Active Utah VCs financing Salt Lake City and Provo companies in 2026

Utah raised $3.1B across 285 deals in 2025. Most capital went to enterprise SaaS and healthcare tech. The ecosystem is concentrated in Salt Lake City and Provo with strong university ties. You won't find many consumer investors here - B2B dominates.

Quick list

Why Utah works for B2B fundraising

Utah closed 285 deals in 2025 with average seed rounds at $2.1M and Series A at $12M. That's lower than SF but higher than most mountain west markets. The state produces more enterprise SaaS per capita than anywhere except the Bay Area.

Salt Lake City and Provo dominate deal flow. Lehi's "Silicon Slopes" corridor has 90+ funded companies within 15 miles. You'll find lower burn rates here - $800K/month runway goes much further than coastal equivalents.

Utah investors strongly prefer profitable business models over growth-at-all-costs. If you're pre-revenue consumer, raise elsewhere. The state has limited late-stage capital above $50M rounds. Plan your Series C in SF or NYC.

Picking the right Utah investor

Local presence: Utah VCs expect founders to be in-state or willing to relocate. Remote companies get funded but at lower valuations. Salt Lake City investors want quarterly in-person board meetings. Provo funds are more flexible but still prefer local teams.

Portfolio companies: Check if they've backed companies in your specific city. Kickstart and Pelion have deep Salt Lake networks. Rev1 and Springboard know Provo better. Cross-city investments happen but relationships matter.

Check sizes: Seed rounds run $500K-$3M. Series A typically $8-15M. Series B hits $20-40M but options narrow significantly. Utah has maybe 5 funds that can lead $50M+ rounds. Most founders leave the state for growth capital.

Local network: Utah investors connect you to Qualtrics, Adobe, and Oracle alumni. The "PayPal mafia" equivalent here is ex-Omniture and ex-Domo folks. BYU and University of Utah networks open enterprise sales doors. LDS church connections matter more than people admit publicly.

Communication: Share your deck with Ellty trackable links. You'll see which Utah investors actually open your financials versus just taking meetings. Most Utah VCs respond within a week if they're interested.

Follow-on capacity: Only a handful of Utah funds have $100M+ to deploy. Pelion, Peterson, and Sorenson can follow through Series C. Everyone else will bring in coastal venture capitals for later rounds. Ask about their typical syndicate partners early.

How to find and approach Utah investors

Research local deals: Check Silicon Slopes' Tech Summit attendee lists and Utah Business magazine's deal coverage. PitchBook shows which funds are actually closing Utah deals versus just talking about it. Most active investors speak at University of Utah's Lassonde Institute events.

Leverage local ecosystem: BoomStartup and Techstars Utah accelerators in Salt Lake City place 60%+ of graduates with local VCs. The Utah Governor's Office of Economic Opportunity tracks funded companies. Join Silicon Slopes organization - their Slack channel is where deals get discussed before they're public.

Build relationships first: Utah investors want 3-5 meetings before term sheets. Plan on 90-120 days from intro to close for seed rounds. Series A takes 4-6 months. That's slower than SF but consistent. Don't expect term sheets from conference booth conversations.

Share your pitch deck: Upload to Ellty and create unique links for each Utah fund. You'll notice Utah investors spend more time on team slides and unit economics than market size. They typically skip vision slides and go straight to your financial model. Track who's actually engaged versus being polite.

Attend local events: Silicon Slopes Tech Summit in January draws every active Utah investor. Skip the small meetups and focus on that one event. University of Utah's Entrepreneur Lecture Series and BYU's RootEd Conference are where deals happen. Pelion and Kickstart scout heavily at both universities.

Connect with portfolio founders: Most Utah VCs will intro you to 2-3 portfolio founders if you ask. Talk to them about follow-on support and actual value-add. You'll learn which funds ghost after investment versus stay engaged. The community is small enough that honest references matter.

Organize due diligence: Set up an Ellty data room before first partner meetings. Utah investors expect clean cap tables and Delaware C-corp structure. Include your customer concentration metrics - they care deeply about revenue from any single customer above 15%. Data room access signals you're serious.

