Kickstart, the Utah-based most active venture capital firm in the Mountain West has closed an oversubscribed Fund V of $110 million which is its largest funding round to date. The platform aims to use the fund in order to back entrepreneurs launching the iconic companies and leading employers of the future.
According to Kickstart, it has invested in over 100 companies and has seen 20 exits since founded in 2008, when Utah was far from known as a technology hub. Now, the firm intends to actively invest through the current pandemic crisis to support the brave entrepreneurs who gather strength from adversity and provide leadership through uncertain times.
Dalton Wright, one of the Partners at Kickstart states, “We’re honored to have such great investors who entrust us with capital to be the financial catalyst for so many entrepreneurs and startup founders in Utah and the Mountain West. Seed investing is the ultimate long-term game and we have absolutely no doubt that this region will continue to produce some of the fastest growing companies in the world now and for generations ahead. We’re excited to dedicate this fund to the entrepreneurs who will make this a reality.”
Curt Roberts, another Partner at Kickstart explains, “The last few months have been crazy with the havoc this global pandemic has had on our economy, employment and overall ability to lead normal lives, but we know that we will get through this. Our fund started in an economic recession and we know what it takes to be successful and thrive despite a weakened economy. We’re committed to using this fund to kick-start the economy through investing and sharing other resources to help support businesses in Utah and the Mountain West.”