Peterson Ventures, a Salt Lake City, UT-based founder-first seed stage venture firm, raised $65M in capital for its Fund III.
Peterson Ventures Fund III will invest $250k-$1M in Seed and Pre-seed stage Consumer and SaaS companies. The firm intends to make approximately 30 investments over the next three years.
Headquartered in Utah with an office in the Bay Area, Peterson Ventures is part of the Peterson Partners platform, an independent investment manager with over $900M assets under management to invest across a variety of alternative asset classes.
With the launch of their third fund, Peterson Ventures has $155M in assets under management. The firm, which has invested in top Consumer and SaaS startups ranging from AllBirds, Ethos, and Bonobos to Lucid Software and HireVue, evaluates investments based on a few key themes. In SaaS, the firm pursues a vertical strategy, with investments across healthcare, future of work and commerce infrastructure. In Consumer, the firm looks for entrepreneurs who are disrupting distribution, bypassing the middleman to get more direct access to customers and to provide higher quality products at better value to the end consumer. Their DTC investments focus on historically low NPS industries and experiences spanning retail, healthcare and financial services.
The team is led by Ben Capell, Managing Director, Clint Peterson, Managing Partner, and Ilana Stern, Partner, among others.