Pelion Venture Partners, a Cottonwood Heights, Utah-based venture capital firm with a proven national track record of investing in early stage technology companies, closed its seventh fund, at $365m.
Led by Blake Modersitzki, managing director, Pelion invests in software companies across the United States, partnering with technology founders in B2B SaaS, fintech, marketplaces, cloud computing and security.
Companies currently in Pelion’s Fund VII include robot delivery company Coco, sports platform Overtime, healthcare marketplace Nursa, investment platform Aumni, computing application Macrometa and payment platform Cacheflow.
Since its last fund, Pelion has both added new team members and promoted within to help execute the new fund. The new team members bring expertise into sectors such as consumer technologies, blockchain, crypto, and cloud infrastructure.
The firm has four active flagship funds, one crypto and blockchain fund, and multiple Special Purpose Vehicles under management. The portfolio has many fast growing portfolio companies, including Firefly, BigPanda, Neighbor, SteadyMD, MX Technologies and Deserve. Successful exits include Cloudflare, Divvy, Weave, Integral Ad Science and Owlet.