Updated:
Yucatan Rock Ventures
Stephen Pearse sold Cyras to Ciena for $2.6B and established Yucatan Rock Ventures as a deep-tech early-stage family office based in San Francisco.
Yucatan Rock Ventures
Founded by brothers Stephen and Robert Pearse in the early 2000s, Yucatan Rock Ventures emerged from the liquidity event that reshaped optical networking: Stephen's prior company, Cyras Systems, developed the K2 switch and was acquired by Ciena just before the telecom bubble burst. The Pearse family office now operates from both San Francisco and a residential property in Saratoga, California, reflecting a low-overhead, principal-driven posture rather than an institutional asset-gathering model. The firm deploys capital primarily through direct seed and Series A investments in telecommunications infrastructure, enterprise software, and applied AI. Public records, including SEC filings from Star Equity Holdings where Robert Pearse serves as an independent director, confirm Yucatan Rock as his primary business affiliation. The office has historically favored deep-tech founders with defensible IP, and it maintains relationships across the Ciena and broader carrier-network alumni ecosystem — a sourcing channel that produces deal flow distinct from the Sand Hill Road auction circuit. Robert Pearse holds governance roles at multiple public companies, extending the firm's reach beyond pure venture into small-cap public equities and corporate boardrooms. The family's philanthropic footprint includes the Hertz Foundation, which funds PhD fellowships in applied sciences, and the Foundation for Energy Security and Innovation, signaling a multi-generational view of capital that blends return-seeking investments with national-security-adjacent R&D funding. The office does not disclose its total deployment, and it has historically avoided the conference-speaking circuit. Yucatan Rock's structure is a study in durable simplicity: two brothers, no external limited partners, no fund lifecycle pressure. This permits a holding period measured in decades rather than fund lifecycles — a genuine structural differentiator in a venture market dominated by ten-year closed-end funds. Succession planning remains opaque, though the family's foundation commitments and Robert's ongoing board service suggest an extended operational horizon beyond the founding generation.
General information
Firm type
Multi Family Office
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
San Francisco
Corporate office
San Francisco, CA, United States
Additional offices
Saratoga, CA, United States
Principals
Stephen G. Pearse
Managing Partner and Co-Founder
Robert G. Pearse
Managing Partner and Co-Founder
Sector focus
Frequently asked questions
Who runs investment decisions at Yucatan Rock Ventures?
Investment decisions are made by the two co-founders, Stephen G. Pearse and Robert G. Pearse. Stephen was the founder and CEO of Cyras Systems, the optical networking startup whose sale to Ciena generated the family's core wealth. Robert serves on the boards of multiple public companies, including Star Equity Holdings. There is no known external investment committee.
How does Yucatan Rock source its deal flow?
The firm's sourcing network is anchored in the telecommunications and optical networking ecosystem that surrounded Cyras Systems and Ciena. This technical alumni network, combined with the Pearse family's relationships in deep-tech and applied-science circles, produces a referral-heavy pipeline that bypasses the traditional venture capital auction process. The firm does not market itself publicly to deal sources.
Does Yucatan Rock participate in fund commitments or only direct deals?
The firm's primary investment activity appears to be direct early-stage equity into private technology companies, based on available public records. The Pearse family's charitable vehicles, including support for the Hertz Foundation and the Foundation for Energy Security and Innovation, represent indirect commitments to translational research, but these are grant-making structures rather than LP fund commitments.
What investment stages does Yucatan Rock typically target?
Yucatan Rock targets seed and Series A rounds, with a stated focus on early-stage and startup companies. The firm's charter permits holding positions well beyond typical venture fund liquidity windows, so early-stage check-writing can extend into later-stage support without the fundraising friction a traditional manager would face.
Where does the underlying wealth come from?
The wealth originated from Stephen Pearse's sale of Cyras Systems to Ciena Corporation. The deal closed in March 2001 and was valued at approximately $2.6 billion in Ciena stock. Cyras had developed high-capacity optical switching equipment for telecommunications carriers, and the acquisition was a landmark deal in the pre-bubble optical networking sector.
Is Yucatan Rock structured as a single family office or does it operate more like a venture firm?
Yucatan Rock operates as the Pearse family's direct investment office, deploying proprietary capital with no external limited partners and no requirement to return capital on a fund-cycle timeline. While its investment activity overlaps with early-stage venture capital, the structure is definitively a family office rather than an institutional venture fund.
Does the firm maintain philanthropic structures, and how are they separated?
The Pearse family is associated with the Hertz Foundation, which funds doctoral fellowships in the applied physical and biological sciences, and the Foundation for Energy Security and Innovation. These are separate legal entities from Yucatan Rock Ventures, though they reflect the family's long-duration view on applied-science capital allocation.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: