Peterson Ventures Research
Investment Thesis
Peterson Ventures is a pre-seed and seed-stage venture capital firm focused on backing exceptional entrepreneurs building enduring enterprises. Founded with the philosophy that "people make all the difference," Peterson Ventures invests in great people with great ideas. The firm believes in partnership-driven investments where they serve as true partners for the long term, not just financial backers. Their core belief is in "paying it forward" - building lasting relationships with entrepreneurs who often become investors and advisors themselves.
The fund explicitly focuses on helping business builders succeed through respect, true partnership, and trust. They emphasize that building a business is hard, and they position themselves as dedicated counselors without the co-pay mentality. Their approach goes beyond capital deployment to include operational support, founder network access, and strategic guidance throughout the journey from seed to Series A.
Stage and Check Size Focus
Peterson Ventures is specifically positioned as a pre-seed and seed-stage investor with an average check size of $500K to $2.5M. The fund has demonstrated consistent deployment across these stages with a particular strength in identifying early-stage opportunities. Based on recent investment data from 2024-2026, they continue to actively deploy capital into seed-stage companies, with recent investments including SchoolAI (April 2025), Mobly (January 2025), Two Boxes (September 2024), Casca (August 2025), and Diversifi (January 2026).
The fund has raised multiple vehicles for deployment. Most notably, they announced $140M in capital across Fund IV and an Opportunity Fund I in June 2022, suggesting they are actively deploying dry powder. Their headquarters and operations are based in Salt Lake City, Utah, though they have strong connections to Stanford Graduate School of Business and the Bay Area founder ecosystem.
Sector and Model Focus
Peterson Ventures' investment thesis centers on two primary industry focuses:
1. Digital Commerce:
- E-commerce platforms and tools
- Direct-to-consumer brands
- Marketplace solutions
- Shopify apps and ecosystem plays
- Customer experience innovation
2. SaaS (Software as a Service):
- B2B SaaS solutions
- B2C software applications
- Workflow automation
- AI-driven business tools
- Enterprise and SMB software
Within these sectors, they emphasize capital-efficient business models and companies relentlessly focused on finding product-market fit. They look for teams operating in large and growing markets with strong unit economics.
Team and Culture
Peterson Ventures maintains a lean, focused investment team led by Managing Director Ben Capell, who has been with the firm since inception and has raised over $300M in capital while overseeing investments in 100+ deals over 10+ years. The team includes Partners Ilana Stern (founder/former CEO of Weddington Way, lecturer at Stanford GSB) and Taylor Jones (co-founder/COO of Blue Matador, former Google and American Express executive). The firm is supported by experienced investment associates Blake Barney (former Bain & Company consultant) and Gabe Morris (former Deloitte M&A consultant), as well as Talent Partner Carolyn Carpeneti (former VP of Talent at All Raise).
The firm is backed by Peterson Partners, a larger investment platform founded by Joel Peterson (Chairman, JetBlue; teaches at Stanford GSB; author of "The 10 Laws of Trust") and managed by Clint Peterson (former TowerBrook Capital Partners senior principal with $8B+ AUM experience).
Recent Activity and Portfolio Quality
Peterson Ventures has demonstrated sustained activity and momentum through 2024-2026 with recent investments including Diversifi (January 2026), Casca (August 2025), SchoolAI (April 2025, which completed $25M Series A), Mobly (January 2025), Two Boxes (September 2024), and a portfolio exit with Sora Finance (March 2025).
The portfolio demonstrates exceptional exit quality with 23 total portfolio exits including major wins: Allbirds (NASDAQ: BIRD, public company), Ethos Life (modern life insurance), Nomi Health (healthcare network), and Lucid Software (collaboration platform). The portfolio spans digital commerce, SaaS, healthcare, fintech, and other sectors.
Investment Process and Values
Peterson Ventures employs a relationship-driven, founder-first investment process focused on exceptional people. What founders get includes: dedicated partner support, transition guidance from Seed to Series A, network introductions, quarterly CEO events, regular CXO meetups, access to peer groups, and direct communication to partners. The firm operates with an "open door policy" and emphasizes long-term relationships where many founders become investors and advisors themselves.
Geographic and Founder Preferences
Primary geographic focus includes Utah (headquarters), Bay Area/California (Stanford connections), and US broadly. Founder preferences emphasize exceptional people first, self-aware and well-rounded teams, founders with clear vision, founder-led teams with domain expertise, capital-efficient execution, and long-term builder mentality.
Fund Status
Currently actively deploying. Fund IV and Opportunity Fund I closed in June 2022 with $140M total capital. Continuous recent investments through January 2026 indicate active deployment with meaningful dry powder remaining.