# Pear VC: portfolio, investments and team

> Pear VC is a vc firm based in United States. 251 investments on record, 50 in the last 12 months, latest Sept 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/pear-vc (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Pear VC

Last cheque observed Sep 2026; 251 cheques on record.

Email

Deploying now New fund $9.4M, Oct 2026 VC firm

Pre-seed Seed AI & Machine Learning Advanced Materials Advertising (AdTech)

Follow Pear VC and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fpear-vc)

Deploying now

**68%** of best year **50** **cheques in 12 months**, 251 on record

Since the last cheque **32** days **00** hrs **00** min **00** sec

Median round **$10M** Cheque size, as they say **$150K – $4.0M** Rounds led **0 of 251** Sole investor **15 rounds** Mostly in **United States, 90%**

Pitch Pear VC

## Pear VC highlights

- 01 50 cheques in the last 12 months
- 02 Mostly Seed and Series A: 59% of its rounds
- 03 Sole investor in 15 rounds, median $3.0M

## What they do

> We’re specialists in pre-seed and seed. From their own website

- **Type:** VC firm
- **Cheque size:** $150K – $4.0M as they say
- **Stages:** Pre-seed Seed
- **Sectors:** AI & Machine Learning Advanced Materials Advertising (AdTech)
- **Based in:** Menlo Park, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **251 appearances**

- **2026** 39 rounds
- **Sept** **[Hertha Metals](https://millionrounds.com/company/hertha-metals)** Series A · US · Ventureburn **$134M** With 8 others
- **Sept** **[Adaptive Real Estate](https://millionrounds.com/company/adaptive-real-estate)** Series B · US · AlleyWatch **$30M** With 7 others
- **Sept** **[Forus](https://millionrounds.com/company/forus)** Series C · US · TechStartups **$150M** With 9 others
- **Sept** **[Hertha Metals](https://millionrounds.com/company/hertha-metals)** Debt · US **$69M** With 4 others
- **Sept** **[ImpriMed](https://millionrounds.com/company/imprimed)** Series A · US **$10M** With 3 others
- **Sept** **[updoc](https://millionrounds.com/company/updoc)** Grant · AU **$9.2M** With 4 others
- **Sept** **[Piston](https://millionrounds.com/company/piston)** Series A · FR **$15M** With 3 others
- **Aug** **[Gravis Robotics](https://millionrounds.com/company/gravis-robotics)** Series A · CH · Pear VC **$200M** With 2 others
- **Aug** **[Lambda Surgical](https://millionrounds.com/company/lambda-surgical)** Seed · US **$6.5M** With 3 others
- **Aug** **[WindBorne Systems](https://millionrounds.com/company/windborne-systems)** Series B · US **$37M** With 2 others
- **Aug** **[Vals AI](https://millionrounds.com/company/vals-ai)** Series A · US **$40M** With 3 others
- **Jul** **[Quadric](https://millionrounds.com/company/quadric)** Series C · US **$16M** With 4 others
- **Jun** **[Andera](https://millionrounds.com/company/andera)** Series A · US **$37M** With 1 other
- **Jun** **[Convey](https://millionrounds.com/company/convey)** Series A · US **$38M** With 2 others
- **Jun** **[Reset Financial Technologies](https://millionrounds.com/company/reset-financial-technologies)** Seed · US **$6.0M** With 2 others
- **May** **[Kin Health](https://millionrounds.com/company/kin-health)** Seed · US · TechCrunch **$9.0M** With 12 others
- **May** **[Forus](https://millionrounds.com/company/forus)** Series B · US · Ventureburn **$123M** With 7 others
- **May** **[Senti Biosciences](https://millionrounds.com/company/senti-biosciences)** Debt · US **$10M** With 4 others
- **May** **[Portal](https://millionrounds.com/company/portal)** Venture · US **$9.0M** Sole investor
- **Apr** **[Series](https://millionrounds.com/company/series)** Pre-seed · US · TechCrunch **$5.1M** With 3 others
- **Apr** **[Tava Health](https://millionrounds.com/company/tava-health)** Series C · US · Ventureburn **$40M** With 6 others
- **Apr** **[Insight Health](https://millionrounds.com/company/insight-health)** Series A · Ventureburn **$11M** With 3 others
- **Apr** **[Greatly Health](https://millionrounds.com/company/greatly-health)** Seed · US **$4.0M** With 1 other
- **Apr** **[Tycoon](https://millionrounds.com/company/tycoon)** Pre-seed · US **$1.3M** Sole investor
- **Apr** **[Real Sports App](https://millionrounds.com/company/real-sports-app)** Venture · US **$12M** With 1 other
- **Mar** **[Nomadic](https://millionrounds.com/company/nomadic)** Seed · US · TechCrunch **$8.4M** With 2 others
- **Mar** **[Rexi](https://millionrounds.com/company/rexi)** Pre-seed · AR · Contxto **$1.2M** With 5 others
- **Mar** **[Clasp.com](https://millionrounds.com/company/clasp-com)** Series B · US **$20M** With 4 others
- **Mar** **[Memebox](https://millionrounds.com/company/memebox)** Venture · US **$10M** With 4 others
- **Mar** **[Rove](https://millionrounds.com/company/rove)** Seed · US **$4.0M** With 4 others
- **Mar** **[Moda](https://millionrounds.com/company/moda)** Seed · US **$7.5M** With 2 others
- **Feb** **[Amari AI](https://millionrounds.com/company/amari-ai)** Seed · US **$4.5M** With 2 others
- **Feb** **[Burst](https://millionrounds.com/company/burst)** Seed · US **$2.1M** With 1 other
- **Jan** **[Cambio](https://millionrounds.com/company/cambio)** Series A · US · Crunchbase News **$18M** With 9 others
- **Jan** **[Listen Labs](https://millionrounds.com/company/listen-labs)** Series B · US · Ventureburn **$69M** With 4 others
- **Jan** **[Snout](https://millionrounds.com/company/snout)** Debt · US **$100M** With 3 others
- **Jan** **[BioAge Labs](https://millionrounds.com/company/bioage-labs)** US **$115M** With 5 others
- **Jan** **[Guard Owl](https://millionrounds.com/company/guard-owl)** Seed · US **$3.0M** Sole investor
- **Jan** **[Quadric](https://millionrounds.com/company/quadric)** Series C · US **$30M** With 3 others
- **2025** 70 rounds
- **Dec** **[Bobyard](https://millionrounds.com/company/bobyard)** Series A · US · Ventureburn **$35M** With 6 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **3 named**

