The Most Active Seed Investor in Utah Celebrates Its Largest Fund to Date; New Milestone for the Booming Utah Tech Ecosystem
Successful Ventures Include Artemis, Chatbooks, Havenly, Lucid Software, Nav, Pebblepost and Stance
SALT LAKE CITY, Jan. 17, 2018 (GLOBE NEWSWIRE) -- Kickstart Seed Fund announced today the close of Fund IV (“K4”) at $74M, which represents a substantial growth in capital over all its predecessor funds. The large increase in the fund size compared to the previous fund ($39M) was driven by the addition of several institutional investors, as well as notable Utah entrepreneurs, Aaron Skonnard of Pluralsight, Jeremy Andrus of Traeger Grills, Ryan Smith of Qualtrics, among others.
K4 continues Kickstart’s primary objective: to make meaningful seed- and early-stage investments in startups and elite entrepreneurs based in the Mountain West.
“Our fourth fund is an important milestone for Kickstart, and is proof that Utah’s tech ecosystem is headed toward bigger things,” said Gavin Christensen, managing partner at Kickstart Seed Fund. “As the first seed fund to launch in Utah, I am proud that Kickstart has become a trusted partner for entrepreneurs, institutional investors, venture capitalists, and talented professionals looking to join startups.”
Since the firm’s inception in 2008, Kickstart Seed Fund has managed $148M of capital commitments, investing in more than 100 companies. The fund is recognized as the most active seed investor in Utah.
"Entrepreneurs in Utah are fortunate to have access to a fund like Kickstart,” Andrus said. “They not only have the ability to attract and scale seed-stage venture companies, but the firm has also become a platform for knowledge, relationships, and community."
In addition to the close of K4, Kickstart also announced the promotion of Alex Soffe and Curt Roberts to administrative partner and partner respectively, joining current partners Gavin Christensen and Dalton Wright. Roberts’ background, paired with the success of investments such as Cotopaxi, Chatbooks and Stance, will allow Kickstart to continue exploring promising scalable consumer businesses and backing great tech founders in Utah and surrounding states.
“Startup life is too hard to not work with great people, and Kickstart is made up of the best kind of people who understand business and know startups,” said Nate Quigley, CEO of Chatbooks. “We know that Kickstart is with us for the full journey—they are understanding and give constructive help during the tough times, and they're awesome to celebrate with during the high times.”
About Kickstart Seed Fund
Kickstart Seed Fund is a seed-stage venture capital firm based in Salt Lake City, UT. Kickstart Seed Fund’s mission is to fuel the best companies in Utah and the Mountain West by providing smart capital, a connected community and expert guidance. Since raising its first fund in 2008, Kickstart has invested in more than 100 companies. For more information, visit www.kickstartseedfund.com
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