InnoVentures sets aside $12M in venture capital

InnoVentures Capital Partners said Thursday that it has created a second fund with $12 million available for venture debt investment in early-stage service, manufacturing and technology companies.

The fund, UTFC Fund II, is a part of the family of UTFC funds that Salt Lake City-based InnoVentures manages. The first fund has provided investment in 55 companies since 2001.

InnoVentures is a licensed Small Business Investment Company that invests in small companies in Utah and surrounding states by providing subordinated debt to start-up and growing businesses. It provides entrepreneurial financing of up to $500,000.