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§ Venture Capital · UT, USA
Invests in early-stage B2B software-based companies, focusing on technology-enabled business solutions with scalable growth potential.
Pelion Venture Partners helps entrepreneurs and invests in early-stage B2B software-based companies.
Key people at Pelion Venture Partners.
Pelion Venture Partners is an early-stage venture capital firm specializing in investments in B2B software-based companies that offer technology-enabled business solutions with scalable growth potential. Their mission centers on partnering with technology founders to build disruptive businesses that transform industries, providing not only capital but also expertise, time, and networks to support entrepreneurial success. Pelion primarily invests in sectors such as B2B SaaS, fintech, marketplaces, cloud computing, and security, focusing on startups across the United States with strong growth trajectories[1][2].
Founded in 1986 and based in Utah, Pelion has evolved from its original identity as Utah Ventures to become the oldest and largest early-stage venture firm in the state. Key partners include Managing Partner Blake Modersitzki, who joined in 2002 from Novell’s corporate venture capital division, helping shape Pelion’s current strategy and team. Over the years, Pelion has invested in nearly 100 companies and deployed close to $800 million in capital, with notable exits such as Cloudflare and Divvy. The firm recently raised $500 million for its eighth early-stage fund, demonstrating ongoing growth and commitment to backing innovative startups[1][2][4].
Pelion rides the wave of increasing demand for scalable, technology-driven business solutions in the B2B software space. The timing is favorable due to accelerating digital transformation across industries, growing adoption of cloud computing, and the rise of fintech and marketplace platforms. Pelion’s focus on early-stage companies positions it to influence the ecosystem by nurturing disruptive innovations that can reshape traditional business models and drive economic growth, especially within the burgeoning Utah tech scene[1][2].
Looking ahead, Pelion is poised to continue expanding its influence by deploying its latest $500 million fund to back promising startups that align with emerging technology trends such as AI, cloud infrastructure, and fintech innovation. The firm’s commitment to founder-centric support and its strong regional roots in Utah provide a solid foundation for sustained impact. As digital transformation accelerates globally, Pelion’s role as a catalyst for early-stage B2B software innovation is likely to grow, further shaping the venture capital landscape and the broader tech ecosystem[1][2].
Key people at Pelion Venture Partners.
Pelion Venture Partners has more than 26 tracked investments across 26 companies. The latest tracked deal is $10.0M Series B in Mojo AI in February 2026.
