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Utah Innovation Fund

Venture capital

Salt Lake City · Pre-Seed–Seed · 29 people tracked

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Investment thesis

The fund was created to accelerate Utah's economy by investing early and with conviction in early-stage, deep-tech ventures spun out of the state's universities and research institutions. Beyond capital, it provides founders with access to mentorship, networks, and commercialization support, aiming to connect locally developed research to global markets. Its stated goal is to drive economic, scientific, and social returns to Utah, positioning itself as an innovation engine that helps founders move discoveries from the lab bench to business launch.

Source: firm website, verified Aug 3, 2026.

Stage
Pre-Seed–Seed
HQ
Salt Lake City, Utah, US
Instruments
Equity
Founded
2023
AUM
$40M
Tracked investments
20

Team · 29 people

from the firm's website & public directories
Adem Goktepe· Student Analyst

Student analyst from Utah State University.

Ali Reza Salman· Student Analyst

Student analyst from the University of Utah.

Alicia Du· Student Analyst

Student analyst from the University of Utah.

Charles Rey· Student Analyst

Student analyst from the University of Utah in the Student Analyst Program.

Cole Geisler· Student Analyst

Student analyst from Utah State University.

Cole Jones· Student Analystin

Student analyst from Utah State University.

Dax Hartvigsen· Student Analyst

Student analyst from Brigham Young University.

Diego Perez· Student Analystin

Student analyst from the University of Utah.

Eric Haslam· Student Analyst

Student analyst from Brigham Young University.

Erika Hendrawan· Student Analyst

Student analyst from Southern Utah University.

Grant Weeks· Student Analyst

Student analyst from Utah Valley University.

Guangning Wang· Student Analystin

Student analyst from the University of Utah.

Kainoa Shintaku· Student Analyst

Student analyst from Brigham Young University.

Kendyl Holle· Student Analyst

Student analyst from Brigham Young University.

Kent Wilkison· Student Analyst

Student analyst from the University of Utah.

Kristin Wihera· Director of Fund Operations
Mackey Barry· Student Analyst

Student analyst from Brigham Young University.

Santiago Ramirez· Student Analyst

Student analyst from Brigham Young University.

Thomas Hawes· Student Analyst

Student analyst from Brigham Young University.

Tyler Gale· Student Analyst

Student analyst from Utah State University.

What they invest in

from 17 of 20 portfolio companies

Biotech ×9Healthtech ×8Medical Devices ×8AI & Machine Learning ×7Deep Tech ×5Hardware ×4Digital Health ×3Enterprise Software ×3

HQs:United States×8

Who they back

founder profiles across 11 portfolio companies
45%
solo founders
5 of 11 mapped founding teams

Founding team size:solo founder×52 founders×23 founders×24+ founders×2

Investments · 20 tracked

founders shown can be your intro path

By year:2025 · 12024 · 22023 · 12022 · 15 dated

Purgo Scientificpurgoscientific.comin✓ verified

Purgo Scientific develops localized drug delivery medical devices designed to deliver therapeutics to specific anatomical sites.

BiotechHealthtechMedical DevicesSouth Jordan, US

Dustin Williams, PhDDUSTIN WILLIAMS(CHIEF SCIENCE OFFICER)inMICHAEL BENJAMIN(CHAIRMAN AND CEO)Nicholas Ashton, PhD(Chief Technology Officer)in

BoardSTEPHANIE MORLEY(Director)

3Helix3helix.com𝕏Oct 2023

3Helix develops and sells collagen hybridizing peptides (CHP) and related conjugates for research and diagnostic applications.

BiotechHealthtechMedical DevicesNew MaterialsSalt Lake City, US

Mike Kirkness(CEO)inToby Barrack(VP)inMichael Fugman(Director)Michael Yu(Director)Noah Nasser(Director)

BoardNalini D Kelly(Director)

Authentifaceauthentiface.comin𝕏Apr 2024

Authentiface provides facial motion-based authentication technology that combines facial recognition with motion verification to enable secure access to both digital systems and physical locations without traditional passwords or tokens.

AI & Machine LearningCybersecurityDeep TechHardware

D. J. Lee(Founder and CEO)Shad Torrie(Co-Founder and CTO)in

Biologicinputoutputsystemsbiologicinputoutputsystems.comin

Biologic Input Output Systems develops neural interface technology to restore natural movement and sensation for individuals with limb loss, enabling intuitive control of prosthetic limbs through direct brain-machine connections.

BiotechDeep TechMedical DevicesRobotics

Jacob A. George(Co-Founder and Chief Scientist)inJosh Miller(Co-Founder and Chief Executive Officer)Tim Miller(Co-Founder and Chief Development Officer)inWendy Huang(Co-Founder and Chief Operating Officer)in

Bloomsurgicalbloomsurgical.comin

Bloom Surgical develops surgical instruments and technology solutions for surgical teams in healthcare settings.

HardwareHealthtechMedical Devices

Jacob(CEO & Cofounder)Brandon(CTO)

Busterbuster.so𝕏

A workflow automation platform that enables teams to build specialized agents and automations using coding agents like Claude Code and Cursor.

AI & Machine LearningEnterprise SoftwareSaaS

Co-investorsCampus Founders FundTranspose Platform ManagementGeneral CatalystY Combinator

Corventumcorventum.com

Corventum is a biopharmaceutical company developing therapies that protect the heart from the toxic effects of cancer treatment, allowing patients to continue first-line oncology therapy.

