Monday, September 8, 2014

Peak Ventures Raises $23 Million Venture Capital Fund

Provo, Utah-based Peak Ventures announced this morning that it has raised a $23M, venture capital fund, specifically aimed at investing in technology startups in Utah and the rest of the Mountain West. According to Peak, the fund will invest in early stage companies, investing between $100,000 to $1M in those companies. Peak was founded by Jeff Burningham, Jeff Danley and Jamie Dunn, and until recently was focused on real estate investments. The new fund is being run by technology veterans Sid KrommenhoeZ and Burningham. Burningham founded MindWire, and KrommenhoeZ founded Zinch (acquired by Chegg). Peak said that so far, it has already invested in seven companies, including Grasswire and Owlet.