Kickstart Seed Fund was based in 2008. Sure, 2008 — and regardless of the recession, the corporate closed its first fund of $8m.
The seed-stage enterprise capital agency is predicated in Salt Lake Metropolis, Utah, and, because the identify implies, its mission is to get one of the best corporations in Utah and the Mountain West up and operating. It offers good capital and skilled steerage inside a related neighborhood.
Since elevating that first fund in 2008, Kickstart has invested in 60 corporations. With the help of native universities, angel buyers, entrepreneurs, and enterprise capital funds, Kickstart Seed Fund first targeted on investing in promising and scrappy entrepreneurs.
Years of diligence paid off, and right this moment, Kickstart has raised greater than $345m in follow-on capital. It boasts a portfolio of 100+ lively corporations, has $148m in capital beneath administration. Kickstart has additionally positioned some 400 workers at 90 Utah companies.
As a result of Kickstart Seed Fund was the primary seed fund in Utah, the corporate is aware of what it’s wish to be a pioneer, beginning one thing earlier than others perceive the imaginative and prescient. That has made the agency keen to guide investments in promising groups. The workforce has the experience and expertise to develop start-ups and recruit prime expertise. “We work alongside their neighborhood of visionaries which can be dedicated to shifting the entire ecosystem collectively,” says founder and managing accomplice Gavin Christensen. “It’s the community impact at its full potential.”
Elevating enterprise capital is greater than swapping shares for cash; it’s inviting the proper buyers to enhance your workforce. The aim? To help one of the best entrepreneurs within the wild west and supply skilled connections for hyper-growth corporations. The partnership between Kickstart and early-stage corporations in Utah has contributed to unprecedented financial progress for the state.
Kickstart Seed Fund’s success in figuring out one of the best and brightest entrepreneurs is obvious in its portfolio. Since 2008, the corporate has invested in a few of Utah’s most recognisable manufacturers, together with Podium, Stance, Lucid, and Cotopaxi. As an entrepreneur’s accomplice from start-up to launch, lots of the founders from earlier funds have returned to turn into buyers in subsequent funds.
Kickstart Seed Fund’s Portfolio
At present, Kickstart’s portfolio is made up of 150+ lively portfolio corporations, with $311m in belongings beneath administration, and $2.7bn complete capital raised.
Historically, enterprise capital companies add worth primarily via capital and one-on-one interactions similar to board conferences. Kickstart Seed Fund goes past this.
Via a neighborhood platform referred to as Kickstart Collective, Kickstart Seed Fund shares information throughout its networks to portfolio corporations with occasions, assets, and connections. In partnership with entrepreneurs, Kickstart’s podcast, Excellent Pitch, gives a glimpse into the minds of buyers and entrepreneurs, all through a start-up journey.
It gives a concise, fast and tactical information to assist listeners via their every day challenges. Via the neighborhood platform, Kickstart believes that corporations study finest from one different, and strives to type deep connections throughout the Kickstart household.
Kickstart’s secret sauce is its workforce, and the shared core values they’re dedicated to fulfill every day.
1. All in. “We imagine in aligned, targeted, persistent effort over time,” says Christensen. “Success in seed ventures doesn’t occur in a single day. After we put money into an organization we’re additionally investing within the founders and partnering-up for the journey. Normally, there will probably be bumps and setbacks alongside the way in which. We’re affected person and supportive as corporations navigate their solution to success.”
2. Collaboration. “We win as a workforce,” stresses Christensen. “We rent and put money into one of the best, and want one another to be our greatest. It doesn’t matter if the highlight is on us or not, we every have an essential function. We work collectively via the great instances and arduous instances.”
3. Integrity. “We select to behave ethically and with professionalism. We play a long-term recreation as a result of we all know it’s the proper factor to do and good for enterprise.”
4. Humility. “It’s not all about us. No matter our success, we serve entrepreneurs and make investments different individuals’s cash.”
5. Curiosity. Kickstart has a voracious urge for food for studying — “about expertise, the world, and ourselves”. As expertise, industries, political environments and the world change, “we continue to learn so we may be our greatest and again one of the best”.
6. Accountability. “We’re serving to to construct an ecosystem in addition to a fund,” says Christensen. “If not us, then who?”
7. Braveness. “We worth outcomes over consolation. In looking for for the outlier, we recognise that failure is a part of the worth.”
8. Enjoyable. “We benefit from the journey and the battle of constructing one thing particular with humour and gratitude.”
Along with its foremost fund, Kickstart has the student-run Campus Founders Fund. It consists of eight enterprise companions and two scouts investing in 11 universities in Utah, Colorado, New Mexico, and Arizona. The coed enterprise companions meet with student-run corporations looking for funding.
“The Campus Founders Staff spends time conducting due diligence on these corporations,” says Christensen, “and put money into one of the best.” Many Campus Founders Fund-backed corporations go on to achieve success corporations backed by Kickstart Seed Fund, Easy Citizen, Pura, Blerp, Hallo, Recyclops, and Campfire amongst them.
For extra info, go to kickstartfund.com