Utah Fund of Funds Wants More $$

None by Eric Ray

(KCPW News) The Utah Fund of Funds is asking lawmakers to triple the state's investment in the program, to a total of $300 million, through Senate Bill 11.

The Fund of Funds invests in venture capital firms that commit to spending time in the state and meeting with Utah startup companies. Since the program started in early 2006, 25 Utah companies have been funded and more than 1,000 jobs created. While venture capitalists aren't required to invest in Utah companies, 63% of out of state venture capitalists have either invested or tried to invest in a Utah company.

The program's request awaits final approval by the Senate before it goes to the desk of the Governor. To listen to a conversation about the Utah Fund of Funds program, click here.

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