Airplanes, milk and radioactive waste have never looked this good — at least to Peterson Partners, a Salt Lake-based $300 million equity fund, whose investments have created thousands of new jobs and turned small companies into major hitters.

You could call Peterson Partners an entrepreneur's best friend.

In the 10 years since the fund launched, it has been a key investor for more than 40 companies, including JetBlue Airways, Winder Farms and EnergySolutions.

Finding the next great company is what Joel Peterson, the firm's founder, has made his life's passion. He jokingly refers to his portfolio companies as "his children," unwilling to single out any favorites.

"I don't want anybody to read this and say, 'Why didn't they mention me?' " Peterson said. "What gets us excited about what we do is finding these great entrepreneurs, these great business ideas and helping them get to a place that they might not otherwise get.

"I have worked with entrepreneurs my whole life. I like backing entrepreneurs. I like the energy that entrepreneurs have. I like to figure out ways to add value to their businesses."

Peterson teaches a course on entrepreneurship at Stanford Business School and holds an MBA from Harvard University. Before founding Peterson Partners, he was the managing partner at Trammell Crow Co., one of the world's largest commercial real estate service companies.

Peterson Partners sets a high standard for companies it invests in, beginning with the chief executive officer.

Jordan Clements, the firm's managing partner since 1995, said ideal companies all have one thing in common: a talented and visionary leader at the helm.

"We look first to the quality of the leader," Clements said. "We've looked at the companies that have been successful. We've looked at the companies that haven't been successful. So much of it comes down to the leader. And yet it's no one personality type. Really what it comes down to is what we call issues of the head and the heart."

Take JetBlue Airways founder David Neeleman. Peterson calls Neeleman a "serial entrepreneur."

"He's done deal after deal, and I think that will be his whole life, starting new businesses," Peterson said. "He's a visionary. He spots opportunity. But he's also a person with enormous empathy. His people love him, and he really cares about them and they feel that. They sense that. He's able to motivate people to get things done that they might not otherwise do."

Peterson Partners was part of the first group of investors in JetBlue, investing $2.5 million. Neeleman's high character, solid business judgement and strong work ethic were convincing qualities that have carried JetBlue as it has become one of the nation's premier airlines, Peterson said.