BiotechMedical Devices

Edentechincedentechinc.comin

Eden Technologies develops Genesis, a reverse osmosis centrifuge technology designed to address water scarcity by making clean water more accessible globally.

CleantechDeep TechHardwareLas Vegas, US

Hunter Manz(Founder & CEO)inZachary Manweiler(Co-Founder & CTO)inReece Thompson(Co-Founder & CSO)in

Evobioevobio.com

Evolutionary Biologics (EvoBio) makes perinatal tissue-derived regenerative products for hair, skin and body used by clinics.

Inherent Biosciencesinherentbio.cominAug 2022

Inherent Biosciences develops clinical diagnostic solutions using epigenetics and AI to address complex healthcare concerns.

AI & Machine LearningBiotechDigital HealthSalt Lake City, US

Andy Olson(Founder)inKristin Brogaard, PhD(Founder)in

Co-investorsMedMountain VenturesPortfoliaAlliance of AngelsPropel Bio Partners

Intactisintactis.bioin

Intactis Bio develops a rack-mountable AI accelerator, the Biohybrid Processing Unit (BPU), that combines silicon processors with lab-grown living neurons and a brain-machine interface to run energy-efficient AI/ML data processing.

AI & Machine LearningBiotechDeep Tech

Daniel Rodriguez-Granrose, PhD, PSM(Founder)in

Keystrokekeystroke.aiin𝕏Seed

Keystroke is a platform for building specialized agents and workflow automations that integrate with coding agents like Claude Code and Cursor, allowing users to build actual TypeScript code that lives in their repository and deploy to the Keystroke platform for credential management, logging, and access control.

AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareSaaSSalt Lake City, US

Blake Rouse(Founder)inDallin Bentley(Founder)in

Co-investorsY CombinatorBreakpoint CapitalContour Venture PartnersEight CapitalGaingelsGeneral Advance+8 more

Luciditysciencesluciditysciences.comin

Lucidity Sciences develops Lumawarp, an AI/ML engine that constructs compact kernel-based models directly from data using a geometric framework, achieving state-of-the-art performance in models measured in kilobytes with microsecond inference speeds.

AI & Machine LearningDeep TechEnterprise Software

Alexandra Pasi, PhD(Founder)in

Mvtpharmamvtpharma.com

MVT Pharma develops ultrasound contrast agents and theranostics to advance imaging and treatment capabilities.

BiotechDigital HealthHealthtechMedical Devices

Evan C. Unger(Founder and CEO)Emmanuelle J. Meuillet(Chief Operating and Scientific Officer)

Paternabiopaternabio.comOct 2024

Paterna Biosciences is developing a first-in-class biologic for reproductive biology using in vitro spermatogenesis technology.

BiotechDigital HealthFemTechHealthtechMedical DevicesSalt Lake City, US

Alex Pastuszak(Co-founder and Chief Executive Officer)Brad Cairns(Co-founder and Chief of Scientific Advisors)Jim Hotaling(Co-founder and Chairman)Danny Mitchell(Executive Officer)Edward Rowland(Executive Officer)Ryan Morley(Director)

Co-investorsDivergent CapitalDraper AssociatesSeaside VenturesSpringTide Ventures

Prism Aiprism-ai.com

Prism AI builds an AI platform for biomarker discovery and drug development from multi-omics clinical trial data.

Co-investorsEvolution VC PartnersVela Partners

Rebel Medicinerebelmedicine.cominJun 2025 · $6M

Rebel Medicine develops preclinical investigational drugs and wound care products designed to provide pain relief without opioids.

BiotechHealthtechMedical DevicesSalt Lake City, US

Brett Davis(Executive Officer, Director)inCaleb Lade(Executive Officer, Director)

BoardJohn Poyhonen(Director)Kevin Passey(Director)Mai Nguyen(Director)

Co-investorsCentral Texas Angel NetworkColorado BioScience Association

Solutiondxsolutiondx.com

SolutionDx is a Houston-based rapid diagnostics company combining microfluidic test cards with smartphone-based AI image analysis.

Stratususestratus.comin

Stratus builds an AI platform for dental practice front desks, automating insurance verification and coordination so staff spend minutes rather than hours on claims and calls.

AI & Machine LearningHealthtechInsurTechSaaS

Co-investorsPenny Jar Capital Venture

Tellusensorstellusensors.comin

TELLUS Sensors manufactures professional-grade air quality monitors that track multiple pollutants and environmental parameters for residential, commercial, industrial, and research applications.

CleantechClimate TechConsumerHardwareHealthtechIoTSalt Lake City, US

Kerry(Co-founder)Pierre-Emmanuel(Co-founder)Tom(Co-founder)Doug(President and CEO)

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Utah Innovation Fund made?
Utah Innovation Fund has 20 tracked investments, including 2 dated in the last 24 months.
What stage does Utah Innovation Fund invest at?
Utah Innovation Fund invests at the Pre-Seed, Seed stages.
What sectors does Utah Innovation Fund focus on?
Utah Innovation Fund focuses on Advanced Manufacturing, Biotech, Data & Infrastructure, Deep Tech, Energy, Enterprise Software, SaaS.
Where is Utah Innovation Fund located?
Utah Innovation Fund is headquartered in Salt Lake City, US.
Who does Utah Innovation Fund co-invest with?
Utah Innovation Fund most often shares deals with Draper Associates, Evolution VC Partners, MedMountain Ventures, among 13 tracked co-investors.

Images

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