Key Takeaways
- • Pear VC closed Pear Fund V at $333 million, bringing the firm's assets under management above $1.1 billion, according to HedgeCo.Net.
- • Fund V is smaller than Pear Fund IV, which closed at $432 million in 2023, a step-down the firm frames as continuity of its early-stage model.
- • Pear promoted Arash Afrakhteh, Ajay Kamat and Shravan Reddy to general partner alongside the close.
- • The firm will keep its focus on pre-seed and seed stages, aiming to meet founders before categories become crowded.
- • A smaller fund signals to limited partners faster, earlier deployment, which may affect DPI timing if Pear keeps winning ownership at the first institutional round.
Summary
Pear VC has closed Pear Fund V at $333 million, lifting the firm's assets under management above $1.1 billion, according to HedgeCo.Net. The vehicle is smaller than Pear Fund IV, which closed at $432 million in 2023. Co-founders Mar Hershenson and Pejman Nozad positioned Fund V as a continuation of Pear's early-stage model rather than a pursuit of larger late-seed checks. The firm remains focused on meeting founders at pre-seed and seed before categories become crowded.
Alongside the close, Pear promoted three partners to general partner: Arash Afrakhteh, Ajay Kamat and Shravan Reddy. Afrakhteh, who joined in 2020, invests in enterprise and B2B companies across AI/ML, cloud and data infrastructure. Kamat, who joined in 2015, covers consumer, fintech and healthcare. Reddy, who joined in 2024, focuses on AI infrastructure, robotics and vertical AI.
The firm said it sees thousands of opportunities a year through its pre-seed and seed practices, PearX, university programs and founder communities. Pear has backed companies including DoorDash, Gusto, Guardant Health and Vanta.
In a market where many venture vehicles have grown larger and deployment windows have lengthened, a deliberately smaller fund signals to limited partners that Pear intends faster, earlier deployment. That could matter for DPI timing if the firm continues to win ownership at the first institutional round. For allocators, the key takeaways are the GP promotions and the reduction from Fund IV's size, which together suggest Pear is building a next leadership layer while keeping check sizes and stage focus centered on early discovery rather than crowded Series A rounds.
Alongside the close, Pear promoted three partners to general partner: Arash Afrakhteh, Ajay Kamat and Shravan Reddy. Afrakhteh, who joined in 2020, invests in enterprise and B2B companies across AI/ML, cloud and data infrastructure. Kamat, who joined in 2015, covers consumer, fintech and healthcare. Reddy, who joined in 2024, focuses on AI infrastructure, robotics and vertical AI.
The firm said it sees thousands of opportunities a year through its pre-seed and seed practices, PearX, university programs and founder communities. Pear has backed companies including DoorDash, Gusto, Guardant Health and Vanta.
In a market where many venture vehicles have grown larger and deployment windows have lengthened, a deliberately smaller fund signals to limited partners that Pear intends faster, earlier deployment. That could matter for DPI timing if the firm continues to win ownership at the first institutional round. For allocators, the key takeaways are the GP promotions and the reduction from Fund IV's size, which together suggest Pear is building a next leadership layer while keeping check sizes and stage focus centered on early discovery rather than crowded Series A rounds.
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