We have created the top 10 Utah Venture Capital (VC) Firms.
As an entrepreneur or startup teams you might think:
- When is financing needed?
- Is it available?
- Do you know where to find funding?
- What funding is needed for my stage of growth?
Salt Lake City, Utah is no Menlo Park. But why would it want to be? If you have visited the Great Salt Lake region you will see its majestic beauty surrounded by the Wasatch mountains. The startup community has been thriving for a long time.
Who saw the world pandemic coming, COVID-19? Were startups prepared? How could you have?
It time for many startups to grow up fast as a WSJ report said. These are hard truths for many startups and small businesses.
Fear and uncertainty rule the day for Q2FY20. Should I have started my business? What if I get sick? Economic insecurity and social isolation. Business owners have stress and anxiety.
If there weren’t enough stress, as you work 70-80 hours a week to get your business off the ground.
For those based in Utah, whether it’s greater Salt Lake City, northern Utah, or Park City they don’t have to worry about traveling far to solve their investment needs.
There are a large number of successful Venture Capitalist (VC) firms in Utah. Most are in Salt Lake City, Utah through entrepreneurs can find a VC or private equity firm in just about every corner of the state.
Quick Facts & Stats about Utah
Population (Source: US Census Bureau, 2017 Population Estimates)
- Salt Lake City: 200,544
- Salt Lake County: 1,135,649
- Wasatch Front: 2,192,225
- State of Utah: 3,101,833
City: 4,330 feet 1,320 meters
Nearby mountains (we love to ski!):
- Snowbird base: 8,100 feet (2,469 meters)
- Hidden Peak (Snowbird Peak): 11,000 feet (3,353 meters)
- Alta base elevation: 8,530ft (2600m)
- Alta Top Elevation: 10,550ft (3,216m)
- Solitude Mountain Resort base elevation: 7,984ft (2,435m)
- Solitude Mountain Resort top elevation: 10,035ft (3,059m)
- Brighton Ski Resort base elevation: 8,755ft (2,669m)
- Brighton Ski Resort top elevation: 10,750ft (3280m)
- Park City base elevation: 6,900ft
- Snowbasin base elevation: 6,391ft
- Lone Peak elevation: 11,260ft (3432m)
The Utah entrepreneurs, investors, and tech organizations Matrix Marketing Group spoke with agreed that it is easier now to recruit talent from outside the state.
The Silicon Slopes of Utah continues to grow driven by support from venture capital community and organizations such as the Utah Technology Council, USTAR, and BioUtah,” stated Rick Miranda, principal at Houlihan Valuation Advisors.
Rick continued, stating that over five years, Utah venture capitalists raised $1.4 billion.
From the end of the great recession in 2009. Venture capital investment in Utah companies has grown by 450 percent, double the national growth rate. The number of deals per year has also more than doubled in the same period.
The Kauffman Foundation ranks Utah as the second-best state for growth entrepreneurship, and Utah has been designated an Innovation Champion by the Consumer Technology Association.
Utah ranks at or near the top in nearly every labor market measurement, with robust employment growth and low unemployment. Utah also has the fastest-growing tech workforce in the nation. These factors combine to ensure that Utah continues to have a very bright economic future.
Utah’s venture capitalists (like any active startup community) receive hundreds of business plans and pitches a month. Angels and venture capitalists have risk tolerances, but it all depends.
We found the investment community typical of most startup communities Matrix Marketing Group works in. There are lots of opportunities to access funding in Utah.
However, access to capital should never be limited to your local area. We live in a connected world, however, Utah had plenty of funding sources for entrepreneurs. But seek synergy with the team and reasonable terms. If not walk.
So let’s review the top venture capital firms in the state of Utah.
Below is a list of the Top 10 Utah Venture Capital Firms.
Salt Lake City, Utah
Since 1994, EPIC has been investing in category-defining technology companies.
EPIC has been investing in technology companies since the internet ran on HTML layout tables and dial-up. Their team and advisors have held executive roles at technology companies, founded startups, and pioneered technologies that support the internet and software programming.
EPIC Ventures is an early-stage software and Internet infrastructure venture firm whose mission is to back entrepreneurs and companies positioned to lead the information economy of tomorrow.
They bring the collective operational and financial experience of our partnership, their advisors, and an extensive network of technology industry contacts to engage and ensure the portfolio’s success.
Salt Lake City, Utah
UVF II provides an unparalleled experiential education for students while delivering the professional governance and investment rigor that sophisticated investors require.
Formed in 2001, the University Venture Fund (UVF) at the University of Utah was the first and largest experiential student venture fund in the U.S. Supported by investors like James Lee Sorenson, Geoff Wolley, and Tim Draper.
The University Venture Fund (UVF) is where leaders of tomorrow help advance leaders of today.
At UVF, top-ranking students come together to run a bona fide investment fund and do what students well research and debate investment deals that make a social impact.
We found that their social channels bounced over to Sorenson Impact, (@Sorenson_Impact). They marshal capital for social good, empower data-driven programs, break down silos across sectors, and equip the next generation of leaders with a social purpose. We love this concept.
Salt Lake City, UT 84121
Pelion is an early-stage venture capital firm bent on exceeding the expectations of entrepreneurs who shoot for the moon. A pursuit made by decades of experience, know-how, and determination.
Pelion works with entrepreneurs to build innovative and disruptive businesses. The team touts their deep technology, investing, and operational expertise to support businesses as they move through each stage of development.