MH **Mar Hershenson** Managing Member of Pear Ventures Management, LLC i Form ADV

PN **Pejman Nowzad** Managing Member of Pear Ventures Management, LLC i Form ADV

PN **Pejman Nozad** Managing Director of the Manager i Filing they signed

We also hold **26** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$1.2B** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** PEAR Ventures Management, LLC
- **SEC number:** CRD 170211

Funds they back

## 1 fund commitment on record

- **Managers:** 1

Every fund on record that it has committed money to, and the managers who invest it. Source: fund news.

Managers it backs most

- [Sarah Smith Fund 1 fund](https://millionrounds.com/fund/sarah-smith-fund)

Most recent commitments

- [Sarah Smith Fund Fund I](https://millionrounds.com/fund/sarah-smith-fund)

## What they claim to have backed

From their own portfolio page (on their website)

**0** of 3 we have independently watched raise

link link link

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

New fund on file

**$9.4M**

raised in Oct 2026

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Pre-seed Seed

Median round joined **$10M** the round, not its cheque Alone, median **$3.0M**

Led 0 of 251 rounds **0%**

- **Said size:** $150K – $4.0M
- **Sole investor:** 15 rounds
- **Last cheque:** Sept 2026

Rounds by stage said on their site

- Seed said *76*
- Series A *58*
- Venture *46*
- Series B *24*
- Pre-seed said *16*
- Series C *8*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Y Combinator](https://millionrounds.com/fund/y-combinator) 25
- [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) 20
- [8VC](https://millionrounds.com/fund/8vc) 15
- [Flybridge](https://millionrounds.com/fund/flybridge) 13
- [Khosla Ventures](https://millionrounds.com/fund/khosla-ventures) 12
- [General Catalyst](https://millionrounds.com/fund/general-catalyst) 11

**Pitching Pear VC?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Pear VC. A count of rooms they were both in, not a relationship either has claimed.

[**Y Combinator** Accelerator **25** rounds together](https://millionrounds.com/fund/y-combinator)[**Andreessen Horowitz** VC firm **20** rounds together](https://millionrounds.com/fund/andreessen-horowitz)[**8VC** VC firm **15** rounds together](https://millionrounds.com/fund/8vc)[**Flybridge** VC firm **13** rounds together](https://millionrounds.com/fund/flybridge)[**Khosla Ventures** VC firm **12** rounds together](https://millionrounds.com/fund/khosla-ventures)[**General Catalyst** VC firm **11** rounds together](https://millionrounds.com/fund/general-catalyst)[**Lightspeed Venture Partners** VC firm **11** rounds together](https://millionrounds.com/fund/lightspeed-venture-partners)[**Plug and Play** Accelerator **11** rounds together](https://millionrounds.com/fund/plug-and-play)[**SV Angel** VC firm **11** rounds together](https://millionrounds.com/fund/sv-angel)[**BoxGroup** VC firm **10** rounds together](https://millionrounds.com/fund/boxgroup)[**Gaingels** Private equity **10** rounds together](https://millionrounds.com/fund/gaingels)[**Menlo Ventures** VC firm **10** rounds together](https://millionrounds.com/fund/menlo-ventures)

## Recently backed

The latest companies Pear VC put money into.

