SALT LAKE CITY — Philo Ventures announces the launch of its inaugural Sandbox Fund, a $3M fund dedicated to backing the most promising startups emerging from the Sandbox tech accelerator operating at university campuses across Utah. The fund will support 30+ student-led teams over the next three years, writing checks at the pre-seed stage as the “first believer, first money in.” Already, the Sandbox Fund has invested in eight high-growth startups that are showing rapid traction, early markups, and impressive momentum—proof that Utah’s youngest founders are building companies with real market validation from day one.

In major venture markets like San Francisco, university ecosystems often have built-in funding pathways – both informal and formal – that help student founders turn ideas into companies. Utah’s ecosystem has matured rapidly in recent years, but for many student entrepreneurs, that earliest bridge—from classroom to capital—has remained thin.

“Sandbox, and now Philo’s Sandbox Fund, are designed to complement Utah’s thriving venture community,” said Scott Evanson, Venture Partner at Philo Ventures and Managing Director of the BYU Sandbox program. “We’re adding a new entry point for student founders—helping more of them get their first shot at building real companies here in Utah.”

The Sandbox program, founded by Chris Crittenden and operational at universities including BYU, UT Tech, and UVU, gives students hands-on experience in building real tech startups. The Sandbox program has shown tremendous impact; the first 4 Sandbox cohorts have launched companies cumulatively valued at over $200M, with eight teams admitted into Y Combinator, the world’s most selective startup accelerator.

Why Now, Why Utah

Utah’s startup ecosystem is thriving at the seed and growth stages, but first-time, pre-seed founders remain underserved. The Sandbox Fund fills this gap for student teams by providing the funding needed to continue driving traction and team buildout as they succeed within Sandbox and beyond.

“The Sandbox Fund is about more than just capital deployment,” said Cory Cozzens, Philo Ventures Co-Founder and Studio Managing Partner. “It’s about supporting young entrepreneurs, broadening access to capital, and helping reinvent the relationship between education and entrepreneurship.”

Extending Philo’s Zero-to-One Mission

For Philo Ventures, the Sandbox Fund is a natural extension of its zero-to-one focus. Philo’s venture studio acts as an institutional founder, leveraging codified best practices and a dedicated team to launch several new startups each year. “Zero-to-one is our passion,” Cozzens added. “This fund lets us meaningfully extend the impact of that passion and expertise beyond the walls of Philo’s office.”

The fund has already backed startups including Stratus, Interval, and Buster. Looking ahead, Philo anticipates raising additional Sandbox-focused funds, allowing for ongoing support of the Sandbox program and the ability to continue investing in the most promising companies as they grow. “This first fund is an important start,” Evanson said. “As Sandbox expands across campuses, we intend to scale our capital alongside it, creating a durable pipeline of startups fueling Utah’s innovation economy.”

About Philo Studio

Philo Ventures is a venture studio and investment firm building early-stage companies across technology, real estate, and hospitality. With a focus on zero-to-one execution, Philo partners with founders to turn bold ideas into thriving businesses. https://www.philoventures.studio/

About Sandbox

Sandbox is a year-long, immersive program integrated into students’ degree paths. Participants replace up to 18 credits of their senior year with full-time startup building, creating venture-scale companies with peers and mentors instead of taking traditional classes. Sandbox also offers a Fellowship track for postgraduates, where founders build full-time for 12 months and receive a master’s degree. https://web.sandbox.ing/