 3 |
| 2017 | 3 | 5 | 5 | 2 | 1 |
| 2018 | 4 | 9 | 3 | 0 | 0 |
| 2019 | 3 | 1 | 6 | 2 | 1 |
| 2020 | 1 | 1 | 1 | 0 | 0 |
| 2021 | 0 | 0 | 0 | 0 | 0 |
| 2022 | 0 | 0 | 0 | 0 | 0 |
| 2023 | 0 | 0 | 0 | 0 | 0 |
| 2024 | 0 | 0 | 0 | 0 | 0 |
| 2025 | 0 | 0 | 0 | 0 | 0 |
| 2026 | 0 | 0 | 0 | 0 | 0 |
02 · Fund history
| Fund | Year | Size | Status |
|---|---|---|---|
| Pear Ventures V, L.P. Pear partners with early-stage founders, often before they have more than an idea. It invests at seed and through its PearX accelerator, offering hands-on support with first hires, first customers and fundraising. Inferred from the firm's website | approx. 2025 | $400M (Form D) | Raising |
| Pear Ventures IV, L.P. Pear partners with early-stage founders, often before they have more than an idea. It invests at seed and through its PearX accelerator, offering hands-on support with first hires, first customers and fundraising. Inferred from the firm's website | approx. 2022 | $410M to $418.52M (Form D and SEC adviser filing) | Late investment period |
| Pear Ventures II Expansion, L.P. | 2021 | $74M to $75M (Form D) | Follow-ons only |
03 · People across funds
- Mar Hershenson, Founder Managing Partner
Pear Ventures V, L.P. (Named on Form D); Pear Ventures IV, L.P. (Named on Form D); Pear Ventures II Expansion, L.P. (Named on Form D)
- Pejman Nozad, Founding Managing Partner
Pear Ventures V, L.P. (Named on Form D); Pear Ventures IV, L.P. (Named on Form D); Pear Ventures II Expansion, L.P. (Named on Form D)
- Ajay Kamat, Partner
Pear Ventures V, L.P. (Team); Pear Ventures IV, L.P. (Team); Pear Ventures II Expansion, L.P. (Team)
- Andrew Parambath, Venture Partner
Pear Ventures V, L.P. (Team); Pear Ventures IV, L.P. (Team); Pear Ventures II Expansion, L.P. (Team)
- Aparna Sinha, Advisor
Pear Ventures V, L.P. (Team); Pear Ventures IV, L.P. (Team); Pear Ventures II Expansion, L.P. (Team)
- Arash Afrakhteh, Partner
Pear Ventures V, L.P. (Team); Pear Ventures IV, L.P. (Team); Pear Ventures II Expansion, L.P. (Team)
- Harris Stolzenberg, Partner
Pear Ventures V, L.P. (Team); Pear Ventures IV, L.P. (Team); Pear Ventures II Expansion, L.P. (Team)
- Khalil Fuller, Partner & Head of Dorm
Pear Ventures V, L.P. (Team); Pear Ventures IV, L.P. (Team); Pear Ventures II Expansion, L.P. (Team)
- Pepe Agell, Partner
Pear Ventures V, L.P. (Team); Pear Ventures IV, L.P. (Team); Pear Ventures II Expansion, L.P. (Team)
- Ryan Sells, Partner
Pear Ventures V, L.P. (Team); Pear Ventures IV, L.P. (Team); Pear Ventures II Expansion, L.P. (Team)
- Shravan Reddy, Partner
Pear Ventures V, L.P. (Team); Pear Ventures IV, L.P. (Team); Pear Ventures II Expansion, L.P. (Team)
- Shruti Merchant, Partner
Pear Ventures V, L.P. (Team); Pear Ventures IV, L.P. (Team); Pear Ventures II Expansion, L.P. (Team)
- Warren Shaeffer, Venture Partner
Pear Ventures V, L.P. (Team); Pear Ventures IV, L.P. (Team); Pear Ventures II Expansion, L.P. (Team)
04 · Recent deals
No dated deals found yet.
05 · Latest from the firm
No news from the firm's website yet.
06 · Sources
Fund dates and sizes are from SEC Form D filings.
Last verified: Oct 28, 2026