Pear has closed its fifth venture fund with US$333 million in commitments, bringing the firm's total assets under management to more than US$1.1 billion. The firm also announced that Arash Afrakhteh, Ajay Kamat, and Shravan Reddy have become General Partners. The milestone reinforces Pear's long-standing strategy of backing founders before they become widely known.
Origins Rooted in Early Relationships
Pear was founded thirteen years ago by Mar and Pejman, who began meeting founders in coffee shops, dorm rooms, and small offices. They spent time with people before polished pitch decks, revenue, or formal companies existed. This personal approach led to early investments in companies including DoorDash, Gusto, Guardant Health, Vanta, and Listen Labs.
A Model Centered on Non-Obvious Opportunities
The venture industry has changed with larger funds and faster financings, but Pear has chosen not to chase what is already obvious. Instead, the firm seeks extraordinary people before the market recognizes their potential and supports them through difficult and successful periods. This model is built on earning the right to be part of a founder's journey.
Scaling Access through Programs and Technology
Pear now sees thousands of opportunities each year across its Pre-Seed and Seed practices, offering an early view into emerging categories and technical talent. The firm has created PearX, university programs, hackathons, founder communities, and two studios where entrepreneurs can meet and build. An in-house engineering team develops proprietary tools and applies AI to help navigate significant deal flow.
New General Partners Bring Operating Experience
Arash Afrakhteh joined Pear in 2020 and focuses on enterprise and B2B companies across AI/ML, cloud, and data infrastructure. He previously co-founded Cariden Technologies, which Cisco acquired in 2012. Ajay Kamat joined in 2015 and invests in consumer, fintech, and healthcare companies after co-founding Wedding Party, a Pear-backed company acquired by Instacart, and served as its CEO.
Strengthening AI and Infrastructure Expertise
Shravan Reddy joined Pear in 2024 and invests in AI infrastructure, robotics, and vertical AI companies. He previously co-founded Pixelapse, which Dropbox acquired, and led engineering teams at Stripe. The addition of these three investors reflects Pear's evolution from a small partnership into an institution designed to outlast its founders.
Expanding Support Beyond Capital
Pear has built a founder services team to assist with talent, go-to-market, marketing, and fundraising when companies need more than a check. The firm also spends time with students across the country, often years before they start companies. This support system is designed to keep Pear close to the moment an idea becomes a company.
Fund V and the Next Generation
The US$333 million Fund V brings Pear's assets under management to more than US$1.1 billion, a figure that represents thirteen years of building alongside founders and Limited Partners. For Pear, the fund size matters less than the relationships behind it and the ability to continue leading Pre-Seed and Seed rounds. The new General Partners are expected to help the firm broaden its coverage across consumer, enterprise, healthcare, and AI-driven categories.
Even with more than US$1.1 billion under management, Pear describes itself as still operating at day zero, anchored by the same curiosity and personal approach that began at a Palo Alto cafe. The new fund and the next generation of General Partners are intended to strengthen that founding philosophy rather than replace it. Pear views this moment not as a culmination but as the beginning of a longer commitment to founders.