Understand local pace: Utah VCs move faster than East Coast but slower than SF. Seed deals close in 60-90 days with warm intros. Cold outreach adds another 30-60 days. Most funds want to see customer traction, not just product. Expect multiple reference calls with your existing customers before term sheets.

Utah investment preferences

Utah investors fund enterprise SaaS almost exclusively at seed stage. Healthcare tech gets attention if you have clinical partnerships or payer relationships. Fintech works if you're B2B, not consumer. Proptech succeeds here - Entrata proved the model.

Plan on 90-120 day fundraising timelines. Utah VCs want profitability paths within 24 months, not 5 years. Burn $1M+/month pre-Series B and you'll struggle. They prefer capital efficiency over blitz scaling.

Competition is moderate. You're fighting fewer companies for attention than SF, but check sizes are smaller. Out-of-state funds lead 40% of Utah Series A+ rounds. Local investors often take smaller pieces and bring in coastal lead investors for validation.

18 top investors in Utah

1. Pelion Venture Partners

Utah's most active healthcare and enterprise software investor with $650M+ under management.

• Recent Deals: Weave $130M Series D (2024), Recursion Pharma $50M Series C (2024), Health Catalyst growth round (2025)
• LinkedIn: Trent Walker
• Sector Focus: Healthcare IT, Enterprise SaaS, Healthtech, Digital Health
• Stage Focus: Series A, Series B, Series C, Growth
• Office Location: Salt Lake City, Downtown
• Website: pelionvp.com

2. Kickstart Fund

Early-stage fund that backed Divvy, Podium, and 200+ Utah companies since 2008.

• Recent Deals: Aptive Environmental $185M Series C (2024), Neighbor $53M Series B (2023), Homie $23M Series A (2024)
• LinkedIn: Carine Clark
• Sector Focus: SaaS, Fintech, Proptech, Enterprise Software
• Stage Focus: Seed, Series A
• Office Location: Salt Lake City, Sugar House
• Website: kickstart.vc

3. Peterson Partners

Multi-billion dollar investment firm with strong Utah roots and growth-stage focus.

• Recent Deals: Entrata $507M growth round (2024), Skullcandy buyout (2024), Workfront acquisition support (2023)
• LinkedIn: Joel Peterson
• Sector Focus: Proptech, Consumer Tech, Enterprise Software, Business Services
• Stage Focus: Series B, Series C, Growth, Buyout
• Office Location: Salt Lake City, Cottonwood Heights
• Website: petersonpartners.com

4. Album VC

National firm with deep Utah presence, backed Podium and other Silicon Slopes winners.

• Recent Deals: Podium $201M Series D (2024), Pluralsight growth rounds (2023-2024), Divvy follow-on (2023)
• LinkedIn: Anthony Shegerian
• Sector Focus: SaaS, Vertical Software, SMB Tools, Communication Platforms
• Stage Focus: Series A, Series B, Series C
• Office Location: Salt Lake City, Liberty Wells
• Website: album.vc

5. Signal Peak Ventures

Growth equity firm focused on profitable B2B software companies.

• Recent Deals: MX $300M Series C (2024), Lucid Software growth round (2024), Pattern $100M Series C (2025)
• LinkedIn: Ryan Swenson
• Sector Focus: Enterprise SaaS, Fintech, Data Analytics, Developer Tools
• Stage Focus: Series B, Series C, Growth
• Office Location: Salt Lake City, Downtown
• Website: signalpeakvc.com

6. Sorenson Capital

One of Utah's oldest venture firms with multiple unicorn exits in portfolio.

• Recent Deals: Pluralsight pre-acquisition rounds (2023-2024), Domo IPO support (2024), Instructure follow-on (2024)
• LinkedIn: Rob Rueckert
• Sector Focus: EdTech, Enterprise Software, SaaS, Business Intelligence
• Stage Focus: Series A, Series B, Series C, Growth
• Office Location: Salt Lake City, Holladay
• Website: sorensoncapital.com

7. Mercato Partners

Growth-stage investor with pharma-tech expertise and Utah tech focus.

