From: The Venture Capitalist
To: Scott Jenkins,
Subject: WBIs "The Venture Capitalist" - Local Venture News You Can Use
Date: Mon Nov 10 22:45:56 MST 2014



What the Venture Community Reads

    November 10, 2014            

Utah / Idaho Venture News



Tolero Pharmaceuticals Completes Second Tranche of Series B Financing, Increasing Proceeds to $22.4 Million


Originally posted on


SALT LAKE CITY--(BUSINESS WIRE)--Tolero Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company developing treatments for oncology and hematologic diseases, announced today the closing of the second tranche of its Series B financing, bringing the total amount raised to $22.4 million. The round was led by Fred Alger Management Inc., with investments from other institutional and individual investors.






Maritz acquires Utah software firm, launches new tech company


Originally posted on | By Brian Feldt


Maritz Holdings, which sells incentive trips, loyalty reward and employee recognition programs, as well as market research, has bought Allegiance Software Inc., a Utah-based maker of software that helps with customer relationships. Maritz will use the acquisition to launch a new tech firm focused on customer experience.


The new company is called MaritzCX. Terms of the acquisition were not disclosed, but Maritz Holdings President Dennis Hummel said the new company would approach $200 million in annual revenue.






Damon Kirchmeier Joins EPIC Ventures as a Director


Originally posted on


EPIC Ventures today announced the appointment of Damon Kirchmeier as a Director. Kirchmeier will play a lead role in identifying and funding promising early-stage companies.


“Damon and EPIC have collaborated on projects for more than 10 years and knowing his extensive background in early-stage investments, we could not be more excited to have him join the EPIC team,” said Kent Madsen, a Managing Director of EPIC Ventures. “Damon has shown an impressive ability to guide a company financially, operationally and strategically, and adds substantial strength to our team.”




Venture Profile



Qualcomm Ventures is the venture capital arm of Qualcomm and is based in San Diego, California.  The firm seeks to invest in companies operation in the communication devices, wireless communications, infrastructure, wireless internet, energy, healthcare, semiconductor, and media sectors.




Cooperative Venturing Network®

People You Should Know


Damon Kirchmeier



Damon Kirchmeier has 17 years’ experience investing in early stage companies including Jive Communications, InGeo, Listen Technologies, Cerberian, and CarbonX.


Prior to joining EPIC Ventures, Damon was the President of a fast growing action sports distribution company, Rockwell Time, USA and a partner at Auxano Funding, a revenue based finance fund in Salt Lake City. He is the past Managing Director for InnoVentures Capital Partners. He originally joined the predecessor to InnoVentures, the Utah Technology Finance Corporation, in 1997. In 2001, he and his two partners founded InnoVentures and raised a private venture capital fund. Since that time, he has made more than 40 different investments over two funds and actively participates on several corporate boards. Damon is a frequent speaker on raising capital and is an active participant in several business and venture forums.


Damon began his career in 1988 at Westinghouse Electric Corporation in the Bettis Atomic Power Laboratory. Mr. Kirchmeier served as a nuclear plant engineer and later managed a crew of Naval personnel and civilian engineers at a dual reactor plant. He also managed the support division of an international exploratory drilling company before founding InnoVentures.


Damon is a member of two angel investment groups, the Utah Angels and Park City Angels and also holds silver and bronze medals from the Masters World Championships of mountain biking. Damon is also the past Honorary Commander of the 421st fighter squadron – the Black Widows.


Upcoming Venture Community Events


Idaho's first WBI pitch event



​WHEN: November 20th, 2014 from 8:30am-11:30am


WHERE: Zions Bank,  Idaho Room, 17th Floor

              800 W Main Street

              Boise, Idaho                  




Baseline, Inc.


BiologiQ, Inc. 


GenZ Technologies


Silverback Learning Solutions





Kent Thomas - WBI Angels


Phil Grimm - SLC Angels


Daniel Appel - Peak Venture Capital


More to come.....







Title Sponsor:





WBI - Alumni Financing Events and News


Financing Events


Company: OtoKinetics

Location:  Salt Lake City, Utah


Description:  OtoKinetics engages in the development of hearing aid devices 


Amount Raised: $1.5m

Date: Q2 2013


Alumni in the News


If you're an alumni company and have news that you'd like us to share here, please email the editor at



If you are an Alumni Company and you have Press Releases on financing events, new product launches, or milestones celebrations; please email us a link to the news and we will include it here. 


