Utah Capital
OVERVIEW U.C.A 63N-6-301 Utah Capital is an investment fund created to help Utah entrepreneurs access diversified sources of capital. The fund is aligned with GOED’s targeted Utah growth industries of IT and software development, life sciences, energy and natural resources, financial services and aerospace. Utah Capital plays an active role in guiding Utahbased companies—from helping early-stage Utah companies craft strategy to assisting more established businesses in evaluating expansion plans and financing options. In conjunction with GOED’s EDTIF, the legislature created Utah Capital (Utah Fund of Funds) to help companies secure investment they need to start, grow and contribute to the state’s economy. Utah Capital and EDTIF may have supplied post-performance incentives or other funds to some of the same companies, provided that each company made separate applications and met the separate criteria. Prepared in accordance with the requirements of 63N-6 of the Utah Venture Capital Enhancement Act. Portfolio Performance as of 12/31/14 • 2.4% net internal rate of return including financing and administrative costs since fund inception • 16.8% net internal rate of return including financing and administrative costs for the reporting period • $63.7 million investment distributions since fund inception • $113.1 million net asset value of Utah Capital portfolio funds • No new investment commitments will be made under the current financing structure
Governor’s Office of Economic Development • 2015 Annual Report • www.business.utah.gov
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