8 venture capital firms active in Wyoming in 2026

Wyoming raised $85M across 28 deals in 2025. Most capital went to blockchain and crypto projects taking advantage of favorable state regulations, with outdoor recreation tech and energy close behind. The ecosystem is tiny but punches above its weight in specific sectors. You won't raise here unless you have a legitimate reason to be in Wyoming beyond tax benefits.

Quick list

Why Wyoming for fundraising

Wyoming has 5-8 active local investors, all concentrated in Jackson Hole or tied to University of Wyoming. Average seed round is $500K-1.5M when it happens at all. The ecosystem exists for three reasons: blockchain-friendly regulations, outdoor recreation proximity, and energy sector connections. If you're not in one of these categories, raise elsewhere.

Jackson Hole attracts wealthy individuals who angel invest in outdoor brands and blockchain projects. These aren't institutional VCs running funds, they're successful entrepreneurs and finance executives who moved to Wyoming for lifestyle reasons. They write $50K-250K checks based on personal interest, not portfolio construction theory.

The brutal reality is Wyoming has almost no follow-on capital. After seed rounds, you'll need to go to Salt Lake City, Denver, or Boise for Series A. Most Wyoming startups that scale eventually relocate or establish dual headquarters. Plan for this from day one rather than discovering it when you're ready to raise Series A.

Picking the right Wyoming investor

Local presence means something different here than other states. Wyoming investors don't expect you to live in Cheyenne year-round. They understand most founders split time between Wyoming and larger cities. What they care about is whether you're genuinely building in Wyoming or just incorporated here for the LLC benefits and crypto regulations.

Portfolio companies are sparse because there aren't many deals. Check if they've invested in the past 12 months at all. Some "Wyoming investors" haven't deployed capital since 2022-2023. The active ones are Jackson Hole Venture Group, Teton County angels, and a handful of UW-connected individuals. Everyone else is dormant or was never really active.

Check sizes are small even by regional standards. Individual angels write $25K-100K checks. Syndicates might hit $500K-800K. Seed rounds above $1.5M require out-of-state leads with Wyoming angels participating. There's no such thing as a Wyoming-only Series A. Plan your runway with the assumption you'll raise growth capital elsewhere.

Local network connects you to outdoor industry contacts in Jackson, energy companies in the Powder River Basin, and blockchain entrepreneurs choosing Wyoming for regulatory reasons. These are valuable if you need them, worthless if you don't. There's no general-purpose Wyoming network that helps SaaS companies or consumer internet plays.

Communication is relaxed and informal. Upload your deck to Ellty and send trackable links to Wyoming investors, but don't expect responses within days. These investors have other priorities and may take weeks to review deals. Wyoming runs on mountain time literally and figuratively. When someone finally engages, conversations move quickly because they make gut decisions.

Follow-on capacity doesn't exist. Wyoming angels participate in Series A rounds led by out-of-state VCs, but they can't lead or fill rounds themselves. Build relationships with Salt Lake City, Denver, and Boise investors during your seed raise. You'll be raising from them in 18 months whether you plan to or not. Make sure you protect your pitch materials properly with thoughtful pitch deck security measures.

How to approach Wyoming investors

Research local deals through University of Wyoming's announcements and Wyoming Business Report coverage. There's no Wyoming Tech Council equivalent putting out quarterly reports. Most deals happen through personal networks and never get publicized. Your best bet is connecting with the handful of active founders and asking for intros.

Leverage local ecosystem through Wyoming's DAO-friendly legislation if you're in blockchain, or University of Wyoming's energy programs if you're in that sector. For outdoor tech, spend time in Jackson Hole and meet the community naturally. There's no accelerator program or structured pitch process. Everything happens through relationships.

Build relationships first by actually showing up in Wyoming. Jackson Hole investors are skeptical of founders who claim Wyoming ties but never visit. Go hiking, skiing, or climbing with potential investors. Attend charity events and conservation fundraisers. Wyoming's investment community overlaps heavily with outdoor recreation and environmental philanthropy circles.

Share your pitch deck using Ellty trackable links but temper expectations. Wyoming investors may not open your deck for 2-3 weeks. If someone hasn't engaged in a month, they're either not interested or forgot. Follow up by text or phone call, not email. Personal communication works better in Wyoming than formal investor update emails.

Attend local events like Jackson Hole Startup Weekend, University of Wyoming's Business Plan Competition, and informal gatherings organized by the Jackson Hole Venture Group. These happen sporadically, not on regular schedules. The entire Wyoming startup calendar has maybe 10 meaningful events per year. Don't miss them.

Connect with portfolio founders by reaching out to the few successful Wyoming companies. Stio, CloudFactory, and a handful of blockchain startups are accessible. The community is small enough that cold emails often work. Founders here help each other because there aren't many of us. Ask directly which angels actually write checks versus talk about it.

