Venture capital sends cash to Utah businesses. $40 Million here…$45 Million there. Pretty soon you’re talking about real money. $249 million in ’05. Now that’s economic development!!

Venture capital investment in Utah companies jumped by nearly one-third last year, reaching a five-year high of $249 million.

The significant increase in investment, outlined in PricewaterhouseCoopers’ MoneyTree Survey, demonstrates how much the size of venture-capital deals in Utah has grown in recent years, said Joe Strain, a PricewaterhouseCoopers spokesman.

The largest deal in 2005 was Amp Resources LLC in Draper, which received $45 million in the first quarter of the year, according to the report. The next largest was Omniture Inc. in Orem, which received $40 million in the second quarter.

By Lesley Mitchell
The Salt Lake Tribune

Full Story: http://www.sltrib.com/business/ci_3437978

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Utah firms’ venture deals leapt 32% from ’04 to ’05 http://deseretnews.com/dn/view/0,1249,635179412,00.html

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