Initial Utah Fund of Funds Results Overwhelm Early Champions Expectations

January 23, 2008

On the eve of the 2008 Utah Legislative session, early champions of the Utah Fund of Funds http://www.utahfundoffunds.com/ (Utah FoF) expressed enthusiasm for the program’s achievements and confidence in its future. They also encouraged members of the Utah Legislature to further and accelerate the economic development the program is creating for the state’s entrepreneurial economy by expanding the Utah FoF in the upcoming legislative session.

“Coming out of the gate, entrepreneurs had high expectations for the Utah Fund of Funds,” said Control4 chief executive Will West, a prominent Utah entrepreneur who has successfully raised hundreds of millions of venture capital dollars for the companies he has founded. “The program’s performance to date exceeds even those lofty expectations.”

Utah Fund of Funds portfolio firms had invested $127 million in 25 Utah companies

In total, Utah FoF portfolio firms helped these Utah companies raise $365 million

These 25 companies have created a total of 1,006 jobs, with an annual average salary of $60,000 – far above the Utah average wage

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