Venture capital in Utah
43 venture firms are based in Utah, from SEC filings and the fund index. Below them are Utah’s other sources of capital, the LPs based here that report holding venture funds, and its SEC-registered family offices. How Utah ranks for startup raises and new funds: its Venture Ecosystem Index page.
On this page: 43 venture firms 4 new funds 36 other sources of capital 16 LPs.
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Venture firms based in Utah
2 firms in the Venture Capital Fund Index, by latest fund, then 41 advisers that report a venture fund on Form ADV, largest estimated venture assets first, from the Venture Adviser Directory. Each one’s page has its funds and, where an LP reports holding them, its LPs.
| # | Firm | Headquarters | Latest fund | Fund size | AUM |
|---|---|---|---|---|---|
| 1 | Pelion Venture PartnersPelion, Pelion Ventures, Utah Ventures | Salt Lake City | Pelion Ventures VIII (Fund 8) | $500M | — |
| 2 | Run VenturesSignal Peak Ventures, SPV | Salt Lake City | Signal Peak Ventures IV-A | $21M | — |
| # | Adviser | Location | Venture funds | Private fund assets | Registered |
|---|---|---|---|---|---|
| 1 | Cross Creek Advisors, LLC | Salt Lake City | 16 | $1.3B | 2012 |
| 2 | Mercato Management Legacy, LLC | Salt Lake City | 6 | $990M | 2025 |
| 3 | Album Ventures, LLC | Lehi | 10 | $963M | 2019 |
| 4 | Halo Experience CompanyHalo Experience Company L.L.C. | Provo | 1 | $938M | 2025 |
| 5 | DN Capital (US), Inc | Park City | 11 | $866M | 2012 |
| 6 | Retv Management, LLC | Park City | 12 | $813M | 2018 |
| 7 | West Rim II Ugp, LLC | Lehi | 9 | $1.8B | 2026 |
| 8 | West Rim Capital Associates II, L.P. | Lehi | 9 | $1.7B | 2007 |
| 9 | Kickstart Capital, LLC | Cottonwood Heights | 8 | $648M | 2013 |
| 10 | Mercato Savory Management, LLC | Draper | 4 | $364M | 2025 |
| 11 | Cynosure Group, LLCThe Cynosure Group | Salt Lake City | 6 | $3.5B | 2015 |
| 12 | Wasatch Equity PartnersWasatch Venture Management, LLC | Logan | 22 | $337M | 2025 |
| 13 | Wasatch Management Partners, L.L.C. | Salt Lake City | 7 | $277M | 2012 |
| 14 | Oakhouse Partners, LLC Emerging | Park City | 9 | $191M | 2017 |
| 15 | Peterson PartnersPeterson Partners, LLC | Salt Lake City | 2 | $2.3B | 2012 |
| 16 | Swell Collective Management EmergingSwell Collective Management, LLC | Lehi | 3 | $160M | 2023 |
| 17 | Alta Ventures Mexico Management (GP), L.P. Emerging | South Jordan | 1 | $144M | 2012 |
| 18 | Frazier Group Management, LLC Emerging | Lehi | 3 | $110M | 2024 |
| 19 | Velvet Ventures, LLC Emerging | Salt Lake City | 3 | $109M | 2026 |
| 20 | Wasatch Investment Fund Manager, LLC | Logan | 2 | $255M | 2025 |
| 21 | Tandem Partners Group, LLC Emerging | Lehi | 13 | $108M | 2024 |
| 22 | Longship Capital Management, LLC Emerging | Sandy | 1 | $92M | 2023 |
| 23 | Juvo Ventures, LLC Emerging | Salt Lake City | 2 | $82M | 2026 |
| 24 | Drawdown Fund EmergingTiger Grass Capital LP | Park City | 8 | $71M | 2023 |
| 25 | 2.0 Ventures Adviser LLC Emerging | Lehi | 1 | $64M | 2025 |
| 26 | Savory Capital LLC Emerging | Draper | 4 | $63M | 2025 |
| 27 | Aurelius Ventures EmergingAurelius Ventures, LLC | Salt Lake City | 3 | $57M | 2023 |
| 28 | Adams Wealth Advisors EmergingAdams Wealth Management LLC | Logan | 9 | $75M | 2017 |
| 29 | Frame VC LLC Emerging | Salt Lake City | 4 | $56M | 2023 |
| 30 | Athos Private Wealth LLC Emerging | Holladay | 21 | $77M | 2023 |
| 31 | Valkyrie Ventures Management, LLC Emerging | Park City | 1 | $45M | 2025 |
| 32 | Sepio Capital, LP | Salt Lake City | 1 | $368M | 2017 |
