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Portal-Tek Gets $200K In Debt

Salt Lake City, Utah-based Portal-Tek, a developer of an off-road axle for the automotive industry, has received $200,000 from venture debt provider InnoVentures Capital Partners, InnoVentures said Tuesday. According to InnoVentures, the funding came from its UTFC Fund II, and will be used to support Portal-Tek's rapid growth and development. The funding came in the form of subordinated debt.