Peterson Ventures Closes Fund IV & Opportunity Fund I, Together Totaling $140M

Peterson Ventures, a Salt Lake City, UT-based pre-Series A venture firm that invests across SaaS and digital commerce, raised over $140M in new capital for its Fund IV and Opportunity Fund I.

Peterson Ventures’ Fund IV will invest up to ~$2.5M into Seed and Pre-seed stage startups.

The Opportunity Fund I will allow the firm to invest in follow-on checks at growth stage in breakout portfolio company from its core funds.

With the launch of these two new funds, Peterson Ventures now has over $550M in assets under management.

Peterson Ventures was established in 2012 by Ben Capell (Managing Director), Ilana Stern (General Partner) and Taylor Jones (Principal). The firm pursues a vertical strategy that invests in SaaS. They are looking for entrepreneurs who disrupt distribution, bypassing middlemen to get more access to customers and provide better products at a higher value to the end customer.

Peterson Ventures sources investment from a three-pronged strategy:

1) the firm’s roots in the Utah tech hub, a state which saw $26B in transaction value generated in 2020;

2) access to the talent and entrepreneurial ecosystem at Stanford’s GSB MBA program, where the firm’s partners have a deep network from decades of teaching and investing in students as well as alumni; and

3) An alumni network that refers companies to Peterson Ventures.

To date, the firm has invested in six unicorns and had 2 IPO’s in the last ten years, including Allbirds, Ethos, and Lucid Software.

Peterson Ventures has invested nearly 100 dollars in SaaS and Digital Commerce startups.

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