Monday, March 18, 2019

Hall Venture Partners Launches New VC Fund In Utah

Utah has a brand new, venture capital firm, Hall Venture Partners, and a new fund, the Hall Opportunity Fund 1, the firm said today. The new fund is worth $10M. According to Hall Venture Partners, its new fund is led by David Hall, Derek Weber, Matt Van Dyke and David Kunz, and will invest in early growth companies based in Utah. In particular, the new fund said it will invest in federally designated "opportunity zones", areas which provide a tax advantage to investors. Hall said the new Hall Opportunity Fund I will take advantage of recent federal legislation which encourages investments into the "opportunity zones", including those in Provo. Hall Ventue Partners said the new fund came out of a family office, the Hall Family Office, which the company says has more than 60 years of "legacy in the technology and material science acceleration efforts. Hall Venture partners said that, so far, it has seen exits worth more than $450M.