Firms

Pinegrove Venture Partners

Pinegrove Venture Partners

San Francisco, California, United States · Menlo Park, California, United States

Venture investment platform formed in 2023 with backing from Brookfield Asset Management and HRTG Partners, formerly Sequoia Heritage. Pinegrove supports the innovation economy through venture fund primaries and co-investments, venture debt and private credit, and technology growth secondaries. Its strategies span artificial intelligence, infrastructure, enterprise software, healthcare, life sciences and defense. Current verified leaders include CEO and managing partner Aaron Gershenberg, managing partners Sulu Mamdani and Thorben Hett, and partner Dave Mullen. Pinegrove acquired the distinct SVB Capital operating platform in September 2024, which was rebranded Pinegrove Ventures. Its Strategic Investors Fund XII closed at $1.5 billion on September 10, 2026 across Early and Scale strategies; the platform-wide $15 billion-plus AUM is not the size of that fund. Ramp explicitly named Pinegrove Venture Partners in its June 2026 Series F.

Founded
2023
Type
Venture capital

Funds2

  • Strategic Investors Fund XII$1.5B

    Final $1.5 billion close across Early and Scale strategies. Early allocates to early-stage venture managers; Scale allocates to expansion-stage managers and selective co-investments. Combined amount recorded once, not once per sleeve.

  • Innovation Credit Fund VIII, L.P. (formerly SVB / WestRiver)—

    Delaware venture-credit limited partnership, SEC private-fund identifier 805-7184151064 and historical CIK 1754832. Pinegrove Venture Partners LLC’s official Form ADV filed 1 June 2026 names Innovation Credit Fund VIII, LP and general partner Pinegrove Innovation Credit Partners VIII, LLC. Historical exact aliases are SVB Innovation Credit Fund VIII, L.P. and WestRiver Innovation Lending Fund VIII, L.P., verified by California DFPI. In 2021 its operating address was c/o SVB Capital Finance and Operations; contemporary primary filings identify SVB Financial Group as legal adviser and manager of general partner SVB Innovation Credit Partners VIII, LLC. Akili’s May 2021 loan agreement names this fund and the original Silicon Valley Bank as separate lenders. Current Pinegrove management is not retroactively attributed to original 2021 cash checks. Fund VIII-A and splitter vehicles remain distinct and are not assumed to be Akili lenders. Reported gross assets, portfolio loan commitments and individual public LP contributions or redemptions do not establish the fund’s total committed capital or actual closing date; both remain undisclosed.

Team

Operations and support

Aaron GershenbergAaron GershenbergCEO and Managing Partner
Sulu MamdaniManaging Partner
Thorben HettManaging Partner

Co-investing

137 Ventures
  • Ramp$750M · 2026-06-04
8VC
  • Ramp$750M · 2026-06-04
Alex Tran
  • Ramp$750M · 2026-06-04
Amin Mirzadegan
  • Ramp$750M · 2026-06-04
Avenir Growth
  • Ramp$750M · 2026-06-04

Investments