Copyright Salt Lake Tribune Jan 12, 2004
1. Describe the University Venture Fund and how it got started.
The University Venture Fund (UVF) is a university-based venture capital organization designed to provide students with real-life experience as venture capitalists. Students who become associates in the fund commit at least 20 hours a week and have the accountability they would have with an internship or part-time job.
UVF partners with about 20 professional private equity firms. Associates research companies alongside the professionals for potential investments. These partnerships give associates the opportunity to evaluate real-time deal flow, provide value-added research, assist in the decision-making process, and create and manage a venture portfolio within UVF by co-investing with these professional partners.
2. What is the UVF's primary goal? How does it contribute to the education of the next generation of business leaders?
The fund is an effective way to teach students about entrepreneurship. UVF gives its students an edge through real-world experience, a valued skill set and a network to begin a career. UVF performed research on 75 companies last year and 35 of them received capital to grow their businesses. The exposure to successful businesses leads to opportunities for students to join these companies or start their own.
In addition, UVF hopes to have an impact on the local economy by donating the majority of its profits to student scholarship programs and drawing interest from national capital markets to Utah.
3. UVF on Wednesday through Friday will hold the University Private Equity Summit in Salt Lake City. Describe the event and how it relates to UVF's goal.
In the spirit of promoting collaboration among universities emphasizing entrepreneurship, UVF will play host to a three-day, student-focused private equity summit. One hundred fifty students traveling from 30 universities nationwide will have the opportunity to hear from keynote speakers and panelists, engage in workshops, and attend social events. Investment firms attending are the best in the industry.
This will be an opportunity for seasoned investment professionals to share their knowledge and sentiments about the world of private equity with a group of students eager to learn the business.
4. What are some of the outcomes you expect from the summit?
We hope this will be the beginning of a close relationship with similar programs at other universities and even those that hope to create such programs. We plan to continue the conference each year. Jared Hutchings, managing director of the University Venture Fund.