[**Adaptive Real Estate** $30M · Sept 2026](https://millionrounds.com/company/adaptive-real-estate)[**Forus** $150M · Sept 2026](https://millionrounds.com/company/forus)[**updoc** $9.2M · Sept 2026](https://millionrounds.com/company/updoc)[**Piston** $15M · Sept 2026](https://millionrounds.com/company/piston)[**Gravis Robotics** $200M · Aug 2026](https://millionrounds.com/company/gravis-robotics)[**Lambda Surgical** $6.5M · Aug 2026](https://millionrounds.com/company/lambda-surgical)

## On podcasts

3 episodes naming Pear VC in the title, and 4 more that mention it.

- [Alt Goes Mainstream](https://millionrounds.com/podcasts/alt-goes-mainstream) 19 Sept 2023 · 50 min How "tech's most unlikely venture capitalist," Pear VC's Pejman Nozad, has built a seed investing powerhouse Mentions [Pear VC](https://millionrounds.com/fund/pear-vc)[Pejman Nozad](https://millionrounds.com/fund/pejman-nozad)[Mar Hershenson](https://millionrounds.com/person/mar-hershenson) Apple PodcastsShow page
- [Latitud Podcast](https://millionrounds.com/podcasts/latitud) 11 Apr 2023 · 49 min #138 – Successfully teaching, creating, founding, and investing: Mar Hershenson, Pear VC With [Mar Hershenson](https://millionrounds.com/person/mar-hershenson) Mentions [Pear VC](https://millionrounds.com/fund/pear-vc) Apple Podcasts
- [All-In](https://millionrounds.com/podcasts/all-in) 30 May 2022 · 38 min #AIS: Pear VC's Mar Hershenson on making successful founders With [Mar Hershenson](https://millionrounds.com/person/mar-hershenson) Mentions [Pear VC](https://millionrounds.com/fund/pear-vc) Apple PodcastsShow page

### Mentioned in

- [EU-Startups Podcast](https://millionrounds.com/podcasts/eu-startups) 25 Sept 2025 · 26 min Episode 137: Sergio González: CEO & Co-Founder of Remuner – Fixing Broken Incentives with AI Sales Compensation Apple PodcastsShow page
- [The Full Ratchet](https://millionrounds.com/podcasts/full-ratchet) 27 May 2024 · 35 min 435. How a Sports Journalist, Car Washer, and Rug Salesman Built a Tier 1 VC Firm (Pejman Nozad) Apple PodcastsShow page
- [Venture Unlocked](https://millionrounds.com/podcasts/venture-unlocked) 22 Dec 2023 · 48 min Pejman Nozad of Pear on building a $800MM+ AUM firm as an immigrant who sold Persian rugs before going into VC Apple PodcastsShow page
- [The Full Ratchet](https://millionrounds.com/podcasts/full-ratchet) 20 Feb 2023 · 35 min 371. Are Founders Born or Made?, What it Takes to Raise a Series A in 2023, and Weighing the Balance of Unit Economics vs Growth (Mar Hershenson) Apple PodcastsShow page

## Quick answers about Pear VC

### What does Pear VC invest in?

Pear VC invests most often at Seed and Series A (59% of the rounds on record), in sectors such as AI & Machine Learning, Advanced Materials and Advertising (AdTech).

### How active is Pear VC?

251 investments on record, 50 of them in the last 12 months. The most recent was in Sept 2026.

### What has Pear VC invested in recently?

Its most recent investments on record: Hertha Metals (Series A, Sept 2026), Adaptive Real Estate (Series B, Sept 2026) and Forus (Series C, Sept 2026).

### How big are Pear VC's cheques?

The median round it joins is $10M. It says it writes cheques of $150K to $4.0M.

### Does Pear VC lead rounds?

Rarely, if at all: none of its 251 investments on record names it as the lead.

### Where does Pear VC invest?

Most of the companies it backs are in the United States (90%).

### Is Pear VC investing now?

Yes: it is actively investing, with 50 investments in the last 12 months.

### Who does Pear VC invest alongside?

Most often Y Combinator (25 rounds together), Andreessen Horowitz (20 rounds together) and 8VC (15 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=pear-vc) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=pear-vc)