EPIC Ventures and University of Utah Launch New Fund —University of Utah Ventures

Salt Lake Metropolis, Utah, September 9, 2024

The College of Utah and EPIC Ventures, a Salt Lake Metropolis primarily based early-stage enterprise capital agency, have partnered to launch College of Utah Ventures, Powered by EPIC. By combining the College of Utah’s innovation engine with EPIC’s in depth community, the partnership will catalyze progress for early-stage expertise corporations throughout numerous sectors, together with software program, well being and life sciences and monetary expertise.

“College of Utah Ventures represents a transformative alternative for each the college and the broader entrepreneurial ecosystem,” stated Taylor Randall, president of the UofU. “By partnering with EPIC Ventures, we’re positioning ourselves to not solely foster groundbreaking innovation inside our establishment but additionally to drive vital financial progress throughout the area.”

The fund is designed to leverage the UofU’s practically $700 million in analysis funding and wealthy historical past of alumni founders with EPIC Ventures’ experience in scaling profitable companies. The College of Utah and EPIC have a historical past of collaborating, having partnered in investing in and supporting the workforce at Recursion Prescribed drugs, now a $2 billion publicly traded firm.

“Analysis just isn’t solely about innovation and fixing societal challenges however transitioning these discoveries into entry and financial growth. The enterprise fund is a component of a bigger VPR strategic plan to enhance our expertise switch course of on the UofU and to incorporate commercialization earlier into the analysis discovery pipeline,” stated Erin Rothwell, vice chairman of analysis on the UofU.

The EPIC Fund and College of Utah partnership was facilitated by the UofU’s designated workplace for startups, the Utah Enterprise Hub, run by Jim Hotaling, affiliate vice chairman for commercialization. Utah Enterprise Hub is designed to attach college entrepreneurs with specialists in enterprise, early-stage capital and a community of advisors to gas spin out corporations.

“The fund is seen as a significant milestone within the journey of the College of Utah to turn into a frontrunner within the innovation and commercialization house,” stated Hotaling. “The fund will present distinctive alternatives for college affiliated startups, college spinouts and exterior entrepreneurs searching for to capitalize on the strategic worth of the U’s sources and EPIC’s trade experience.

“This collaboration is extra than simply an funding fund—it’s a strategic initiative to empower entrepreneurs and remodel concepts into impactful companies,” stated Nick Efstratis from EPIC Ventures. “We’re excited to work alongside the College of Utah to create a long-lasting legacy of innovation within the Intermountain West.” EPIC Ventures brings practically three many years of expertise to this partnership. The agency’s experience in early-stage investments shall be instrumental in serving to College of Utah Ventures obtain its targets.

“We’re thrilled concerning the launch of the College of Utah Fund, which is able to present one other essential layer of capital to gas the expansion of early-stage corporations. This initiative will considerably bolster the Utah Innovation Fund’s capability in driving commercialization efforts,” stated Jefferson Moss, managing director of Utah Innovation. “This collaboration is about extra than simply capital; it’s about constructing a complete ecosystem that fosters innovation, drives sustainable financial progress and cements Utah’s popularity as a frontrunner in translating educational analysis into real-world impression.”

Learn extra about EPIC Ventures right here.