UA2 Angel Network
UA2 Angel Network is a company.
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Financial History
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Leadership Team
Key people at UA2 Angel Network.
UA2 Angel Network is a company.
Key people at UA2 Angel Network.
Key people at UA2 Angel Network.
UA2 Angel Network, also known as Utah Angels 2 (UA2), is an angel investment group based in Provo, Utah, focused on funding and accelerating early-stage startups.[2][3] Founded in 2013 as a continuation of the broader Utah Angels tradition dating back to the mid-1990s, UA2 provides capital in the $1-5 million range per deal, typically joining rounds with 3-4 participants, and emphasizes sectors like software, human resources, social media, social networks, and recruiting.[1][2][4] Its mission centers on delivering not just funding but also competency, mentorship, resources, guidance, and strategic connections to help entrepreneurs scale, having supported Utah's startup ecosystem for over 15 years with a lean activity of under 2 deals per year and peak performance in 2015.[3][4]
UA2's investment philosophy prioritizes startups aged 4-8 years with valuations around $3-10 million, often co-investing with groups like Kickstart Seed Fund, SLC Angels, Park City Angels, and later-stage players such as Quake Capital Partners.[1] Notable portfolio examples include EmployeeReferrals.com in HR and recruiting, contributing to Utah's vibrant tech scene by bridging seed to growth stages and fostering local innovation.[1][3]
UA2 emerged in 2013 as Utah Angels 2, building directly on the Utah Angels legacy that began in the mid-1990s.[1][2][4] The group formed in Provo, Utah, amid a growing regional startup ecosystem, evolving from decades of angel investing, mentoring, and advising high-potential entrepreneurs.[3][4] Key partners include a membership of experienced investors drawn from Utah's business community, though specific names are not detailed in available records; the focus has consistently been on early-stage companies needing both capital and directional guidance.[2][3]
Its evolution reflects a targeted approach: from general Utah Angels activities to UA2's structured model of 0.25 rounds per year, with high activity in 2015 and a portfolio of just 2 known investments, emphasizing maturity (average startup age of 8 years at investment).[1] This backstory humanizes UA2 as a homegrown network nurturing Utah's "best and brightest" through creative solutions and long-term commitment.[3][4]
UA2 stands out in the angel investing landscape through these key strengths:
UA2 rides the wave of Utah's "Silicon Slopes" boom, a trend of tech hubs emerging outside coastal epicenters, fueled by low costs, talent from universities like BYU (near Provo), and a family-friendly entrepreneur culture.[1][2] Timing matters as angel networks like UA2 filled gaps in the 2010s when VC funding consolidated; their 2013 launch and 2015 peak aligned with Utah's startup surge in SaaS, HR tech, and social tools amid remote work and digital hiring shifts.[1][3]
Market forces favoring UA2 include Utah's high density of bootstrapped founders and co-investment synergies, influencing the ecosystem by mentoring local talent and bridging to institutional capital, as seen in follow-ons from Quake and Kickstart.[1] This sustains a virtuous cycle, positioning Utah as a seed-stage powerhouse that exports scalable companies nationwide.[4]
UA2's disciplined, low-volume approach positions it well for Utah's maturing ecosystem, likely expanding into AI-driven HR, social platforms, and software amid rising demand for efficient recruiting tools post-2025 economic cycles.[1] Trends like decentralized angel syndicates and hybrid mentorship models will shape its path, potentially increasing deal flow via digital platforms while leveraging its 30-year heritage for deeper operating support.[3][4]
As Utah's tech influence grows globally, UA2 could evolve into a pivotal feeder for unicorns, amplifying its role from regional nudge to national accelerator—echoing its core promise of turning ideas into scaled realities with competency and connections.[2][3]
