InnoVentures Capital Recognized by MountainWest Capital Network for Funding Nine Utah Companies

“Small businesses will be key to renewing economic growth in Utah and the country and funds like InnoVentures are helping fuel those small businesses,” stated Reed Chase, Chairman of the Deal Flow event. “We would like to thank MountainWest for their recognition and for the key role that they play in providing a forum for entrepreneurs to network with people who can help their businesses,” continued Steve Grizzell.

The nine companies funded by InnoVentures in 2008 were Portal-Tek, an off-road vehicle equipment manufacturer; Footnote, an online genealogy source firm; NexTalk, a telecommunications solution provider for the deaf; Jive Communications, a VoIP business service solution; Discover Rental, a rent-to-own furniture retailer; Educaz, manager of English language schools in Mexico; Property Solutions, provider of software solutions for the property management industry; Five Star Painting, a painting franchise company; and DriverTech, a software company addressing the trucking industry. “The companies that we financed clearly indicate the breadth of businesses that we will fund. Service businesses, software and manufacturers are all potential candidates for our unique type of venture debt,” explained Steve Grizzell.

InnoVentures Capital Partners is the manager of the UTFC family of funds located in Salt Lake City, Utah. We invest in small companies throughout the region by providing subordinated debt to start-up and growing businesses. We fill a unique niche in the Utah venture capital network by providing up to $500,000 to entrepreneurial companies supplemented by a team that has invested together in early stage businesses for over a decade.

InnoVentures Capital
Steve Grizzell or Damon Kirchmeier, 801-741-4200
sgrizzell@innoventurescp.com
dkirchmeier@innoventurescp.com