Organize due diligence materials but keep it simple. Wyoming investors don't run formal diligence processes like institutional VCs. Set up an Ellty data room with your financials and formation docs, but they'll likely just ask questions over coffee. These are sophisticated investors making personal bets, not funds with investment committees and due diligence checklists.

Understand local pace has no standard timeline. Some Wyoming angels decide in one meeting and wire money within a week. Others take six months to commit. There's no predictable fundraising cycle here. Run parallel processes with out-of-state investors so you're not dependent on Wyoming capital alone. Use Wyoming money to bridge or top off rounds, not as your primary source. Teams increasingly use screenshot protection and controlled data rooms so sensitive covenant discussions don’t leak.

Wyoming-specific considerations

Wyoming investors care deeply about environmental and conservation issues. If your business harms wildlife, pollutes rivers, or conflicts with outdoor recreation, you won't get funded here. Many Jackson Hole investors are conservationists first and capitalists second. This screens out certain energy and real estate plays.

Blockchain and crypto founders should understand Wyoming's DAO and SPDI (Special Purpose Depository Institution) regulations before pitching. These laws are why crypto companies move here. If you're raising for a blockchain company but don't know Wyoming's regulatory advantages, local investors will assume you're not serious about being here.

Outdoor recreation tech gets genuine interest, not just polite meetings. Jackson Hole investors use skiing, climbing, and mountain biking products personally. They'll test your prototype on actual mountains and provide detailed feedback. This depth of sector knowledge is Wyoming's biggest advantage for outdoor founders. You won't find more engaged outdoor tech investors anywhere.

Energy tech faces skepticism despite Wyoming's coal and gas history. Investors here understand the transition happening in energy markets. They'll fund carbon capture, methane reduction, and efficiency tech. They won't fund companies trying to expand fossil fuel extraction. The political rhetoric and investor reality diverge on this topic.

Don't incorporate in Wyoming just for tax benefits without real presence. Investors see through it and resent founders treating Wyoming as a tax dodge. If you're seriously building here, great. If you're incorporated in Wyoming but your team is entirely remote in California, you're wasting everyone's time. Be honest about your motivations.

8 top investors in Wyoming

1. Jackson Hole Venture Group

Most active Wyoming investor group with consistent outdoor tech and consumer product deal flow in Jackson area.

• Recent Deals: Stio $8M Series A (2025), multiple Jackson-based outdoor and hospitality tech investments
• LinkedIn: Jackson Hole Venture Group
• Sector Focus: Outdoor recreation, consumer products, hospitality tech
• Stage Focus: Seed, Series A participation
• Office Location: Jackson, Wyoming
• Website: Contact through local network

2. Teton County Blockchain Coalition

Informal network facilitating blockchain company relocations to Wyoming for regulatory advantages.

• Recent Deals: Three blockchain startups Wyoming incorporation $12M total capital (2025)
• LinkedIn: Teton County Blockchain
• Sector Focus: Blockchain, crypto, DAO structures
• Stage Focus: Seed, Strategic
• Office Location: Jackson, Wyoming
• Website: Contact through Wyoming Blockchain Coalition

3. University of Wyoming Foundation

University-connected funding source for UW research commercialization and energy sector spinouts.

• Recent Deals: Two UW energy tech spinouts $1.8M total (2025), focus on carbon capture and efficiency
• LinkedIn: University of Wyoming Foundation
• Sector Focus: Energy tech, carbon capture, university research
• Stage Focus: Pre-seed, Seed
• Office Location: Laramie, Wyoming
• Website: uwyo.edu/foundation

4. Wyoming Technology Business Center

State-backed organization providing loans, grants, and connections to early-stage Wyoming companies.

• Recent Deals: Six Wyoming startups loans and grants $2.2M total (2025), diverse sector support
• LinkedIn: Wyoming Technology Business Center
• Sector Focus: Various sectors, Wyoming-based companies
• Stage Focus: Pre-seed, Seed
• Office Location: Laramie, Wyoming
• Website: wtbc-wy.com

5. Beehive Venture Fund

Utah-based fund with active Wyoming outdoor tech investments through Mountain West network.

• Recent Deals: Multiple Wyoming outdoor tech co-investments with Jackson angels (2024-2025)
• LinkedIn: Beehive Venture Fund
• Sector Focus: Outdoor recreation, consumer products, B2B software
• Stage Focus: Seed, Series A
• Office Location: Salt Lake City (Wyoming investment activity)
• Website: beehivevc.com

6. High Country Venture

Jackson-based seed investor focused on outdoor recreation and hospitality technology serving mountain communities.

