TLDR:
Tandem Ventures, a venture capital firm based in Utah, has announced the first close of its debut $30 million fund. The firm will primarily invest in early-stage technology companies in Utah and plans to invest in companies at the pre-seed, seed, and series A stages. Tandem Ventures has quickly grown since its founding in 2022, with the addition of experienced entrepreneurs and investors to its team. The firm is unique in its partnership with successful founders in Utah, which aims to share expertise and foster growth in the tech sector.
Key Points:
- Tandem Ventures announces the first close of its $30 million early-stage venture fund
- The firm will primarily invest in Utah-based technology companies at the pre-seed, seed, and series A stages
- Tandem Ventures has grown quickly since its founding in 2022, adding experienced entrepreneurs and investors to its team
- The firm’s unique partnership with successful founders in Utah, called the “Stable,” aims to foster growth in the tech sector
Tandem Ventures, a venture capital firm based in Utah, has announced the first close of its debut $30 million fund. The fund will primarily invest in early-stage technology companies in Utah at the pre-seed, seed, and series A stages. Over the last 15 months, Tandem has already invested $30 million via Special Purpose Vehicles (SPVs) and plans to continue leveraging SPVs to invest in later-stage companies alongside its early-stage fund.
Tandem Ventures was founded in 2022 by Managing Partners Alex Bean and Mckay Dunn and has quickly grown with the addition of Partners Jimmer Fredette and Zac Kerr. The firm is a unique combination of experienced entrepreneurs and investors who have an intimate understanding of the Utah startup ecosystem.
One key differentiator for Tandem Ventures is its partnership with successful founders in Utah, referred to as the “Stable.” This group is composed of Unicorn founders, who have built billion-dollar businesses, and Centaur founders, who have built $100 million+ businesses. The “Stable” aims to share their expertise with the next generation of founders and foster growth in Utah’s tech sector.
Managing Partner Alex Bean, the co-founder of Divvy, brings operational expertise and first-hand knowledge of building a billion-dollar business. Mckay Dunn has traditional VC and asset management experience from previous roles, while Jimmer Fredette has deep ties in the Utah community and has been actively involved in growing Utah since his time at BYU. Zac Kerr is a co-founder of Utah-based SalesRabbit and has been an active angel investor with a strong track record.
Tandem Ventures and its Stable of partners are committed to enabling the innovation economy of Utah, fostering growth, and making a lasting impact in Utah’s tech landscape.
