A few weeks ago, the Utah Fund of Funds had their annual meeting in Park City. During the presentation, the Fund presented some very compelling statistics regarding the change they have been able to enact.
Of the venture capital and private equity funds the Fund of Funds has invested in (total of $100M invested to date, another $200M approved), they have done the following:
1. Total Capital Raised by the VC/PE Funds in which Utah Fund of Funds invested = $614M
2. Total Capital Invested into Utah by these Portfolio Firms = $165M
3. Number of Potential Companies Reviewed by Firms = 978
4. Number of Days Spent in Utah by Non-Utah Based Firms = 775
5. Average Payroll/Person for Companies that have Received Invesmtent = $64K
At Highway 12 Ventures, we’re big fans of what’s going on in Utah. There’s an incredible ecosystem of support for start-ups from the government, university, entrepreneurial community. The Utah Fund of Funds is integral to this ecosystem and have made a significant contribution to the ongoing success in the State. We hope other states continue to benchmark themselves against what Utah has created, and specifically, what the Utah Fund of Funds has done to accelerate this progress.
Tags: Utah, Venture Capital