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The Utah Fund of Funds, a state economic-development program, has received a $20 million line of credit from Zions Bank.
The credit line is the second round of financing that Zions has provided to the agency.
It provides Utah Fund of Funds with more capital to fuel economic growth while the agency waits for financial markets to thaw, Director Jeremy Neilson said.
The agency invests in venture capital and private equity firms, which in turn consider making investments in promising Utah companies.
Thirty seven companies have received capital via the agency, creating over 2,000 jobs, according to a statement issued earlier this week.
Paul Beebe
