Provo, Utah-based Peak Ventures, a wholly owned subsidiary of Peak Capital Partners, closed a $23m venture capital fund aimed at seed-stage startups in Utah and the Mountain West, including Las Vegas, Boise, Phoenix and Albuquerque.
Peak Ventures Fund 1, which was raised from accredited international and domestic investors, will invest initial amounts into early stage companies ranging from $100k to $1m, preferably $250-500K.
Led by Jeff Burningham and Sid Krommenhoek, the fund has already invested in seven companies. Recent investments include:
– Grasswire, a real time newsroom curated by social media outlets and fact checked by viewers; and
– Owlet, a developer of a wearable “smart sock” for a baby’s foot that tracks movement and measures information like heart rate, oxygen levels and body temperature.
FinSMEs
08/09/2014