The Utah Capital Team

Bret Jepsen, Managing Director

Bret Jepsen was hired in September 2013 to lead the company’s investment and economic development strategies. Mr. Jepsen was most recently a principal with the highly successful investment firm Northgate Capital. He has over 13 years of private equity and venture capital experience and was Acting Director of Venture Capital, Small Buyout and Emerging Market investing for the San Francisco Employees’ Retirement System (SFERS). While at SFERS, Bret established a portfolio of several top-tier, oversubscribed venture capital funds, served on several advisory boards, and created a secondary program designed to enhance returns by acquiring less-risky, pre-identified private equity assets. Bret has spoken regularly at industry events including the IBF Venture Capital conferences, Merrill Lynch Private Equity CFO Conference, ICBI Super Return China Conference, University Venture Fund SuMit and Silicon Valley SDForum. Prior to his employment with SFERS, Bret worked at Connecticut-based Portfolio Advisors, LLC, where he helped build and monitor private equity programs for various foundations and pensions. Bret also gained direct investment experience while working for Dominion Ventures. Bret received his BA from Brigham Young University and an MBA from Northwestern’s Kellogg School of Management, where he co-authored a case study on the private equity secondary industry.

Richard Pugmire, Director, LP Capital Advisors

Richard Pugmire, CFA is a Director in the Client and Advisory Services group of LP Capital Advisors based in Salt Lake City, Utah. Prior to joining LP Capital Advisors in 2008, Mr. Pugmire spent four years at Ford Motor Company, where he focused on pension asset management within the treasury group. Prior to joining Ford, Mr. Pugmire spent a year at the University Venture Fund evaluating venture capital investments and three years at Harris Investor Services. Mr. Pugmire received an MBA and a B.S. in Finance (with honors) from the University of Utah and is a CFA Charterholder.

Ryan Davis, Chief Financial Officer

Ryan Davis is the CFO at the Utah Fund of Funds where he oversees accounting and reporting functions for the funds and the management company. He is also employed as the CFO of Epic Ventures and is the V.P./Venture Capital Controller at Zions First National Bank. Ryan is also a consultant for the University Venture Fund where he initially developed the financial preparation and reporting system currently in use. Previously Ryan was CFO at an international marketing company, and controller for a travel company. He started his career with the international accounting firm KPMG. Ryan received his Bachelor of Science degree in Accounting, cum laude, and a Master of Accountancy and Information Systems from Brigham Young University.