More Growth Capital For Utah Small Businesses

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InnoVentures Targets New $20 Million Fund

InnoVentures is raising capital for its third fund because the positive economic prospects for 2013 make this a good time to raise capital. “We received notification from the SBA that InnoVentures Capital Partners has been preliminarily approved for the Fast Track application process for a license as a Small Business Investment Company”, stated Steve Grizzell, Managing Director of InnoVentures.

An improving economy has created more demand for products and services from Utah small businesses. Businesses need working capital to support their growth and InnoVentures can supply that money.

“The banking industry, including Utah’s industrial banks actively seek out opportunities to support Utah small businesses,” said Howard Headlee, President of the Utah Banker’s Association. He went on to say the banking industry has supported InnoVentures twice before.

This will be the third time that InnoVentures has partnered with commercial and industrial banks to create a source of capital for small businesses. Past investors include Morgan Stanley, American Express, Zions Bank, Wells Fargo Bank and Key Bank.

The InnoVentures team consists of three veterans of small business finance, Steve Grizzell, Scott Stenberg and Eric Petersen. Their varied experiences allow them to bring critical expertise to growing businesses.

About InnoVentures
InnoVentures ( is located in Salt Lake City and provides growth capital to innovative small businesses in Utah and the western region. It provides loans from $25,000-$1,000,000.

If you’d like more information, or to schedule an interview with Steve Grizzell, please call him at 801 741-4215 or email Steve at

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Steve Grizzell
801 741 4200
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