Pelion Venture Partners Raises $500M for Eighth Early-stage Fund

Pelion Venture Partners said it secured $500M in capital commitments for its eighth early-stage venture fund, Pelion Venture Partners Fund VIII.

The fund attracted investments from existing and new investors of the technology and innovation-focused early-stage venture capital firm. In a January 29 LinkedIn post announcing the fund's launch, Pelion indicated that the fund has built up a global LP base.

The fund focuses on series A funding rounds of startups but also partakes in series B and C rounds. So far, it has already deployed $72M to startups that include Strider, Kapital, Remi, Nala, Jump, Commenda, Subscript, Moises and Cartwheel. The Utah-based firm, founded in 1986 as Utah Ventures, said the deployment of its latest fund would in part invest in what it calculates to be the fifth technology wave in the state.