Many factors make Utah a great business startup ecosystem. One is the state's strong commitment to supporting entrepreneurship and small businesses. In addition, the Utah Governor's Office of Economic Development offers a variety of programs and resources to help companies to get started and grow. This includes access to venture capital, mentoring, and business planning assistance.
Utah has a thriving business community with several successful startups and innovative companies. This creates a supportive environment for new businesses to start up and grow. In addition, many accelerators and incubators in the state provide mentorship and resources to help startups succeed.
We also recommend checking out our full list of the top venture capital firms.
Best Venture Capital Firms in Utah
The companies below are funding some of the most innovative and disruptive startups in Utah. They're also the firms that entrepreneurs should keep their eye on if they're looking for investments.
Keep reading to learn what industries they invest in, some of the more notable companies they've funded, and more.
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1. Park City Angels
- Location: Park City, UT
- Industries: Technology, Bioscience
- Stage: Seed Stage
- Notable Portfolio Companies: CommSafe AI, The Artemis Fund, Skill struck, Sigo Seguros, Paleblue, Certus Critical Care, Literal, Joule.
Park City Angels, a group of accredited investors in Park City, Utah, seek to invest in promising opportunities that may lead to significant shareholder returns. Park City's active lifestyle has attracted many successful and dynamic business leaders who have built global enterprises.
A range of valuations from $4 million to $6 million, projected sales of $30 million in five years, and a cash flow break even in the next year or two are of greatest interest to Park City Angels. Utah and adjacent areas are their primary geographic focus, but they will also take into account out-of-state opportunities if they're connected to a member of their team or if they're referred by well-respected current investors.
2. Banyan Ventures
- Location: Holladay, UT
- Industries: Manufacturing, business services, construction, and other industrial sectors
- Stage: Seed Stage
- Notable Portfolio Companies: Restore, DegreeOne, Mobilityre, Cellagain, Kore, Intermountain, Spruce, Graywhale.
Banyan Ventures works with entrepreneurs to create successful business ventures. They assist entrepreneurs in growing early-phase companies into sustainable and worthwhile businesses.
On the other hand, they assist business owners in transferring their legacies as they phase out of company operations. Their approach includes providing the capital required to develop their businesses in addition to providing.
3. DW Healthcare Partners
- Location: Park City, UT
- Industries: Healthcare
- Stage: Seed Stage
- Notable Portfolio Companies: Pentec Health, Bio Agri Mix, Hydrafacial, 360 Behavioral Health, Aequor, Champion, Cefaly.
With over $1.3 billion in assets under management, DW Healthcare Partners manages five investment funds. Pension plans, insurance firms, foundations, fund of funds managers, high net worth family trusts, and endowments are among their investors.
4. Epic Ventures
- Location: Salt Lake City, UT
- Industries: Technology
- Stage: Seed Stage
- Notable Portfolio Companies: Adaptive Computing, Ancestry, Artifact
EPIC Ventures searches for firms with competitive advantages in technology, but first and foremost, they value powerful founders. EPIC Ventures supports internet and software development companies.
They are an early-stage software VC firm that backs entrepreneurs with innovative technology solutions. They typically invest between $500,000 and $2 million.
5. Kickstart Seed Fund
- Location: Cottonwood Heights, UT
- Industries: SaaS, Consumer, Edtech, Hardware, Software, Marketplace, and Healthcare
- Stage: Seed Stage
- Notable Portfolio Companies: Converus, Grain, Grow
Kickstart Seed Fund is an early-stage VC firm that focuses on SaaS, consumer, edtech, hardware, software, marketplace, and healthcare startups for their potential growth. They invest between $250,000 and $1 million initially in Utah, Colorado, and other Mountain West regions.
Kickstart Fund was founded in 2008. They were the first seed fund in Utah and know what it's like to start something before others catch on, so they are eager to lead investments in early but promising teams. As a result, they utilize their experience to help grow your startup and attract top talent and recruit people who are dedicated to moving the whole ecosystem forward.
