During the first weeks of April, a number of companies in Kickstart’s portfolio received additional funding, including Podium ($125 million Series C), Lucid ($52 million Series D), SonderMind ($27 million Series B) and Galileo was acquired by SoFi for $1.2 billion leading to one of the most notable weeks in Kickstart’s history. In 2020 and beyond, Kickstart remains committed to the earliest stages of startup development in the region and will invest aggressively through the current headwinds.ĭespite the current economic challenges, Kickstart companies continue to make strides and are prepared to grow faster than ever. The subsequent boom in Utah’s tech economy and its associated job creation are the fruits of founders and investors, inside and outside of Kickstart’s portfolio, who kept building even when the sky was falling. With global markets in turmoil, Kickstart used its first fund of $8 million to jumpstart nascent tech companies led by founders who believed they could build durable businesses that would thrive in the changing world. Kickstart’s fifth fund comes as an echo of the circumstances under which the firm came into existence during the previous financial crisis as people were struggling, companies were collapsing and entrepreneurship was faltering. This new fund reflects long-term investor confidence in the innovative capacity and economic growth of the region and will be used to back entrepreneurs launching the iconic companies and leading employers of the future.įounded during the Great Recession of 2008, Kickstart has funded over 100 startup companies and intends to actively invest through the current pandemic crisis to support the brave entrepreneurs who gather strength from adversity and provide leadership through uncertain times. SALT LAKE CITY, Ap(GLOBE NEWSWIRE) - Kickstart Seed Fund (Kickstart), the most active venture capital firm in the Mountain West, today announced the close of an oversubscribed Fund V at $110 million, raising its total assets under management to over $250 million.
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