Pear VC Closes $333M Fund V, Promotes Three to General Partner

Pear VC has closed its fifth flagship fund at $333 million and promoted three of its investors — Arash Afrakhteh, Ajay Kamat and Shravan Reddy — to General Partner, the firm said.

The release packages two milestones in a single announcement: a fresh $333 million pool of capital and a deeper leadership bench. Fund V is the firm's fifth vintage. General Partner is the highest investing rank inside a venture firm, above Principal.

Pear did not disclose the size of its prior fund in the announcement. The firm did not break out an initial target versus the final close. Pear also did not name the limited partners backing Fund V. The release set no deployment timeline for the new pool.

What does the promotion change?

A General Partner at a venture firm typically leads investments, sits on portfolio boards, and helps raise successor funds. The rank carries carried interest — a share of fund profits above a stated return threshold — and a seat on the investment committee.

Afrakhteh, Kamat and Reddy now hold that seat at Pear. The release did not specify their prior titles at the firm, nor did it say when each joined. The promotions arrive alongside the Fund V close. Pear broadened its leadership bench in the same week it closed fresh capital.

Three GP promotions at once is unusual at most venture firms, where the rank typically advances one partner at a time. Pear's release names three in a single announcement. The pattern signals a deliberate expansion rather than a routine succession.

What does Fund V represent?

Fund V is the firm's newest pool of outside capital. It is the checkbook Pear will deploy from as it backs new companies. The "V" denotes the fifth vintage. Pear did not describe the fund as a thematic vehicle, sector-specific pool, or strategy departure.

The $333 million figure is the headline number in the release. Pear did not state whether Fund V hit its target early, raised above target, or closed below an internal goal. The release treats $333 million as the final close.

In venture, fund closes typically follow a multi-year cadence. Capital is deployed over a three-to-five-year investing window. Returns are harvested in the following decade. Pear did not specify its investing timeline for Fund V.

What about the limited partners?

Pear did not break out the limited partner base by name. They typically include pension funds, endowments, foundations, family offices, and high-net-worth individuals. The release does not indicate whether any new institutional LPs joined for Fund V. Limited partners typically commit capital for the fund's full ten-year life, with capital returned as portfolio companies exit. The fund's investment pace will likely follow Pear's prior funds, though the release does not set a target number of investments for Fund V.

What does the announcement signal?

The joint announcement — fresh capital and a broader bench — suggests Pear is positioning for a sustained pace of investing. Pear did not state the size of Fund IV or how long the Fund V raise took. The release frames the close as a single milestone.

What comes next?

With Fund V closed and three new General Partners installed, Pear turns to deployment. The $333 million pool, paired with the broader bench, sets up the firm to write checks at its current pace over the next several years.