Wasatch Advisors closes on new fund

Salt Lake-based Wasatch Advisors Inc. on Thursday announced the final closing of its new venture capital fund, Cross Creek Capital, at $111 million of committed capital. The original goal was $100 million.

Cross Creek Capital seeks to provide late-stage venture capital funding for private companies with significant return potential that are expected to go public within three years.

Wasatch Advisors said Cross Creek Capital may invest in companies in all economic sectors, with specific focuses on the technology, health-care and consumer sectors. Typical investments will range from $1 million to $5 million and will be made as part of a new or existing syndicate.