In recent years, Salt Lake City, the most populated city in Utah, has witnessed a significant growth in startups. With almost 500 startups, Salt Lake City continues to become a hotbed for startups, attracting many entrepreneurs and angel investors.

Similarly, SLC has also hosted over 1000 startup events only in 2023. Want to know more about these investors and their funding campaigns?

Well, let's not wait any longer and dive into the list of the top 6 angel investors in Salt Lake City.

Top 6 Angel Investors in Salt Lake City

Following is the list of the top angel investors and VC firms in Salt Lake City. Before contacting any investor, it is recommended to check their portfolio companies, learn the tactics you can use to attract their investment and most importantly, learn about industries which they focus on investing in.

SLC Angels

Website: SLC Angels

Investor Type: Venture Capital Firm

Investment Interests: AI, Venture Capital, Consumers Products, and Tech.

SLC Angels is a network of angel investors located and funding startups in Salt Lake City. The network was founded by Andrew Jorgensen in 2005 and has funded a total of 33 startups.

When funding startups, SLC Angels strictly focuses on seed and early-stage companies with massive growth chances. The investor panel consists of many experienced entrepreneurs and professional investors that only fund deserving startups, mostly related to the tech sector.

Aside from their investments, SLC Angels also focuses on mentoring businesses and guiding them across different startup stages. The firm has a team of mentors who organize business classes and mentorship programs throughout the year.

The investment range of SLC Angels ranges from 500,000 to several million dollars. Some of their recent portfolio companies are:

CommSafe AI: It is software that measures virtual communications for negative sentiment and automatically flags keywords and phrases related to instances of workplace conflict and violence.

The Artemis Fund: A venture capital firm that invests in female-founded, tech-enabled companies. Aside from tech, they also invest in a wide range of startups that can be confirmed from their official website, The Artemis Fund.

Skill Struck: Skill Struck provides an online learning platform with valuable resources for schools and teachers, offering students an engaging, fun learning experience.

Epic Ventures

Website: EPIC Ventures (epicvc.com)

Investor Type: Venture Capital Firm

Investment Interests: Tech

Epic Ventures is an active venture capital firm that funds and guides startups in Salt Lake City. After funding more than 130 startups at the seed stage, Epic Ventures is ready to boost more ventures and turn dreams into reality for entrepreneurs.

The network was founded by Nick Efstratis in 1994 and has been actively funding tech-related startups ever since. Epic Ventures has a separate investment team that analyzes growth potential, estimated ROI, and the current condition of the startup and its team before providing funding.

Once they have provided the required funding, Epic Ventures ensures the startup can turn into a future brand and have a successful exit through their mentorship programs.

The investment range of Epic Ventures ranges from $200,000 to $2M. Some of their recent investments are:

Adaptive Computing: Adaptive Computing provides advanced applications and tools to High-Performance Computing installations, enhancing performance, improving efficiency, and reducing costs. Their products and services are used by organizations of all sizes across a broad range of industries.

Ancestry: Ancestry is a platform that helps you understand your genealogy. It is the world's largest collection of online family history records.

Artifact: Artifact uses machine intelligence to build reports based on customer interaction, feedback, and habits. There are over 30 data sources Artifact can identify, and using this history, the software extracts insights on a daily basis.

Pelion

Website: Pelion | Home (pelionvp.com)

Investor Type: Venture Capital Firm

Investment Interests: Tech

Pelion is also a venture capital firm that was founded by Carl Ledbetter and Jim Dreyfous in 1984. Being one of the oldest firms in Salt Lake City, Pelion takes an experienced approach when funding startups.

The network conducts online and physical pitching competitions to fund the best and most deserving startup ideas. The investors prefer a startup that can generate five times ROI within the first three years of investment.

Moreover, Pelion has funded more than 200 seed-stage startups and always focuses on the growth potential of their startup. Like many other networks, they also arrange different networking events and business workshops.

The investment range of Pelion ranges from $ 1M to $ 6M. Some of their recent portfolio companies are:

Firefly: Firefly Aerospace develops launch vehicles for commercial launches to orbit. The company completed its $75 million Series A investment round in May 2021, which was led by DADA Holdings with a major contribution from Pelion.

