Pejman Nozad: The Remarkable Journey of a Visionary Silicon Valley Investor

Written by Elizabeth Woodside (W’25); Edited by Khwaish Lakhiani (W’26)

In the world of venture capital and technology start-ups, Pejman Nozad stands out as a true success story. From humble beginnings to becoming one of Silicon Valley's most influential investors, Nozad has made a name for himself as a brilliant, risk-taking entrepreneur. This article delves into Pejman Nozad's extraordinary journey, his investment philosophy, and his impact on the tech industry.

From Humble Beginnings to Venture Capital Stardom

Born during the Iranian Revolution, Pejman Nozad's early life was marked by hardship and adversity. Although he looks fondly upon his childhood, he recalls that the war caused him to be exposed to the dark side of humanity at a very young age. In an interview with Wharton Women, he recounts how he would hear bombs exploding in the city during his soccer matches and how the high school he attended was shut down because of the ongoing conflict.

At just twenty years old, Nozad immigrated to the United States with a mere seven hundred dollars in his pocket. His decision to move to the United States was motivated by his older brother, who had immigrated before him, but he recalls that he did little to no risk assessment before making the decision. In the US, Pejman immediately began work at a car wash where he worked hard to become the best car washer at the company. Shortly after he took a job, and also lived in the attic, at a frozen yogurt shop where he yet again worked to be the best employee he could be. In the interview Pejman repeatedly emphasizes the concept of always working to be the best at what you do, whether it be washing cars, pouring yogurt, investing in startups, or selling rugs.

About a year after emigrating Nozad began working as a rug salesman in Menlo Park, Silicon Valley. This job was a critical point in his life; he explains that the job was about forging relationships, not just selling rugs. Pejman was wildly successful, selling over 8 million dollars of Persian rugs in his short career. He attributes much of his success as a salesman to the fact that he was truly enthralled by his buyers, who were mainly successful individuals who worked in the recently booming tech industry. He even became close friends with many of his clients, who would invite him to their houses for barbecues and dinners. Pejman even began hosting networking events at the rug store that were attended by some of the biggest names in tech today. It was during his time as a rug salesman that Pejman decided he wanted to be a part of the tech industry. He set out to do so by creating a small fund with the owner of the rug store to invest in some of the entrepreneurs he had met through his networking. Over time, Pejman Nozad developed a keen eye for identifying promising entrepreneurs and disruptive technologies. His investment portfolio now boasts several successful exits, including Dropbox, Lending Club, and Danger, which was acquired by Microsoft in 2008.

Pear VC and the Art of Nurturing Talent

In 2013, Pejman Nozad co-founded Pear VC with Mar Hershenson, a fellow investor and entrepreneur. Pejman States that he chose Mar Hershenson to be his partner because they were “completely opposite.” He was a charismatic, scrappy college dropout turned rug salesman turned venture capitalist who had quite a few years of experience in investing under his belt. She was an innovator, who was working as a Stanford professor, after earning her PhD in electrical engineering, registering 14 separate patents, and co-founding three successful startups.

Together Pejman and Mar created Pear, which is now among the top 5 most successful seed-stage venture capital firms in tech. The firm has become known for its unique approach to nurturing talent and supporting early-stage start-ups and has played an instrumental role in the growth and development of over 200 successful tech companies including Doordash, Dropbox, and Course Hero.

Nozad's investment philosophy centers around discovering entrepreneurs with exceptional potential and a clear vision for the future. During our interview, he explained that he looks for founders who have a deep relationship with the problem, are able to admit their failures and learn from their mistakes, are charismatic and can attract talented people to work with them, are paranoid in their decision making, and are what he describes as ‘captains of the ship,’ meaning they are the kind of people who will be the first to start working in the morning and the last to leave work at night.

Giving Back and Inspiring the Next Generation

Pejman Nozad's rise to prominence in the world of venture capital serves as an inspiration for aspiring entrepreneurs and investors alike. Currently, he is finishing up financing his biggest round yet and is looking forward to meeting a new round of entrepreneurs in the fall.

Pejman remains committed to helping the next generation of entrepreneurs

As a testament to his commitment to fostering new talent, Nozad has established the Pejman Foundation, a non-profit organization that aims to support educational initiatives, entrepreneurship, and social innovation.

Nozad also regularly shares his insights and experiences through speaking engagements at universities and conferences, inspiring a new generation of entrepreneurs to pursue their dreams and make a lasting impact on the world.

Pejman Nozad's remarkable journey from rug salesman to venture capital powerhouse stands as a testament to the power of perseverance, hard work, and an unwavering belief in one's abilities