December 24, 2024
Two of Utah’s premier angel investor groups, Park City Angels and Salt Lake City Angels, are pivotal in bolstering the state’s entrepreneurial ecosystem. By providing capital, mentorship, and strategic guidance, these organizations support early-stage companies poised for innovation and growth.
Park City Angels, established in the heart of Utah’s mountain resort town, brings together accredited investors committed to fostering economic development in the region. The group invests in high-potential startups across technology, health care, and consumer product industries.
Since its inception, Park City Angels has helped bridge the funding gap for entrepreneurs by offering a robust network of investors. The group’s impact extends beyond financial investment. Members actively evaluate business plans, mentor founders, and connect startups to a broader network of resources.
Angels investors are patient, with an average holding term of eight years for an investment. Park City Angels’ members individually invest between $10K-$100K per transaction and $150K-$1.5 million as a group, with as many as seven transactions yearly.
To offset the financial risk and value they provide, Park City Angels seek returns at least 10 times their investment. Funding is awarded after companies have undergone a screening process, with only two companies selected per month to present for funding consideration.
Similarly, Salt Lake City Angels plays a vital role in the state’s startup ecosystem, focusing on early-stage ventures with the potential for significant market impact. Centered in Utah’s capital city, SLC Angels attracts investors and entrepreneurs from across the Wasatch Front. The organization takes a collaborative approach, pooling expertise and financial resources to help promising startups navigate the challenges of launching and scaling their businesses.
SLC Angels believes that “diverse ideas, thoughts, and opinions ultimately lead to better business outcomes.” The investment group values a membership cohort from various backgrounds, cultural experiences, and socioeconomic statuses.
Both groups prioritize high-growth industries and foster collaboration among members. The influence of these angel networks is evident in Utah’s thriving startup ecosystem, which has earned the state national recognition as a growing innovation hub.
With Utah’s entrepreneurial scene continuing to expand, Park City Angels and SLC Angels remain key drivers of growth and innovation. As they look toward the future, their commitment to supporting the next wave of Utah startups underscores their role as critical pillars in the state’s burgeoning economy.
Visit the Park City Angels and Salt Lake City Angels websites for information on funding consideration and investor involvement.
The information in this article is current as of the publishing date and is intended for informational purposes only. This article does not, and is not intended to, constitute legal, tax, or business advice. Any resources and organizations mentioned, unless an entity of or a partner of the state of Utah, are not formally endorsed by the Startup State Initiative or state of Utah.