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Finance

Providing perspective and contextual insights on the monetary aspects of the Finance industry within the state of Utah, from Banking to FinTech and from venture capital to cryptocurrency.

RevRoad Capital Raises $61 Million for its Debut Fund, with a Primary Focus on Seed Round Investments in Utah Firms

RevRoad Capital Raises $61 Million for its Debut Fund, with a Primary Focus on Seed Round Investments in Utah Firms

In the worst fund-raising environment of the past decade*, Provo, Utah-based RevRoad Capital has formally launched its first fund, RevRoad Capital 1 (RRC1), with a total of $61 million in investable capital raised. Formally launched in July 2022 by four co-founders as a sister company to Provo-based RevRoad (a "

After Prior Gifts Totaling Over $80 Million, the Huntsman Family has Halted All Donations to the University of Pennsylvania and its Wharton School of Business

After Prior Gifts Totaling Over $80 Million, the Huntsman Family has Halted All Donations to the University of Pennsylvania and its Wharton School of Business

In a letter published by alumnus, Jon Huntsman Jr. to UPenn President Magill, the former U.S. Ambassador states that the Foundation "will close its checkbook on all future giving to Penn," donations that have exceeded $80 million to the university and its Wharton School of Business. In

Apple Hospitality REIT Purchases Two Salt Lake City Hotels, and Their Shared Parking Garage, for $91.5 Million

Apple Hospitality REIT Purchases Two Salt Lake City Hotels, and Their Shared Parking Garage, for $91.5 Million

With the purchase of the 175-room Courtyard by Marriott Salt Lake City Downtown, the 159-room Hyatt House Salt Lake City/Downtown, and the corresponding 346-space parking garage, the Apple Hospitality portfolio now includes 222 hotels with over 29,000 rooms located in 17 states, including five properties in Utah. Richmond,

Utah-based Clene Lands a $45.1 Million, 4-Year NIH Grant that Expands Access to its ALS Drug Candidate: CNM-Au8®

Awarded in partnership with Columbia University and Synapticure, this grant provides a pathway for patients with Lou Gehrig's Disease to pursue "Compassionate Use" participation in a new Expanded Access Protocol (EAP) treatment program with Clene as amyotrophic lateral sclerosis (ALS) sufferers. In major drug discovery news

Utah's Top 9 Business "News Nuggets" from the Past Week: 1—7 October 2023

Utah's Top 9 Business "News Nuggets" from the Past Week: 1—7 October 2023

Enclosed below (in no particular order), are Utah's Top 9 Business "News Nuggets" from 1—7 October 2023 that may not have hit your radar: * Heber, Utah-based Summit Engineering Group has been acquired by Atwell, a Southfield, Michigan-based consulting, engineering, and construction services firm with over

Utah's 108-Year-Old Fassio Egg Farms is Acquired by Cal-Maine Foods, America's Largest Egg Producer

Utah's 108-Year-Old Fassio Egg Farms is Acquired by Cal-Maine Foods, America's Largest Egg Producer

We estimate that Cal-Maine Foods spent between $54.1 million and $67.0 million to acquire West Valley City, Utah-based Fassio Egg Farms, giving Cal-Maine a second base of operations in Utah (the other based in Delta). Just days after the largest egg producer in the United States announced it

As Predicted by Utah Money Watch 3 Months Ago, Qualtrics Laid-Off ~780 Employees Yesterday, ~15% of its Workforce

And to be clear, we do NOT think the changes, or employee headcount reductions, are over at Qualtrics. In a company-wide email sent yesterday, Qualtrics International's CEO, Zig Serafin, announced that the company had "made the difficult decision to eliminate approximately 780 roles across the company."