• Recent Deals: Recursion Pharmaceuticals $200M pre-IPO (2024), Extra Space Storage REIT investments (2024), Myriad Genetics follow-on (2025)
• LinkedIn: Scott Choppin
• Sector Focus: Biotech, AI Drug Discovery, Real Estate Tech, Healthcare
• Stage Focus: Series C, Growth, Pre-IPO
• Office Location: Salt Lake City, City Creek
• Website: mercatopartners.com

8. Epic Ventures

Colorado-based but heavily active in Utah with enterprise software focus.

• Recent Deals: Domo growth rounds (2024), Podium Series C (2024), InsideSales follow-on (2023)
• LinkedIn: Chris Domnick
• Sector Focus: Enterprise SaaS, Sales Tech, Marketing Tech, Data Platforms
• Stage Focus: Series A, Series B, Series C
• Office Location: Salt Lake City office, operates from Denver
• Website: epicvc.com

9. Rev1 Ventures

Provo-based fund connected to Utah County's startup ecosystem and BYU.

• Recent Deals: BambooHR Series B (2024), Degreed $153M Series D (2024), Owlet follow-on rounds (2023)
• LinkedIn: Brent Pace
• Sector Focus: HR Tech, EdTech, Enterprise Software, Consumer Hardware
• Stage Focus: Seed, Series A, Series B
• Office Location: Provo, University area
• Website: rev1ventures.com

10. Groove Capital

Fintech specialist that caught Divvy early and invests heavily in payment tech.

• Recent Deals: Divvy Series A-C (2023-2024), Lendio $65M Series C (2024), ChargeAfter $75M Series B (2025)
• LinkedIn: Brian Heywood
• Sector Focus: Fintech, Payment Processing, Lending, Financial Software
• Stage Focus: Series A, Series B
• Office Location: Salt Lake City, Avenues
• Website: groovecapital.com

11. Viewpoint Venture Partners

Utah growth equity firm that backed Qualtrics before the SAP megadeal.

• Recent Deals: Qualtrics pre-acquisition (2023), Vivint Smart Home rounds (2024), Health Catalyst Series D (2024)
• LinkedIn: Brad Moriyama
• Sector Focus: Enterprise Software, IoT, Healthcare IT, Consumer Tech
• Stage Focus: Series B, Series C, Growth
• Office Location: Draper, Point of the Mountain
• Website: viewpointvp.com

12. Springboard Fund

Provo seed fund that backs BYU alumni and Utah County founders.

• Recent Deals: Neighbor $12M Series A (2024), Canopy Tax Series A (2024), multiple BYU spinouts (2025)
• LinkedIn: Clint Betts
• Sector Focus: Enterprise SaaS, Tax Tech, Proptech, Vertical Software
• Stage Focus: Pre-seed, Seed, Early Series A
• Office Location: Provo, Downtown
• Website: springboardfund.com

13. SaaS Venture Partners

National SaaS-only fund with strong Utah deal flow and Pattern investment.

• Recent Deals: Pattern $100M Series C (2025), Weave follow-on (2024), Lendio Series C (2024)
• LinkedIn: David Yuan
• Sector Focus: SaaS, E-commerce Tools, Marketing Tech, Sales Software
• Stage Focus: Series A, Series B
• Office Location: Salt Lake City office (SF-based)
• Website: saasventurepartners.com

14. Stride VC

Vertical SaaS specialist investing in niche B2B software companies.

• Recent Deals: Workfront acquisition support (2023), ServiceTitan Series F (2024), BuildOps $45M Series B (2024)
• LinkedIn: Spencer Tall
• Sector Focus: Vertical SaaS, Field Service, Construction Tech, Service Business Software
• Stage Focus: Seed, Series A
• Office Location: Salt Lake City, Millcreek
• Website: stride.vc

15. Summit Partners

Boston-based growth firm with Salt Lake City office covering mountain west.

