InnoVentures Raises $12M Venture Debt Fund
Salt Lake City, Utah-based InnoVentures, a Small Business Investment Company (SBIC) that provides venture debt to early stage firms, said Thursday morning that it has raised a $12M second fund for venture debt investments. The company said the fund is available for investment in early-stage service, manufacturing, and technology companies. InnoVentures asid the fund is part of the UTFC funds, which the firm has been managing since 2001; InnoVentures was previously known as UTFC. InnoVentures typically invests less than $500K in subordinated debt to small companies. Venture debt is typically used by companies as a bridge to a traditional venture round, or as a short term loan, and usually includes a warrant and interest obligations rather than equity.
posted on Thursday, January 24, 2008
Related companies:
InnoVentures Capital Partners
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