Frazier Fund I
- Frazier VC
- Feb 13
- 4 min read
Updated: 2 days ago
Lehi Utah — Frazier Venture Capital is pleased to announce the successful performance of Frazier Fund I, a $15.4 million fund launched in 2015, which has delivered a 25% net internal rate of return (IRR) and a 3.0x net multiple to limited partners. The fund is now 99% realized, underscoring the firm’s disciplined investment strategy and consistent execution.
Frazier Fund I was built on a clear thesis: identify early-stage companies with strong leadership teams, scalable business models, and products that solve real problems for real customers. By focusing on high-potential opportunities—particularly in SaaS, infrastructure, and enabling technologies—Frazier VC was able to partner with founders early and support them through critical growth stages.
“Our goal has always been to back exceptional teams and give them the space to execute,” said David Frazier.
With nearly full realization, Fund I demonstrates Frazier VC’s ability to not only identify promising companies but also support them through liquidity events, follow-on rounds, and strategic growth milestones. The fund’s portfolio includes a number of category-defining companies across enterprise software, fintech, consumer brands, and infrastructure platforms.
This performance further reinforces Frazier VC’s position as a leading venture capital firm in Utah, with a proven track record of backing companies that go on to become market leaders.
As Frazier VC continues to deploy capital from subsequent funds, the firm remains focused on its core principles: backing strong teams, investing in scalable platforms, and maintaining a long-term commitment to founders.
Portfolio Highlights
Below is an overview of companies backed by Frazier Fund I, each representing a unique example of early conviction and growth potential.
Alliance Health built online communities and engagement tools centered on specific health conditions. Its platform combined condition-specific social networks, educational content, and digital engagement tools designed to help patients navigate chronic conditions while giving healthcare organizations and marketers a way to reach highly targeted patient audiences.
Cradlepoint delivers cloud-managed wireless edge networking solutions that power mission-critical connectivity for businesses and public sector organizations. The company became a leader in 4G and 5G networking, enabling distributed enterprises to stay connected anywhere.
Domo is a cloud-based business intelligence platform that allows organizations to visualize, analyze, and act on their data in real time. Its intuitive dashboards empower decision-makers across the enterprise to drive faster, data-informed outcomes.
Galileo provides a powerful API-driven banking platform that enables fintech companies to build and scale modern financial products. The company has become foundational infrastructure for digital banking, powering some of the most innovative fintech brands.
GitHub is the world’s leading software development platform, enabling millions of developers to collaborate, build, and deploy code. The company revolutionized how software is created and shared, ultimately leading to its acquisition by Microsoft.
Goal Zero designs portable solar and energy storage solutions that allow people to power devices anywhere, from outdoor adventures to emergency preparedness. The company has built a strong consumer brand centered around energy independence and sustainability.
HireVue transforms the hiring process through video interviewing, assessments, and AI-driven insights that help companies identify top talent faster. Its platform enables organizations to streamline recruiting while improving candidate experience and quality of hire.
InfusionSoft (Keap)
InfusionSoft, now known as Keap, provides CRM and marketing automation software tailored for small businesses. The platform helps entrepreneurs streamline sales and marketing efforts, enabling them to grow efficiently.
Jive Communications offers cloud-based VoIP and unified communications solutions for businesses seeking flexible, scalable communication tools. The company’s platform modernizes business phone systems with enterprise-grade features at accessible pricing.
SaltStack delivers intelligent automation software for IT operations, enabling organizations to manage infrastructure at scale. Its event-driven automation platform improves security, compliance, and operational efficiency across complex environments.
Sidewalk built software and services for college campuses and campus bookstores focused on textbook rentals, affordability, and content distribution. Over time, the company expanded from a direct-to-student rental model into a broader platform that helped campus stores run rental programs, improve pricing transparency, and compete more effectively in the higher education content market.
SilencerCo is a leading manufacturer of firearm suppressors and accessories, known for innovation and engineering excellence. The company has played a significant role in advancing suppressor technology and expanding consumer awareness in the market.
SOASTA built cloud-based testing and digital performance management software used to help enterprises test websites, mobile apps, and digital experiences at scale. Its platform became known for load testing, performance monitoring, and real-user experience tools designed to help large organizations understand how applications performed under real-world conditions.
SpinGo built software for event creators, promoters, and publishers, combining event discovery, event marketing, ticketing, and management tools into a single platform. The company initially gained traction through an events engine that powered calendars for media and publishing partners, then expanded into broader event software and services.
Stance is a lifestyle apparel brand known for its bold designs and high-performance socks, apparel, and accessories. The company has built a strong following by blending creativity, culture, and comfort into everyday essentials.
TruHearing partners with health plans to provide affordable hearing care solutions and access to high-quality hearing aids. Its network-based model improves accessibility while lowering costs for patients.
Venafi specializes in machine identity management, helping organizations secure and manage digital certificates and cryptographic keys. Its platform plays a critical role in cybersecurity by protecting enterprise infrastructure from evolving threats.
Workfront provides enterprise work management software that helps organizations plan, execute, and track work across teams. The platform enhances collaboration and productivity, ultimately leading to its acquisition by Adobe.
