Peak Ventures, an early-stage venture capital firm based in Provo, Utah, is to raise its second fund.
The amount sought for the new vehicle – Peak Ventures Fund II, L.P. – was not defined, according to a regulatory form filed with the SEC. The doc lists Jeff Burningham, Jamie Dunn, Jeff Danley and Sid Krommenhoek as people related to the offering. The firm’s team also includes principals Sam Bernards and John Mayfield.
Peak Ventures backs entrepreneurs going after big markets with exceptional technologies leading out investments as the first institutional capital in, typically investing $250K-$1M as well as bringing operational expertise to them. Roughly 50% of backed businesses are located in Utah, 25% outside of Utah but in the Mountain West, and 25% are outside of the Mountain West.
The portfolio currently includes 24 companies.