EPIC Ventures and University of Utah Launch New Fund ...
Salt Lake City, Utah, September 9, 2024
The University of Utah and EPIC Ventures, a Salt Lake City based early-stage venture capital firm, have partnered to launch University of Utah Ventures, Powered by EPIC. By combining the University of Utah's innovation engine with EPIC’s extensive network, the partnership will catalyze growth for early-stage technology companies across various sectors, including software, health and life sciences and financial technology.
“University of Utah Ventures represents a transformative opportunity for both the university and the broader entrepreneurial ecosystem,” said Taylor Randall, president of the UofU. “By partnering with EPIC Ventures, we are positioning ourselves to not only foster groundbreaking innovation within our institution but also to drive significant economic growth across the region.”
The fund is designed to leverage the UofU's nearly $700 million in research funding and rich history of alumni founders with EPIC Ventures’ expertise in scaling successful businesses. The University of Utah and EPIC have a history of collaborating, having partnered in investing in and supporting the team at Recursion Pharmaceuticals, now a $2 billion publicly traded company.
“Research is not only about innovation and solving societal challenges but transitioning those discoveries into access and economic development. The venture fund is part of a larger VPR strategic plan to improve our technology transfer process at the UofU and to include commercialization earlier into the research discovery pipeline,” said Erin Rothwell, vice president of research at the UofU.
The EPIC Fund and University of Utah partnership was facilitated by the UofU’s designated office for startups, the Utah Venture Hub, run by Jim Hotaling, associate vice president for commercialization. Utah Venture Hub is designed to connect faculty entrepreneurs with experts in business, early-stage capital and a network of advisors to fuel spin out companies.
“The fund is viewed as a major milestone in the journey of the University of Utah to become a leader in the innovation and commercialization space,” said Hotaling. “The fund will provide unique opportunities for university affiliated startups, faculty spinouts and external entrepreneurs seeking to capitalize on the strategic value of the U’s resources and EPIC’s industry expertise.
“This collaboration is more than just an investment fund—it’s a strategic initiative to empower entrepreneurs and transform ideas into impactful businesses,” said Nick Efstratis from EPIC Ventures. “We are excited to work alongside the University of Utah to create a lasting legacy of innovation in the Intermountain West.” EPIC Ventures brings nearly three decades of experience to this partnership. The firm’s expertise in early-stage investments will be instrumental in helping University of Utah Ventures achieve its goals.
"We are thrilled about the launch of the University of Utah Fund, which will provide another crucial layer of capital to fuel the growth of early-stage companies. This initiative will significantly bolster the Utah Innovation Fund’s capacity in driving commercialization efforts,” said Jefferson Moss, managing director of Utah Innovation. “This collaboration is about more than just capital; it’s about building a comprehensive ecosystem that fosters innovation, drives sustainable economic growth and cements Utah’s reputation as a leader in translating academic research into real-world impact.”
Jefferson Moss, Managing Director, Utah Innovation FundRead more about EPIC Ventures here.
