<img height="1" width="1" style="display:none;" alt="" src="https://dc.ads.linkedin.com/collect/?pid=435404&amp;fmt=gif">
597a920b1a00001800dc0ed0
How To Hire and Source The Best Millennial Employees

Several major paradigm shifts are brewing in the workplace. We're embarking on a new era—the employee relationship economy. Just like the sales funnel, no longer do employee relationships have a fixed start and end date. In this new era, employee relationships will be characterized not as end-to-end but beginning-to-beginning. ... read more

Relationship Management Startups Venture Capital

From Rugs to Riches: The Story of Silicon Valley’s Most Unlikely VC

By Anne Gherini
Pejman Nozad

Pejman Nozad has dubbed himself “tech’s most unlikely venture capitalist.” His story is one of rags to riches. In 1992, he arrived in the U.S. with only $700 to his name and with no ability to speak English. Today, he is a founding partner at Pear VC and his companies, collectively, are valued at more than $20 billion.

What was the driving factor behind Pejman’s ability to reach the highest echelons of venture capital? His relationships and his ability to leverage the power of his network.

Shortly after arriving in the U.S., Pejman landed a job at Medallion Rug Gallery in Silicon Valley. The gallery sold Persian rugs. Because the rugs had a steep price tag – to the tune of tens of thousands of dollars apiece – many of Pejman’s customers and prospects were top venture capitalists who worked nearby, on Sand Hill Road (Sequoia’s Doug Leone was an early customer).

In interacting with venture capitalists, Pejman quickly developed a passion for investing. He set out to find the next greatest entrepreneurs and business ideas. To this end, he began hosting networking events at Medallion that brought together entrepreneurs and investors.

Among the earliest attendees were Drew Houston and Arash Ferdowsi, who would go on to found Dropbox. Another attendee was Andy Rubin, who went on to create Android and sell it to Google. Pejman was among the first VCs to fund both Dropbox and Andy Rubin’s Danger.

Upon reflection, Pejman credits much of his success to being in the right place at the right time. Medallion was located on University Avenue, “the mecca of entrepreneurship.” Facebook, Google, Palantir, and Paypal all got their starts on this street. Being located on University Avenue rendered Pejman more likely to meet promising entrepreneurs.

Unfortunately, most investors today are not privy to comparable “serendipity.” The next biggest ideas are no longer concentrated on a single city street. Pejman is the first to admit that finding great entrepreneurs today is difficult. According to Pejman, since truly great entrepreneurs are insanely focused, you won’t typically find them “out in the wild” at conferences, parties, networking events, or the like. They are typically in full heads down mode.

Pejman knows that in order to find these individuals, he needs a strong network that provides key insight into up –and –coming entrepreneurs. Platforms such as Affinity have allowed Pejman to replicate the powerful physical networking environment he was able to create at Medallion, thereby increasing his odds of finding his next best investment.

Pejman initially met Affinity‘s co-founders, Shubham Goel and Ray Zhou, at Pear Venture’s “Garage” (aka Hacker House) in Palo Alto. Affinity’s co-founders camped out with Pejman and Pear Venture’s Mar Hershenson for almost a year before they came up with the idea for Affinity.

Watch Pejman Nozad interview with Jason Calacanis below:

Pear VC

how to grow your network guide

Relationship Management Startups Venture Capital