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Venture Capital
FINANCE | Investment Firms & Funds
vspring.com

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Investments

141

Portfolio Exits

27

Funds

7

About vSpring Capital

vSpring Capital makes seed and early-stage investments in information technology and life sciences companies. The firm also invests in later stage companies under special circumstances. vSpring's industry focus areas are biotechnology and pharmaceutical companies that can capture significant market share in an emerging, high growth market with a proprietary product, technology which is defensible over time. These opportunities include genomics, proteomics as well as enabling technologies employed in drug discovery, synthesis, screening and delivery. Information technology and networking companies that can capture significant market share in a relatively large, high growth market as a result of a proprietary technology, product, or service. vSpring focuses on companies that are developing credible business models that are likely to lead to profitable operations. Other areas of including those with regional activity which might include: wireless, telecommunications, infrastructure, Linux, multimedia and information management.

vSpring Capital Headquarter Location

2795 E. Cottonwood Pkwy Suite #360

Salt Lake City, Utah, 84121,

United States

801.942.8999

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Latest vSpring Capital News

Follow Deseret News on Twitter Follow Deseret News on Facebook vSpring, Signal Peak merge venture capital firms, may raise fund in 2013 - Deseret News

Feb 1, 2019

Deseret News Share this story Brandon Tidwell Signal Peak Scott Petty Signal Peak Salt Lake City — vSpring Capital, one of Utah's largest venture capital funds, will merge with Signal Peak Ventures to invest in regional companies. The combined firm, which will keep the Signal Peak name, will manage $450 million of committed capital, partners Dinesh Patel and Ron Heinz said in an interview yesterday at their Cottonwood Height's offices. The firm may look to raise a new investment fund of $150 million to $200 million in 2013. Partners at the firm will include Patel, Heinz, vSpring's Scott Petty and Signal Peak's Brandon Tidwell. They will each equally split ownership. VSpring managing director Ed Ekstrom will become a venture partner and work with portfolio companies. By joining, the firm can pull from a larger pool of limited partners who invest money. "If we're successful there are a lot of people who will want to invest in our ongoing success," Heinz said. Before the merger, VSpring had $400 million of committed capital, investing in about 45 companies while Signal Peak had $50 million over 10 companies. The partners typically invest $5 million to $12 million in companies and look to own 15 percent to 20 percent at exit, Patel said. Potential investments typically will be found within a one or two hour flight including Utah, Colorado, New Mexico and Arizona. "We're working with four really strong partners who have a lot of depth in the market." Heinz said about the new team. Business in the Backyard Looking forward the state has several areas to invest in, the partners said. Heinz said he likes software as a service businesses because they can scale globally and information security companies such as South Jordan-based Solera Networks. Patel, who has a PH.D. in physical pharmacy, said there is a lot of talent in the medical device sector, which is now becoming more innovative. The merger signals an end to the vSpring firm name in Utah. It began with five partners, including Patel, Petty, Ekstrom, Greg Warnock and Paul Ahlstrom. Since then Warnock left to become managing director at Mercato Partners and Ahlstrom left to found Alta Ventures and Alta Growth Capital in Mexico. "We wanted to have a fresh new name," Patel said. "We could have come up with another name. Why go through all that hassle?" Heinz said the intermountain region has an "expanding base of entrepreneurs." "You combine that with what has been great innovation and great technology - as far as the type of software engineers we have, the type of people in the medical field that have always been innovators - I think that is really going to bode well for the state over the next couple of decades," he said. The V100, which tracks venture entrepreneurs, will maintain its name, Patel said. Signal Peak was founded last year from Canopy Venture's venture capital team. Next Up In Business

vSpring Capital Investments

141 Investments

vSpring Capital has made 141 investments. Their latest investment was in Carmell Therapeutics as part of their Series B - III on January 1, 2018.

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vSpring Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/10/2018

Series B - III

Carmell Therapeutics

$0.44M

No

Pittsburgh Life Sciences Greenhouse

2

10/3/2017

Series B - II

Carmell Therapeutics

$1.97M

Yes

Harbor Light Capital Partners, Innovation Works, and Pittsburgh Life Sciences Greenhouse

2

2/8/2012

Series E

Lingotek

$2.4M

Yes

1/11/2012

Series D

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$99M

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10

12/22/2011

Series D

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$99M

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0

Date

1/10/2018

10/3/2017

2/8/2012

1/11/2012

12/22/2011

Round

Series B - III

Series B - II

Series E

Series D

Series D

Company

Carmell Therapeutics

Carmell Therapeutics

Lingotek

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Amount

$0.44M

$1.97M

$2.4M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Pittsburgh Life Sciences Greenhouse

Harbor Light Capital Partners, Innovation Works, and Pittsburgh Life Sciences Greenhouse

Sources

2

2

10

0

vSpring Capital Portfolio Exits

27 Portfolio Exits

vSpring Capital has 27 portfolio exits. Their latest portfolio exit was Lingotek on January 21, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/21/2021

Acquired

$99M

2

8/24/2020

Acquired

$99M

4

9/19/2019

IPO

$99M

1

6/11/2018

Acquired

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$99M

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10

9/12/2017

Acquired

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10

Date

1/21/2021

8/24/2020

9/19/2019

6/11/2018

9/12/2017

Exit

Acquired

Acquired

IPO

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

4

1

10

10

vSpring Capital Acquisitions

1 Acquisition

vSpring Capital acquired 1 company. Their latest acquisition was Avinti on September 13, 2002.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

9/13/2002

Series B

$99M

$0.78M

Acquired

Date

9/13/2002

Investment Stage

Series B

Companies

Valuation

$99M

Total Funding

$0.78M

Note

Acquired

Sources

vSpring Capital Fund History

7 Fund Histories

vSpring Capital has 7 funds, including KickStart Seed Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

5/14/2010

KickStart Seed Fund

Early-Stage Venture Capital

Closed

$6M

1

10/31/2009

vSpring III LP

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$99M

10

12/1/2008

vSpring Capital II Side Fund

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$99M

10

5/31/2006

vSpring Partners II

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$99M

10

11/26/2005

vSpring Capital II LP

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$99M

10

Closing Date

5/14/2010

10/31/2009

12/1/2008

5/31/2006

11/26/2005

Fund

KickStart Seed Fund

vSpring III LP

vSpring Capital II Side Fund

vSpring Partners II

vSpring Capital II LP

Fund Type

Early-Stage Venture Capital

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Status

Closed

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Amount

$6M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

vSpring Capital Team

5 Team Members

vSpring Capital has 5 team members, including current Controller, Travis Heath.

Name

Work History

Title

Status

Paul B. Ahlstrom

Founder

Current

Ed Ekstrom

Founder

Current

Dinesh Patel

Founder

Current

Greg Warnock

Founder

Current

Travis Heath

Controller

Current

Name

Paul B. Ahlstrom

Ed Ekstrom

Dinesh Patel

Greg Warnock

Travis Heath

Work History

Title

Founder

Founder

Founder

Founder

Controller

Status

Current

Current

Current

Current

Current

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