• Recent Deals: Lucid Software $500M growth round (2024), Instructure take-private (2024), Domo late-stage (2024)
• LinkedIn: Bruce Evans
• Sector Focus: SaaS, EdTech, Collaboration Tools, Enterprise Software
• Stage Focus: Series C, Growth, Pre-IPO
• Office Location: Salt Lake City, Downtown office
• Website: summitpartners.com

16. Tamarak Ventures

Local seed fund focused on Lehi corridor and Utah County deals.

• Recent Deals: Owlet seed round (2023), multiple Lehi-based SaaS seed rounds (2024-2025)
• LinkedIn: Jason Sumsion
• Sector Focus: Consumer Tech, SaaS, Healthcare Devices, SMB Software
• Stage Focus: Pre-seed, Seed
• Office Location: Lehi, Silicon Slopes
• Website: tamarakventures.com

17. Zions Bank Ventures

Corporate VC arm of Zions Bancorporation backing fintech and Utah companies.

• Recent Deals: Divvy partnership (2024), Lendio relationship (2024), multiple fintech investments (2025)
• LinkedIn: A. Scott Anderson
• Sector Focus: Fintech, Payment Tech, Banking Software, RegTech
• Stage Focus: Series A, Series B, Strategic investments
• Office Location: Salt Lake City, Main Street headquarters
• Website: zionsbancorp.com

18. University Venture Fund

Connected to University of Utah, backs research spinouts and local founders.

• Recent Deals: Multiple U of U spinouts (2024-2025), Recursion Pharma early rounds (2023), Myriad Genetics support (2024)
• LinkedIn: Keith Marmer
• Sector Focus: Biotech, Life Sciences, Medical Devices, Deep Tech
• Stage Focus: Pre-seed, Seed, Series A
• Office Location: Salt Lake City, University of Utah Research Park
• Website: uventurefund.com

Start tracking your Utah investor outreach

These 18 investors closed 200+ Utah deals in 2024-2025. Before you start reaching out to Salt Lake City and Provo funds, set up proper tracking.

Upload your deck to Ellty and create a unique link for each Utah investor. You'll see exactly which slides they view and how long they spend on your financials. Utah-based founders often find local investors skip market size slides but scrutinize unit economics and customer concentration heavily. They want to see gross margin above 70% and CAC payback under 12 months.

When Utah investors ask for more materials, share an Ellty data room instead of messy email threads. Your cap table, financial model, and customer references in one secure place with view analytics. Most Utah VCs expect data rooms organized before partner meetings, not after.

Common questions

Do I need to be based in Utah to raise from Utah investors?

No, but you'll get better terms if you are. Remote companies get funded at 15-20% lower valuations on average. Most Utah VCs want quarterly board meetings in Salt Lake City. If you're willing to relocate, mention it early.

How does Utah compare to SF for fundraising?

Smaller check sizes but faster closes. Average Utah Series A is $12M versus $18M in SF. You'll find more investors who care about profitability than growth rate. Limited late-stage capital - plan your Series C in SF or NYC.

What's the average seed round size in Utah?

$2.1M in 2025. Range is typically $500K-$3M. Pre-seed rounds run $250K-$750K. You won't find many $5M+ seed rounds like in SF unless you have serious traction.

Should I raise locally or go straight to SF/NYC?

Raise locally for seed and Series A if you're B2B SaaS or healthtech. Utah investors move faster and understand the local talent market. Go coastal for Series B+ or if you're consumer-focused. Utah has maybe 5 funds that can lead $50M+ rounds.

Do Utah investors expect in-person meetings?

Yes for first meetings and final partner meetings. Zoom works for early conversations and updates. Plan on flying to Salt Lake City 2-3 times during fundraising. BYU and University of Utah connections often start with campus visits.

What industries get funded most in Utah?

Enterprise SaaS dominates with 60% of deal volume. Healthcare IT takes 20%. Fintech, proptech, and vertical SaaS split the rest. Consumer gets almost no seed funding. Deep tech exists but only around universities.

How long does fundraising take in Utah?

90-120 days for seed with warm intros. Series A runs 4-6 months from first meeting to close. Add 30-60 days if you're cold outreaching. Utah VCs want multiple customer references before term sheets.