Data Report · Fund Formation by State · Sep 2025 to Aug 2026
Venture Fund Formation in Utah: 56 Funds Filed (Sep 2025 to Aug 2026)
56 venture funds filed a Form D from a Utah address in the twelve months to August 2026, 0.61% of every US venture fund filing in that window. Every figure here is computed from the filings themselves.
Written by Michael Kaufman · Reviewed against our editorial standards · Updated
Quick Answer
Between September 2025 and August 2026, 56 venture capital funds filed a first Form D from a Utah address, out of 203 pooled-fund filings from the state and 9,169 venture filings nationwide. That is 0.61% of US venture fund formation and ranks Utah 13th among the states. The 30 filings that named a dollar target are seeking $1.59B combined, with a median target of $6.4M and a largest single target of $500M; 26 filings declared an indefinite or undisclosed target and are excluded from both figures. 56 of the filings (100%) came from issuers with no earlier filing anywhere in the warehouse. Busiest month: Jun 2026 with 14 filings; quietest: Dec 2025 with 1. Figures as of September 15, 2026.
Key Takeaways
- 1.Utah recorded 56 venture fund filings in the window, 13th nationally and 0.61% of the 9,169 filed across the country.
- 2.Venture funds were 27.6% of all 203 pooled-fund filings from Utah, against 42.6% nationally.
- 3.The 30 filings naming a target are seeking $1.59B combined; the median is $6.4M and 26 filings named no amount at all.
- 4.56 filings (100%) came from first-time vehicles, and 21.4% of the state's venture filings carry series-vehicle names, against 65.6% nationally.
- 5.Lehi accounts for 23.2% of the state's venture filings (13 of 56).
56
venture fund filings from Utah addresses
13th nationally, 0.61% of the 9,169 filed nationwide
$1.59B
combined disclosed target offering
across the 30 of 56 filings that named a dollar target
$6.4M
median disclosed target
largest single target $500M
56
first-time fund vehicles
100% of the state's venture filings came from an issuer with no earlier filing on record
Month by Month: Venture Fund Filings from Utah
Filings are counted by SEC filing date. Peak month Jun 2026 at 14, low month Dec 2025 at 1.
- Sep 20254 venture
- Oct 20255 venture
- Nov 20255 venture
- Dec 20251 venture
- Jan 20262 venture
- Feb 20265 venture
- Mar 20265 venture
- Apr 20269 venture
- May 20261 venture
- Jun 202614 venture
- Jul 20262 venture
- Aug 20263 venture
The data does not explain why any month moved the way it did. Form D records that a filing happened, its target and its address. A month-to-month change in these counts is a change in filing behaviour, and nothing in this dataset attributes it to a cause.
The Largest Venture Targets Filed from Utah
Ranked by disclosed target offering, across the whole window. “Sold at filing” is the amount reported sold as of the Form D date: a fund showing $0 has not reported sales yet, it has not failed to raise.
| # | Fund | Target | Sold at filing | City | Filed |
|---|---|---|---|---|---|
| 1 | Elevation Capital IX LP | $500M | $500M | Park City | Jul 14, 2026 |
| 2 | Sorenson Capital Partners V, L.P. | $300M | $0 | Lehi | Apr 9, 2026 |
| 3 | BancTech Ventures II, LP | $150M | $0 | Sandy | Oct 6, 2025 |
| 4 | Album Ventures V, L.P. | $150M | $0 | Lehi | Jun 24, 2026 |
| 5 | Album M SPV, L.P. | $75M | $0 | Lehi | Feb 23, 2026 |
How Utah Compares
Utah holds 0.61% of US venture fund filings, which is 13th of the 26 states with enough filings to publish. An even split across those states would be 3.85% each, and the median state in this series filed 13 venture funds against Utah’s 56, a factor of 4.3.
Inside the state, venture funds were 27.6% of the 203 pooled-fund filings recorded, against 42.6% nationally. The median disclosed target was $6.4M, against $520K across all US venture filings in the same window.
Read the count with the address in mind. Lehi carries 23.2% of the state’s venture filings (13 of 56), and 21.4% of those filings carry series-vehicle names of the “a series of” or “Series 12” form, against 65.6% nationally. Form D reports the issuer’s principal-place-of-business address, which for a fund is often a legal, administrative or platform address rather than where the manager sits. A high concentration in one town, paired with a high series share, means the count is measuring deal vehicles filed through a platform rather than distinct firms raising funds.
Methodology
Source. Public SEC EDGAR Form D filings, collected by VC Beast’s daily automated ingest into our Form D warehouse (coverage 2024-07-01 through 2026-09-15). Figures on this page are as of September 15, 2026.
Scope. Industry group 'Pooled Investment Fund', original filings only (amendments excluded). Venture filings are those whose Form D investmentFundType is 'Venture Capital Fund'. The window is the twelve full months from 2025-09-01 to 2026-08-31, and filings are bucketed by SEC filing date.
Form D reports the issuer's principal-place-of-business state, which for a fund is often a legal or administrative address rather than where the manager sits. Delaware's count in particular reflects vehicles administered at their Delaware domicile address.
Form D discloses a target offering amount (frequently 'Indefinite') and the amount sold as of the filing date. Neither equals final closed fund size, and they are reported separately here.
First-time vehicles are issuers (by SEC CIK) with no earlier filing anywhere in the warehouse (coverage begins 2024-07-01). Each fund vehicle files under its own CIK, so this measures first-time vehicles, not first-time management firms.
Filings are bucketed by SEC filing date, not by fund close or first sale.
Which states get a page. A state gets a page only when it recorded at least 12 venture fund filings in the window — roughly one a month. Below that the monthly series is mostly zeroes and the medians rest on a handful of filings, so the state is excluded from both the route params and the sitemap rather than published thin. 26 states and territories cleared it; 25 did not and have no page.
Reproducible. Every figure on this page is regenerated by node scripts/reports/generate-state-fund-formation.mjs, and the California count is cross-checked against a direct count query on each run. Corrections: our corrections page.
Work the numbers
The filings above are what other managers did. These run the same math on your own fund.
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The same data, month by month
This page is the twelve-month view for one state. The monthly VC Filings Report covers every state at once, with the largest raises and the first-time managers behind them.
Cite this report
Free to quote, chart and all. An attribution link is all we ask.
VC Beast, Venture Fund Formation in Utah, Sep 2025 to Aug 2026, from SEC Form D filings, published September 15, 2026, https://vcbeast.com/reports/fund-formation/utah
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Sources & References
- 1.SEC Form D filings via VC Beast's daily EDGAR ingest(Primary data source: original Form D filings from SEC EDGAR)