Pelion Ventures Closes Fund V At $194M

Salt Lake City, Utah-based venture capital investor Pelion Ventures, which has backed such companies as Red Hat, Fusion-io, Riverbed, and MXLogic, has closed out its fifth fund at $194M. The firm said the funding was oversubscribed, exceeding an original target of $175M. Pelion has investments in Domo, Soasta, Venafi, CloudFlare, Bitcasa, and many other companies. The firm said the limited partners included sovereign wealth funds, public pension funds, endowments, funds of funds, and foundations. The new funding close was announced last week.