This story appears in the August 2025 issue of Utah Business. Subscribe.
Venture capital isn’t just for Silicon Slopes executives or Wall Street power players — it’s an industry that is being shaped by college students across Utah.
Through programs like Cougar Capital at Brigham Young University (BYU), the Wolverine Fund at Utah Valley University (UVU), Old Main Ventures at Utah State University (USU), and the University of Utah’s Sorenson Impact Institute, students are investing real money into real startups. These student-run funds offer hands-on experience in sourcing deals, performing due diligence and making investment decisions while shaping the future of Utah’s innovation economy.
“I’m a senior at UVU majoring in business analysis with a minor in finance. I transferred here from Idaho and didn’t know much about venture capital until a friend asked if I was in the Wolverine Fund. I told her, ‘I’m not — but I should be.’ After taking an intro to VC course, I applied and got in. I’ve been involved ever since.
The Wolverine Fund invests up to $25,000 in early-stage companies. We’ve had companies pitch from energy to transportation to AI — it’s really all over the place. I gravitated toward the people side of diligence: researching leadership teams, understanding their backgrounds and comparing them to competitors.
It’s definitely not like your typical classroom. It’s very hands-on and collaborative. I learned to dig into data, question optimistic projections and evaluate whether a startup was truly scalable. You have to dive deep, not just accept what’s on the pitch deck.
The program also strengthened my teamwork and communication skills. Everyone brings something different to the table, and that’s what makes it valuable. I’d recommend it to anyone who’s curious about finance or startups. It gives you real-world experience you can’t get from a textbook.” — Hannah Neilson | Wolverine Fund
“I’m a sophomore at Utah State majoring in financial economics and philosophy. I started with Old Main Ventures during my freshman year and stuck around. I help with business development, portfolio management and training analysts.
Old Main Ventures is entirely student-run and industry-agnostic. If you source a deal, you automatically lead it from first contact to final presentation. I’ve worked on deals with complex patent portfolios in dental tech, real estate and hardware. For my first investment, I led diligence on a dental startup and even interviewed dentists to understand the science behind it.
You’re thrown into the deep end, and you have to figure it out. I learned how to synthesize large amounts of conflicting information, form a defensible opinion, and navigate hard conversations with founders. You’re not just summarizing data — you’re building conviction.
What stands out most [about the program] is the culture. If you’re comfortable, you’re in the wrong place. The program constantly challenges you to think critically and work collaboratively. It’s helped me grow not just as an investor, but as a communicator and leader.” — Zara Staheli, Old Main Ventures
“I just graduated from the University of Utah with a finance degree and will be joining Goldman Sachs this summer. One of the most valuable experiences I had in college was with the Sorenson Impact Institute.
We focused on early-stage companies that created both financial and social return. We invested from two funds: one focused on startups in the Mountain West, and the other aimed at scalable companies serving underserved communities. One of the most memorable deals I worked on was a food-as-medicine startup delivering meal kits to Medicaid patients.
I learned adaptability above all. We were often thrown into deals we weren’t familiar with and had to absorb information quickly and think like investors. I also developed professionally, presenting to investment committees, managing deadlines and working with diverse teams.
On the technical side, I led financial diligence on a few deals. At first, I felt in over my head, but working closely with teammates helped me build a strong foundation in modeling and financial analysis.
What really stood out was the mentorship. We took a trip to San Francisco to meet professionals, network and learn how to pitch ourselves. The combination of impact-driven investing and real-world experience shaped how I see my career — and what kind of leader I want to be.” — Kian Crawford, Sorenson Impact Institute
“I actually chose BYU specifically so I could join Cougar Capital. I read about it in BYU Magazine back in 2011, and I just knew it was something I wanted to be part of.
Cougar Capital is part of the MBA program. You take a precursor course, and then 14 students are selected to manage the fund. We typically invest $25,000 to $150,000 in seed to Series A companies, usually in enterprise SaaS and B2B tech. We always syndicate deals — often with Utah firms like Pelion, Kickstart, Peterson Ventures and Sorenson. This year, they even did a buyout deal, which was a first.
The fund is structured like a real VC firm. We had people over sourcing, portfolio management, finance, LP outreach — it’s all student-led. I worked on multiple deals, often coordinating directly with founders and VCs. Everything I do now at Allegis Capital I learned by doing at Cougar Capital.
The mentorship was incredible. We’d sit with VC partners who helped reshape our questions and taught us how to think more strategically. It changed my life. I even extended my MBA just to take the class again. Without Gary Williams and Cougar Capital, I wouldn’t be where I am. No doubt in my mind.” — Jenn Scherbel, Cougar Capital
