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Upstream Ventures is a venture capital firm based in Utah, founded in 2023. The firm primarily supports founders in the Intermountain West region and beyond, focusing on what it terms 'ground zero startups.' These are pre-seed and seed-stage companies that are still validating their business models and go-to-market strategies. Upstream Ventures positions itself as a hands-on partner, engaging deeply with entrepreneurs to help them navigate the early stages of their business journey.
The firm has a diverse portfolio that spans various sectors, including AI, fintech, healthcare, cybersecurity, SaaS, and consumer products. Upstream Ventures emphasizes operational support and fundraising assistance, spending significant time with founders to build robust financial projections and prepare them for future funding rounds. The firm operates primarily in North America, with a strong emphasis on the Intermountain West.
Upstream Ventures invests in early-stage companies, specifically at the pre-seed and seed stages. The firm focuses on technology startups across multiple sectors, including AI, fintech, healthcare, cybersecurity, SaaS, and consumer products. Upstream Ventures emphasizes a hands-on approach, dedicating over 40 hours to work closely with founders to understand their business models and build financial projections that can attract institutional investors in subsequent funding rounds.
While the firm primarily operates in the Intermountain West, its portfolio includes companies from various locations, including Toronto, Madison, Miami, Palo Alto, New York City, and the UK. Upstream Ventures seeks to engage with founders very early in their journey, helping them determine the right amount of venture capital to raise and guiding them toward valuation milestones that support future financings.
Upstream Ventures has a notable portfolio that includes several innovative companies:
These companies represent Upstream Ventures' commitment to supporting early-stage startups across various sectors, particularly in technology and healthcare.
Paul Brown - Co-Founder and General Partner. Paul co-founded Upstream Ventures and previously founded and co-managed Blue Cross Blue Shield Venture Partners. He served as a managing director at Sandbox Industries and co-managed a $300 million healthcare venture capital fund practice.
Chance Murray - Co-Founder and General Partner. Chance is a co-founder and general partner at Upstream Ventures, contributing his expertise to the firm's investment strategy.
Taft Price - Co-Founder and General Partner. Taft is also a co-founder and general partner at Upstream Ventures, playing a key role in supporting early-stage startups.
In October 2025, Upstream Ventures participated in a $4 million seed round for Cylerity, a healthcare fintech company. This investment highlights Upstream's commitment to supporting innovative startups in the healthcare sector.
Upstream Ventures continues to expand its portfolio, focusing on early-stage technology companies across various sectors. The firm remains active in the Intermountain West and beyond, seeking opportunities to engage with founders at the ground zero stage.
What are Upstream Ventures' investment criteria?
Upstream Ventures focuses on pre-seed and seed-stage technology startups, particularly in sectors such as AI, fintech, healthcare, cybersecurity, SaaS, and consumer products. The firm seeks to engage with founders early in their journey, helping them validate their business models and prepare for future funding rounds.
How can I apply or pitch to Upstream Ventures?
Founders interested in pitching to Upstream Ventures should prepare a detailed presentation that outlines their business model, market opportunity, and financial projections. While specific application forms are not mentioned, reaching out through their official website is recommended.
What makes Upstream Ventures different from other investors?
Upstream Ventures distinguishes itself through its hands-on approach, spending significant time with founders to build financial models and metrics. The firm positions itself as a partner rather than a passive investor, providing operational support and guidance throughout the fundraising process.
What is the geographic scope of Upstream Ventures?
While Upstream Ventures primarily focuses on the Intermountain West region, its portfolio includes companies from various locations, including Toronto, Madison, Miami, Palo Alto, New York City, and the UK.
What is the typical check size for investments?
Specific check sizes have not been disclosed, but Upstream Ventures focuses on early-stage investments, typically at the pre-seed and seed stages.
What kind of post-investment involvement can founders expect?
Founders can expect close operational and fundraising support from Upstream Ventures, particularly around financial models, metrics, and milestones. The firm invests significant time with portfolio companies to ensure they are prepared for institutional investors and subsequent financing rounds.
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