Lehi, UT 84043
Peak Ventures started as an extension of their own experience as tech founders. Many markets, particularly Utah and the Mountain West, have no shortage of innovation and talent.
They have a team of investors that wish had existed when they were raising money. Self-made entrepreneurs who know the struggle, get out from behind their computer and leverage their experience to increase the odds in an industry where more fail than succeed.
They tout local but with intentional alignment outside their locale. The businesses they have built took on a life of their own, in terms of the people they met and geographies they entered.
They are therefore intentional in looking for businesses that expect to raise additional capital, whether or not locally, and businesses that solve big problems, often on a global scale.
Salt Lake City, Utah
The firm, founded by industry veteran Mark Gorenberg, launched in 2013. With offices in San Francisco and Utah, and a worldwide network of partners, entrepreneurs and investors, Zetta Venture Partners is at the forefront of the next huge and long-lasting investment opportunity. Zetta’s first fund is targeting 12 seed and early-stage enterprise investments.
Zetta partners with companies building software that learns from data to analyze, predict and prescribe outcomes. Their sweet spot is funding rounds $1-5M.
No social channels, odd.
Cottonwood Heights, Utah 84121
Mercato is more than just a team of smart investors. Their extended network of advisors, mentors, service providers, and corporate contacts are part of what makes us successful. They are always looking to partner with talented people and organizations.
Mercato invests in growing companies in technology and branded consumer markets. They look for great teams with a product or service to scale, and who want a partner to help them. The portfolio companies represent the leaders and up-and-coming leaders in their markets.
Lehi, UT 84043
Alta Ventures Mexico is an early-stage venture capital fund. Although they have offices in Salt Lake, their primary goal is to help passionate entrepreneurs grow innovative companies in Mexico. They take an active approach to investing in areas where the Alta team and network have domain experience. These areas include the internet, SaaS computing, mobile computing, consumer, security, communications, and health care.
8. 42 Ventures
Salt Lake City, Utah
Partnering with entrepreneurs to grow software-driven businesses that deliver innovative products and services to defined markets.
They focus on software businesses that have strong growth potential, high levels of recurring revenue, and a specific industry focus or domain expertise.
They work with businesses before they reach $5 million in revenue and after its technology, service, and business model have been proven viable and attractive. Typical investment levels range from $250k up to $1.5 million.
Salt Lake City, UT 84121
ARIES investment strategy is to propel companies into their growth curve. The ideal partners have proven profitability, at least $10 million in revenue and earnings of $2 million or higher.
They provide a valuable combination of patient capital, flexible deal structures, in-depth business capabilities and a wealth of experience.
Salt Lake City, UT 84108
Alerion Capital Group is a private equity and management advisory firm. Alerion’s investment philosophy focuses on companies that will benefit most from their experience and knowledge, centering on technology products and service providers.
Alerion Capital Group applies technology domain expertise to private equity investments in later-stage technology and technology-enabled companies. Their mission is to leverage the experience of their people and network and the application of capital to elevate the performance of their portfolio companies.
Portfolio | No social channels
What? You said top 10 Utah venture capital firms. We found another great one we couldn’t leave out.
For over 15 years, and across 200 companies, Peterson Partners has partnered with exceptional entrepreneurs. This experience has confirmed that people are the key differentiator in success. Entrepreneurial leaders differ from other leaders. They’re the people creating the future, the people so determined to get things done that they make magic.
They typically back leadership teams who have the grit and passion to build enduring enterprises that make a difference. They love nothing more than rolling up our sleeves to help great people build great businesses.
Wrap Up on Utah’s Top Venture Capital Firms
The way a startup typically makes money is betting on a market segment that starts small, stated George Schildge, CEO and managing director at Matrix Marketing Group. He continued, And once the startup gets traction with a proven product or service and gains market acceptance it ends up bigger.
George thinks the problem with your typical startup is that they miss the market, poor marketing, or run out of money. So they often turn to Venture Capital money.
But these Venture Capital firms and the capital market often use a model he called a paint-by-number analysis. If it doesn’t fit their model with market size, often in the billions of dollars, they walk away.
Most of the top Utah venture capital firms don’t do that.
Investment capital is the lifeblood for many startups in Utah. There are a lot of sources for funding for Utah startups. For example friends and family, bank loans, small business loans, credit cards, private equity, crowdfunding, Angel funding, and venture capital funding. To name a few. Each one of these funding vehicles has its pros and cons.
So when you’re thinking of getting some cash injection into your startup, be sure to understand what you need it for, your cash burn rate, and a solid business plan.
Check out these top 10 venture capital firms in Utah. And good luck.
We are also pulling a list of Utah private equity firms and other Utah investment firms. Send us your top picks and why @mmgtweets.
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What are the top venture capital firms in Utah?
Luckily for those based in Utah, they don’t have to worry about traveling far to solve their investment needs. There are a large number of successful Venture Capitalist (VC) firms in Utah. ?
Why work with a venture capital firm in Utah?
Venture capital firms can help with funding needs, access to markets, and offer strategic advice.
What does a venture capital firm do?
A venture capital firm is a group of investors who gain income from other investors who want to grow their wealth. They take this money and invest in more risky businesses than a traditional bank is willing to take on, like startups.
What are the types of VC investors?
There are four basic types of investors on any VC firm’s team: pure investors, operators, turned investors, domain experts, and jacks of all trades. Every kind of VC differs in how much experience they have across three key dimensions: investing expertise, operating experience, and domain expertise.