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Grow Utah Ventures Sets Up $15 Million Fund for Utah Entrepreneurial Efforts

November 30, 2005View for printing

Continuing its mission to help develop successful businesses along the Wasatch Front and northern Utah, Grow Utah Ventures announced the commitment of a $15 million fund to invest in worthy entrepreneurial projects over the next five years. The funding announcement was made by Grow Utah Ventures visionary, founder and chair Alan E. Hall at the dedication of the new E STATION entrepreneurial business incubator in downtown Ogden on Monday.

The Grow Utah Ventures fund administering investments of Ogden businessman Hall and other minority investors will fill the early-stage funding gap not provided for by traditional venture capital outlets, and amounts to 15 percent of the much-publicized "Fund of Funds" legislation approved by the Utah Legislature.

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