March 12, 2013

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Banyan Ventures Celebrates 10 Years

Press Release

March 12, 2013

Bayan Ventures, a Salt Lake City-based venture-building company, is celebrating its 10th anniversary and is actively looking for new venture opportunities, qualified operating partners and capital partners. The firm targets investments from $500,000–$2 million.

“We have watched competing firms exit the market or modify their methodologies to try to keep up in this economy,” said Darin Gilson, a Banyan Managing Director. “Our business model is different and it works.”

Banyan invests in and grows early-stage companies with revenues of less than $10 million into valuable and sustainable businesses. The current Banyan portfolio includes six Utah-based companies: MobilityRE, a technology company that develops mobile device applications for real estate professionals; Rev-It Logistics, a provider of delivery, warehousing, and logistic services; Chapman Innovations, the manufacturer of CarbonX protective fabrics and apparel; Savvi, an online and mobile merchant discount network; Metro Ready Mix, a concrete supplier for residential and commercial construction along the Wasatch Front; and Palo Verde, a real estate investment company that owns more than 50 properties in Phoenix, Arizona.

Banyan was founded in 2003. The Banyan team includes managing directors Darin Gilson, Tyler Thatcher, and John Dunn; operating partner Scott Jorgensen; and chief financial officer Carl Crosser.

Banyan closed its first committed fund, Banyan Fund I, in November 2011. Banyan Fund I was created to allow the firm ready access to capital to accelerate business creation and development. Prior to establishing this committed fund, Banyan procured investment capital on a project-by-project basis.

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