Astound: Astound Broadband is an American telecommunications holding company. It has recently completed a $2.36 billion purchase of Kirkland-based Wave Broadband by private equity firm TPG Capital and Pelion.

MX: MX improves business and consumer outcomes by helping businesses to connect and verify data reliably. The company also adds context to financial data, surfaces insights that drive growth, and gains customer intelligence.

Banyan Ventures

Website: Home - Banyan Growth Partners

Investor Type: Venture Capital Firm

Investment Interests: Manufacturing, business services, construction, and other industrial sectors.

Founded by the famous entrepreneur Tyler Thatcher in 2003, Banyan Ventures is also a venture capital firm that provides funding to startups in Salt Lake City. While the firm isn't headquartered in Salt Lake City, it still funds startups all over Utah.

Moreover, Banyan Ventures also has an extensive network of investors that select the best startups throughout the state. Although the competition might be high, Banyan Ventures is known to have some of the most experienced and professional mentors who guide startups throughout their journey.

The investment range of Banyan Ventures ranges from $ 1M to $ 6M. Some of their famous investments are:

Restore: The company provides security services, allowing organizations to protect, manage, and utilize their valuable data, information, and assets. 

MobilityRE: MobilityRE is an end-to-end mobile real estate technology solution for real estate professionals. It serves agents, teams, and brokerages with native apps, SMS text messaging shortcodes, call capture info, social media integration, and mobile websites.

CellAgain: CellAgain is a company that provides mission-critical services enabling organizations to protect, manage, and utilize their valuable data and information.

DW Healthcare Partners

Website: Home - DWHP

Investor Type: Venture Capital Firm

Investment Interests: Healthcare

DW Healthcare Partners is also one of the biggest venture capital firms headquartered in Park City, Utah. Founded in 2002 by Andrew Carragher, the network has funded a total of 50 startups in the healthcare sector.

When funding startups, DW Healthcare Partners only funds companies that have huge chances of growth and can positively impact the community. They look for high-growth businesses with at least $5 million in EBITDA and prefer to be the majority investor.

Aside from investments, DW Healthcare Partners also invest their time in guiding startups and ensuring their success.

The investment range of DW Healthcare Partners ranges from $ 20M-$60M, depending on the startup type. Some of their recent investments are:

Pentec Health: Pentec Health provides trusted, innovative solutions for patients with complex conditions. Their services include 1:1 ABA-Based Behavioral Health Treatment, Social Skills Groups, and Caregiver Training.

Hydrafacial: Hydrafacial uses patented technology to cleanse, extract, and hydrate with super serums that cleanse the skin.

360 Behavioral Health: 360 Behavioral Health is a brand that combines service providers and delivers exceptional care to individuals impacted by autism and other developmental delays.

Robert Sorenson

LinkedIn: Robert Sorensen 

Investor Type: Individual Angel Investor

Investment Interests: Tech, Healthcare, Software, Fintech, Cybersecurity, and Market Solutions. 

Founder of the Sorenson Impact, Robert Sorenson, is one of the few active individual angel investors in Salt Lake City. The investor has funded more than 40 companies individually as well as through his firm since its inception in 2013.

Similarly, Robert Sorenson focuses on startups that can grow and generate 3x ROI within the first two years of investment. He also hosts different mentorship and accelerator programs to help startups grow.

The investment range of Robert Sorenson ranges from 100,000 to several million dollars. Some of his recent portfolio companies are:

CyCognito: CyCognito is a cybersecurity company offering a security risk assessment platform. Their platform autonomously discovers, enumerates, and prioritizes each organization's security risks.

Vendia: Vendia is a technology company that develops a multi-cloud serverless development platform. Their platform enables customers to share data and code in real-time across multiple clouds and companies.

Oyster: Oyster is a global employment solution provider. They offer a platform that makes it easier for companies to hire, pay, and take care of employees anywhere in the world.

Wrap Up

Summing up, angel investors can definitely help you boost your business by providing funding and guidance.

Before pitching to investors, it is better to research well, prepare a practical checklist, and, most importantly, have confidence in your idea and team.

Frequently Asked Questions