| 33 | Royal Street Ventures Management Company, LLC Emerging | Park City | 3 | $31M | 2019 |
| 34 | El Cap Holdings Capital Partners, LLC Emerging | Salt Lake City | 8 | $29M | 2024 |
| 35 | Tbl-Vv, LLC Emerging | Salt Lake | 1 | $27M | 2026 |
| 36 | Crewe Advisors EmergingCrewe Advisors LLC | Salt Lake City | 1 | $22M | 2015 |
| 37 | Cherokee & Walker Management EmergingCherokee & Walker Management, LLC | Salt Lake City | 1 | $86M | 2018 |
| 38 | Belief, LLC Emerging | Park City | 3 | $38M | 2023 |
| 39 | Cottonwood Wealth Strategies, LLC EmergingCottonwood Capital Advisors, LLC | Salt Lake City | 4 | $9M | 2020 |
| 40 | Blue Diamond Capital Investment Advisors EmergingBlue Diamond Capital Investment Advisors, LLC | Provo | 1 | $81M | 2025 |
| 41 | Mercato Partners EmergingMercato Management, LLC | Salt Lake City | 3 | $3.9M | 2023 |
New funds raising from Utah
4 venture funds managed from Utah started raising in 2025 or later and filed a Form D since October 2025: managers with new money to invest. Amounts are as each fund’s latest Form D reports them, newest filing first.
| Fund | Manager | Started | Raised so far | Target | Latest filing |
|---|---|---|---|---|---|
| Album Ventures V, L.P. | Album Ventures, LLC | 2026 | — | $150M | June 24, 2026 |
| Tandem Ventures Fund II, LP | Tandem Partners Group, LLC | 2026 | — | — | May 4, 2026 |
| Kickstart Seed Fund VII, L.P. | Kickstart Capital, LLC | 2026 | — | — | April 23, 2026 |
| TBL-VV AI Robotics Fund I, LP | Tbl-Vv, LLC | 2026 | $27M | $27M | January 20, 2026 |
Other sources of capital in Utah
15 SBA lenders, 10 SBICs, 4 community development lenders, 3 corporate pension plans, 1 angel group, 1 sovereign wealth fund, 1 placement agent, and 1 union pension plan. From public registers and what each organization publishes; see Capital Sources for every state.
| Source | Location | On the record |
|---|---|---|
| Park City Angels | Park City | Group of accredited investors in Park City, Utah, that has made more than 1,200 individual investments in startups since 2008. |
| Utah School and Institutional Trust Funds Office | Salt Lake City | $4.21B in assets |
| Crewe Capital, LLC | Salt Lake City | 7 venture funds, 2016–2019 |
| Deseret Mutual Master Retirement Plan | Salt Lake City | In partnerships and joint ventures: $2.2B |
| Intermountain Healthcare Pension Plan | Salt Lake City | In partnerships and joint ventures: $778M |
| Rio Tinto America Inc. Retirement Plan | South Jordan | In partnerships and joint ventures: $105M |
| Dauntless Ventures SBIC-A, L.P. | Provo | Venture |
| Dauntless Ventures SBIC-B, L.P. | Provo | Venture |
| EPIC Venture Fund IV, LLC | Salt Lake City | Venture |
| Pelion Ventures V Financial Institutions Fund, L.P. | Salt Lake City | Venture |
| Pelion Ventures VII Financial Institutions Fund, L.P. | Salt Lake City | Venture |
| Pelion Ventures VIII Financial Institutions Fund L.P. | Salt Lake City | Private Equity · Venture |
| Signal Peak Ventures IV-A, L.P. | Salt Lake City | Venture · Early Venture |
| Wasatch Venture Fund II, LLC | Salt Lake City | Venture |
| Wasatch Venture Fund III, L.L.C. | Salt Lake City | Venture |
| Zions SBIC, L.L.C. | Salt Lake City | Hybrid · Hybrid Debt/Equity |
| Intermountain Ironworkers Pension Trust | Salt Lake City | In partnerships and joint ventures: $47M |
| Community Development Fund of Utah | Salt Lake City | Community development loan fund in Salt Lake City, UT, certified by the US Treasury’s CDFI Fund. |
