Utah Fund of Funds

OVERVIEW

The Utah Fund of Funds (UFOF) is a major economic development program created by the Utah Legislature to provide the state’s entrepreneurs with access to a broad array of quality funding sources With a charter of $300 million approved by the Utah State Legislature, the fund invests in quality venture capital/private equity funds, which in turn explore investments in promising Utah entrepreneurial growth companies

As of July 2011, more than 700 funds have applied to the program, from which 28 high-quality venture capital/private equity firms had been selected as portfolio firms, including seven from Utah Partners at out-of-state firms commit to spend a predetermined number of days in Utah, helping the fund build a strong network of Utah business leaders, entrepreneurs and companies

The UFOF also conducts a number of economic development training and networking events including the annual Utah Fund of Funds Medical Device Symposium and the Annual Utah Fund of Funds Middle Market Symposium The Medical Device symposium, presented each spring, attracts world-class investors, innovators, physicians and students The panels focus on fundraising This year, the UFOF partnered with Stoel Rives, USTAR and GOED for the event which was held at the Marriott City Center Attendance was great and feedback positive for the third year in a row Participants appreciated the realistic and pertinent information provided by the world-class presenters

The Utah Fund of Funds is governed by a private and public board Both boards have added new members this year and the Utah Fund of Funds is pleased to welcome the new members to the Utah Capital Investment Corporation, including Mel Lavitt, and Ed Esber and a new member to the Utah Capital Investment board, Taylor Randall

SUCCESSES

The Utah Fund of Funds won the prestigious Best of State Award in the Public Economic Development Management — Community Development category for the third year in a row

The Utah Fund of Funds is pleased to detail this year’s progress numbers As of Q2 2011, 42 companies have received funding from Utah Fund of Funds portfolio funds totaling $277 million

Syndicated funds to Utah companies hit $1 3 billion Jobs supported from these investments number 4,112 and new jobs created from these investments are 1,154 at an average salary of $72,311

For additional information about the Utah Fund of Funds visit business.utah.gov or contact Matt Peterson, Vice President, at matt@utahfof.com or 801-931-4557