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Pelion Venture Partners - The Partnership That Shaped Utah Tech

Blake Modersitzki and Chris Cooper on mentorship, long-term thinking, and what it really takes to build a legacy in venture.

Author

Casey Baugh
April 9th, 2025

What Happens When You Build the Right Way, for a Long Time

In this episode of Case Studies, I sat down with two legends in Utah’s venture scene—Blake Modersitzki and Chris Cooper, co-founders of Pelion Ventures.

Blake and Chris don’t just have the longest track record in the region—they’ve helped build the entire ecosystem.

Their story is about more than just fund returns and billion-dollar exits. It’s about patience, people, and playing the long game.

The Early Days: WordPerfect, Novell, and a Lucky Break

Before Pelion, there was WordPerfect. And Novell. And Eric Schmidt.

Blake and Chris share how they fell into tech, got mentored by giants, and stumbled into venture capital by being the guys who said yes—even when they had no idea what they were doing.

“We had no clue. But Eric handed us the keys and said, go figure it out. That changed everything.”

That yes turned into a $500M venture firm, 400+ portfolio companies, and one of the most respected names in tech.

The Power of Mentorship (And the Ripples It Creates)

This conversation is packed with stories of people who took a bet on them—then watched them pay it forward over and over again.

They share:

  • Why mentorship is the single most powerful force in a founder’s (or investor’s) life

  • What they learned from legends like Eric Schmidt and Carl Ledbetter

  • How one “yes” from a mentor changed not just their lives, but hundreds of others

What Makes a Founder Worth Betting On

After 400+ investments, you start to see patterns. Here’s what they look for:

✅ A relentless, even irrational, belief in the vision
✅ A spouse or partner who’s just as all-in
✅ A willingness to take the hill—and carry others with them

They also talk about the dark times—COVID, partner transitions, loneliness—and how they got through it without losing themselves or the culture that made Pelion great.

A New Chapter for Pelion

Blake and Chris aren’t done. Fund 8 is the biggest yet. The team is young, hungry, and deep. The energy is different.

They’re mentoring the next generation of founders and partners. And the torch is getting passed in real time.

“We worked for the first generation. Now we get to back the next.”