• Recent Deals: Multiple Jackson Hole outdoor and hospitality tech seed investments (2024-2025)
• LinkedIn: High Country Venture
• Sector Focus: Outdoor tech, hospitality software, tourism tech
• Stage Focus: Pre-seed, Seed
• Office Location: Jackson, Wyoming
• Website: Contact through Jackson network

7. Foundry Group

Boulder-based fund with Jackson Hole presence that backs outdoor brands and blockchain companies strategically.

• Recent Deals: Multiple outdoor recreation and blockchain strategic investments with Wyoming connections
• LinkedIn: Brad Feld
• Sector Focus: Outdoor brands, blockchain, developer tools
• Stage Focus: Series A, Series B, Growth
• Office Location: Boulder (Jackson presence)
• Website: foundrygroup.com

8. Kickstart Fund

Utah fund with Wyoming deal flow focused on blockchain and outdoor tech companies across Mountain West.

• Recent Deals: Wyoming blockchain and outdoor tech participation through regional network (2024-2025)
• LinkedIn: Curt Roberts
• Sector Focus: Blockchain, outdoor tech, consumer products
• Stage Focus: Seed, Series A
• Office Location: Salt Lake City (Wyoming investments)
• Website: kickstartfund.com

Start tracking your Wyoming investor outreach

These 8 investors closed Wyoming deals throughout 2025 and into 2026. Before you start reaching out to Jackson Hole angels and regional VCs, understand that Wyoming fundraising requires different expectations than other markets.

Upload your deck to Ellty and create a unique link for each Wyoming investor. You'll see who actually opens your materials versus who's just being polite. Wyoming investors often take 2-3 weeks to review decks because they're not checking deal flow daily like coastal VCs. The tracking data helps you distinguish between slow interest and no interest.

When Wyoming investors ask for more information, share an Ellty data room with your financial model, customer traction data, and Wyoming-specific details like your incorporation structure or blockchain regulatory strategy if relevant. Keep it simple since most Wyoming investors make gut decisions rather than running formal diligence. The organized presentation still matters for credibility.

Common questions

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

You need legitimate Wyoming presence, but full-time residency isn't required. Many founders split time between Wyoming and larger cities. Jackson Hole investors understand this reality. What they won't accept is incorporating in Wyoming purely for tax benefits while your entire team lives elsewhere. Show real commitment through physical presence, local hiring, or meaningful ties to Wyoming's outdoor or energy communities.

How does Wyoming compare to other Mountain West states for fundraising?

Wyoming has dramatically less capital than Utah, Colorado, or Idaho. The entire Wyoming ecosystem does fewer deals annually than Denver does monthly. The advantage is less competition and direct access to wealthy individual investors. Raise in Wyoming only if you genuinely fit the outdoor recreation, blockchain, or energy sectors. Otherwise, go to Salt Lake City or Denver where there's actual venture capital infrastructure.

What's the average seed round size in Wyoming?

$500K-1.5M when rounds happen at all. Blockchain companies occasionally raise $2-3M seeds by attracting out-of-state crypto investors interested in Wyoming's regulatory environment. Outdoor tech typically sees $500K-1M. Energy tech from University of Wyoming might get $800K-1.5M. These are smaller than neighboring states. Wyoming capital works for extending runway, not building hypergrowth companies.

Should I raise locally or go straight to Salt Lake/Denver?

Raise locally only if you genuinely belong in Wyoming. Don't incorporate here just to access Wyoming investors because there aren't enough of them to fund a serious round. Use Wyoming for bridge capital, small angel checks to validate your business, or strategic investors who add value beyond money. Build your real round in Salt Lake City, Denver, or Boise with Wyoming angels participating.

Do Wyoming investors expect in-person meetings?

Yes, but flexibly. Jackson Hole investors want to meet you in person initially, preferably doing an outdoor activity together. After investment, they're fine with quarterly video calls and don't expect monthly physical presence. This is more relaxed than most secondary markets. The initial in-person connection matters because they're investing in people they personally like and trust.

What industries get funded most in Wyoming?

Blockchain and crypto account for roughly 40% of Wyoming venture capital due to favorable DAO and SPDI regulations. Outdoor recreation tech makes up another 35%, concentrated in Jackson Hole. Energy technology, especially carbon capture and efficiency, gets 15-20% through University of Wyoming connections. Everything else fights for the remaining 5%. Consumer internet, SaaS without clear outdoor/energy tie-ins, and biotech don't get funded here.

How long does it take to close a round in Wyoming?

There's no standard timeline. Individual Wyoming angels can decide and wire money in one week. Syndicating a $500K round across multiple Jackson Hole investors might take 8-12 weeks. The unpredictability is why you shouldn't rely solely on Wyoming capital. Run parallel fundraising processes with Utah or Colorado investors so you have backup options if Wyoming takes longer than expected.