| Rocky Mountain Community Reinvestment Corporation | Salt Lake City | Community development loan fund in Salt Lake City, UT, certified by the US Treasury’s CDFI Fund. |
| Suazo Business Center | Salt Lake City | Community development loan fund in Salt Lake City, UT, certified by the US Treasury’s CDFI Fund. |
| Utah Microenterprise Loan Fund (UMLF) | Salt Lake City | Community development loan fund in Salt Lake City, UT, certified by the US Treasury’s CDFI Fund. |
| Accordia Bank | Provo | 7(a) loans approved, fiscal year 2026: $49M |
| America First Federal Credit Union | Riverdale | 7(a) loans approved, fiscal year 2026: $121M |
| Bank of Utah | Ogden | 7(a) loans approved, fiscal year 2026: $35M |
| Cache Valley Bank | Logan | 7(a) loans approved, fiscal year 2026: $12M |
| Canyon View Federal Credit Union | Salt Lake City | 7(a) loans approved, fiscal year 2026: $6.8M |
| Celtic Bank Corporation | Salt Lake City | 7(a) loans approved, fiscal year 2026: $539M |
| Central Bank | Provo | 7(a) loans approved, fiscal year 2026: $30M |
| FinWise Bank | Murray | 7(a) loans approved, fiscal year 2026: $64M |
| First Utah Bank | Salt Lake City | 7(a) loans approved, fiscal year 2026: $26M |
| Happen Bank | Lehi | 7(a) loans approved, fiscal year 2026: $85M |
| Milestone Bank | Salt Lake City | 7(a) loans approved, fiscal year 2026: $133M |
| Mountain America FCU | Sandy | 7(a) loans approved, fiscal year 2026: $53M |
| Redemption Bank | Salt Lake City | 7(a) loans approved, fiscal year 2026: $10M |
| Sunwest Bank | Sandy | 7(a) loans approved, fiscal year 2026: $12M |
| Zions Bancorporation, National Association | Salt Lake City | 7(a) loans approved, fiscal year 2026: $319M |
LPs based in Utah
Foundations, pension plans, and other LPs here that report the venture funds they hold, by the number they hold. Local LPs often back local managers.
| # | LP | Location | Venture funds | In venture funds | Total assets |
|---|---|---|---|---|---|
| 1 | Deseret Mutual Master Retirement Plan | Salt Lake City | 57 | $594M | $7.1B |
| 2 | Larry H Miller and Gail Miller Family Foundation | Sandy | 21 | $70M | $774M |
| 3 | James Lee Sorenson Family Foundation | Salt Lake City | 5 | $2.2M | $65M |
| 4 | SJ and Jessie E Quinney Foundation | Salt Lake City | 4 | $10M | $92M |
| 5 | The Jacquelyn & Gregory Zehner Foundation | Park City | 4 | $2.2M | $25M |
| 6 | Jerry and Kathleen Grundhofer Foundation | Park City | 4 | $1.7M | $31M |
| 7 | George S and Dolores Dore Eccles Foundation | Salt Lake City | 3 | $17M | $745M |
| 8 | Janet Q Lawson Foundation | Salt Lake City | 3 | $5.7M | $70M |
| 9 | Frederick Q Lawson Foundation | Salt Lake City | 2 | $559K | $23M |
| 10 | Florence J Gillmor Foundation | Salt Lake City | 1 | $4.2M | $91M |
| 11 | The Ennoble Foundation | West Jordan | 1 | $2.4M | $60M |
| 12 | Call to Action Foundation | Salt Lake City | 1 | $560K | $665M |
| 13 | Marriner S Eccles Foundation | Salt Lake City | 1 | $360K | $59M |
| 14 | Emma Eccles Jones Foundation | Salt Lake City | 1 | $359K | $149M |
| 15 | The Call Foundation | Salt Lake City | 1 | $140K | $83M |
| 16 | The Miner Foundation | St George | 1 | $24K | $11M |
About the data
An adviser’s state is where its Form ADV says its main office is. A fund-index firm is placed by the headquarters city the index lists, or by its Form ADV when the city doesn’t tell. Capital sources, LPs, and family offices are placed by the address their own register gives. Angel investors who list themselves are at hottub.vc/investors. Organizations only: no individuals are listed here, and a listing is a public record, not a recommendation. See the methodology.