Thursday, October 31, 2019

Peak Ventures Becomes Album VC, Raises Third Fund, Worth $75M

Lehi, Utah-based Peak Ventures has raised a new, $75M venture capital fund, and renamed itself Album VC, the firm said this week, as it continues to build out its reputation for investing both in Utah and out of area companies. The third fund is the largest for Album VC so far; the last fund, Peak Ventures II, was worth $56M; and the company's first fund was $21M. Album VC's investments--under the Peak Ventures name--have included such companies as SalesRabbit, Neighbor, Divvy, ZipBooks, Podium, Owlet, MX, Lendio, Degreed, and many other companies both inside Utah and elsewhere. The company's partners are Sid Krommenhoek, John Mayfield, and Diogo Myrrha.