InnoVentures is the manager of the UTFC Funds which are licensed Small Business Investment Companies (SBIC's) in Salt Lake City, Utah. We invest in small companies throughout the region by providing subordinated debt to start-up and growing businesses. We are focused on early stage companies primarily in services, manufacturing and information technology. InnoVentures closed its first fund at $9.6 million and began operations in August, 2001. The second fund was closed in 2007 at $12 million.

InnoVentures is committed to financing strong new companies.
InnoVentures invests in companies throughout Utah and the neighboring states. InnoVentures focuses on strong businesses that have too little collateral or operating history for traditional banks but have good potential for growth.

The Wasatch Front is now a blossoming region for technological development and commercialization. Historically, however, Utah has had relatively little capital available for short-term, non-asset-based investments critical to the success of emerging companies. Banks, for a variety of reasons, are often unable to assume the risk of lending to companies which develop emerging technologies.

InnoVentures acts as a catalyst in bridging Utah's capital gap by working as partners with venture capital firms, banks, and other investor groups to leverage our funds to increase the amount of private financing that developing businesses receive. InnoVentures helps prepare these businesses for future funding.

InnoVentures provides subordinated debt financing up to $500,000. To ensure the log-term success of the companies it finances, InnoVentures monitors each company's progress and offers technical assistance in critical areas of business management. This support results in financially strong companies which become eligible for further financing and companies which are better prepared to succeed in today's competitive business environment.

InnoVentures continues to innovate and improve its financial products to meet the changing demands and needs of the regional business community.

History
The predecessor to InnoVentures, the Utah Technology Finance Corporation, was created by the Utah Legislature in 1983 to promote economic development and job creation throughout the state. As an independent, non-profit corporation, Utah Technology Finance Corporation provided financial assistance to Utah companies that had the potential to provide substantial employment and measurable economic benefits to the state and its citizens.

Utah Technology Finance Corporation financed over 250 companies and helped to create over 8,000 jobs in its 18 year history. In fiscal year 2000 alone, current and former borrowers returned over $11,000,000 in taxes to the state of Utah.