WBI - Sponsor News





If you are a Sponsor and you have Press Releases, corporate events, organizational news you would like us to share here; please email us a link to the news and we will include it. 



(C)2014 The Wayne Brown Institute





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In This Issue



Upcoming VC Events

Utah Life Science
Summit 2014
November 15th, 2014
Grand America Hotel
IDAHO - Deal Forum
November 20, 2014
Zions Bank, 17 Floor
Boise, Idaho
6th Annual Utah IT Symposium

November 20th at the Salt Lake City Marriott Downtown.


31st Annual Investors Choice Venture Capital Conference February 12, 2015 


Angel Investor News


7 technical risks every startup investor should be aware of


Originally posted on | By Vasiliy Soloshchuk & Vitaliy Koval


Implementing a startup project, regardless of its nature, is associated with a number of risks that need to be taken into consideration. When a project is implemented properly, these risks can be efficiently curbed by the startup founders during the different stages of the project lifecycle.


Statistically, more than 20% of all the risks technology projects are derailed by are associated with a startup’s technical implementation, and not the erroneous selection of the market niche, or how innovative their product or service offering is.




Will Higher Thresholds on Angel Investing Hurt Business?


Originally posted on | By Angus Loten and Adam Janofsky


With the rich getting richer, many more entrepreneurs are turning to affluent individuals, known as “angels,” for capital to expand their nascent businesses.


Angels put $24.8 billion of their own money into 70,730 U.S. businesses in 2013, for instance, 41% more than the $17.6 billion they put into 57,225 businesses in 2009. Meanwhile, Americans’ wealth hit new records during the first quarter of 2014, thanks to higher stock prices and real-estate values.




VC Industry News


VCs Get With the Programmer: Investment in Software Tools Rises


Originally posted on | By Christopher Zinsli


Venture capitalists are investing in tools to help programmers do their jobs better, with an enthusiasm not seen since the dot-com era.

Nineteen U.S. startups working on software-development tools raised $235.1 million in the third quarter, the most in any quarter since 2000, according to data from Dow Jones VentureSource.






What happens the day after the accelerator program ends?


Originally posted on


Watching momentum go to waste is not pleasant. Having been an advisor to many startup companies in Israel, I can say that it is very difficult to watch startup companies finish accelerator programs and fail to utilize the various programs’ assets.

Several easy steps will allow you to take advantage of the experience, knowledge and connections the accelerator programs provide.





Utah - Student-run venture capital fund empowers and supports students


Originally posted on  | By Keri Lunt Stevens


In charge of a $500,000 venture capital fund, a group of 10 students from Utah universities are trying to find and fund the best entrepreneurs on local campuses.


As investment associates for Campus Founders Fund, they meet weekly to hear pitches from students and then collectively decide whether or not to fund them.




Crowdfunding News


Tackling The Crowdfunding Credibility Gap: A Q&A With Dropkicker


Originally posted on | By Natasha Lomas


As crowdfunding has scaled up so too have some of the problems inherent with firing unconditional cash at people whose main selling point might just be their madcap idea. The big names of the category, the Kickstarters and Indiegogos, would argue that’s the beauty of crowdfunding. People donating unconditional cash to someone else’s dream, however incredible (or otherwise) it may be.




Articles of Interest


Top 20 US Cities for Tech Startup Funding


Originally posted on


When you think of tech startups, you probably think Northern California. Companies there receive the largest share of funding from venture capitalists, but there are several other notable pockets around the country.


In the first nine months of the year, venture capitalists poured $24 billion into tech startups around the country. About half of that funding went to San Francisco and Silicon Valley, according to the National Venture Capital Association.




….and see how Utah Rates



2H 2014 PE & VC Fundraising & Capital Overhang Report


Originally posted on


PitchBook has released 2H 2014 PE & VC Fundraising & Capital Overhang Report, which examines U.S.-based fundraising for all types of private equity and venture capital funds, including buyout, growth, restructuring, energy and mezzanine. The report also looks at the amount of dry powder PE and VC investors currently have available to invest. Trends are examined through several lenses, such as fund size, vintage year and time spent fundraising.





The Venture Capital Investment Syndicate Heat Map


Originally posted on


We mapped the investment syndicate relationships of over 120 of the most active venture capital and corporate venture capital investors to see which firms are close to one another and which ones are not.




Feel Good Monday


Great uplifing stories to start the week out with.






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