Yesterday I attended the Mountain West Venture Group annual Deal Flow lunch where the 2004 Deal Flow report was handed out. Here’s a report from the Salt Lake Tribune.
Activity is picking up in Utah, but the Deal Flow report misses a lot of early stage funding activity: Infobase Media ($1.15 million), Firepoll and SilentWhistle are three companies I’m aware of that aren’t listed in the report. I bet they miss most angel financings.
They announced the following for 2004:
5 Public Offerings = $778,462,25085 Venture Capital/Private Equity Deals = $399,448,64023 Other Fundings = $1,665,114,00038 Mergers and Acquisitions = $1,064,688,000
MountainWest Venture Group also changed its name to MountainWest Capital Network. FundingUtah.com did a poll of 181 people last fall to choose our name (we had already decided not to use Utah Angel Network due to possible confusion with the Utah Angels) and Utah Capital Network actually got the most votes. But we chose FundingUtah.com because it was #2 but got the most positive qualitative feedback from our survey participants.
So their new name is probably a good one.