Utah-based venture capital firm Peak Ventures announced a third fund of $75 million on Oct. 24. The fund is its largest to date and the firm changed its name to Album VC.
Firm leaders felt it was necessary to change the name because another venture capital firm also had “peak” in its name. The new name was inspired by the creative and collaborative processes involved in investing and how that process mirrors the work of musicians creating a new album, Album VC general partner John Mayfield said.
Image: Five team members of the newly named Album VC, left to right, Sid Krommenhoek, John Mayfield, Lisa Thomas, Steve Hale and Diogo Myrrha, look forward to collaborating with new companies in Utah and elsewhere after announcing their third funding of $75 million. (Preston Crawley)
