November 30, 2023
RevRoad Capital, based in Provo, Utah, launched its first fund, RevRoad Capital 1 (RRC1), with a total of $61 million.
Launched in July 2022, RRC1 is notable for several reasons:
- Largest debut early-stage venture fund in Utah State history,
- Largest fund closed “between the coasts” (from mid-2022 until now),
- Fourth largest debut early-stage venture fund ever raised in the Mountain States region, and
- RRC1 investors include 30% women.
“Utah is one of the top states in the country for entrepreneurial women, and it has been exciting for our team to receive the financial backing of many successful women as we’ve raised our fund,” said Rachelle Morris, co-founder and managing director of RevRod Capital. “When you look at what we’re building and how we’re building, you cannot separate women from men in the story of RevRoad Capital. We are all working together.”
In November 2022, RevRoad Capital invested in a South Jordan-based company, Particl, which raised $8.5 million in a Series A round of funding.
In February 2023, the company led a $6.5 million Seed Round for Provo-based Hypercraft.
RevRoad Capital also invested in Halosight, Kinectify, and Sierra Innovations.