Ryan Van Wagenen and the Silicon Slopes

The Hi Tech Gazette reports of Ryan Van Wagenen of Cottonwood Heights and the big movement that is happening out in the “Silicon Slopes” in the western part of the United States.This region is definitely on the way up and throughout the Wasatch Mountains, the state is definitely seeing some growth!  This growth is leading to unique business opportunities that Mr. Van Wagenen is very impressed with.

 

Silicon Slopes Tech Summit

Once a year, the state is privileged to have a conference to celebrate the state’s expansion in technology. This two to three day conference is new and a direct product of all the recent growth over the past decade.Ryan Van Wagenen describes this conference as a way for those tied to technology in the state to rub shoulders. In recent years, Van Wagenen describes the conference as having a different mood with a lot more excitement!

Mr. Van Wagenen’s Role within Global Private Equity

Ryan Van Wagenen joined Global Private Equity nearly a decade ago after spending the first three years of his career with Citi Trends in the firm’s operations team. His role within Global Private Equity started more general and morphed to an advisor covering the technology sector. In 2011, when Van Wagenen was promoted to Director within the firm, he was left to sole technology coverage and was put in charge of running the team’s diligence and execution efforts.

Technology Shift Coming from Silicon Valley to Silicon Slopes

From the capital down south to the “point of the mountain,” there has been a dramatic growth in both new business and growth throughout the state. The California Bay Area has seen some of its growth move to less expensive pastures.  From the standpoint of the companies benefiting from less state taxes as well as comparable candidates for the jobs at lower wages, the Silicon Slopes offer a better opportunity for employers. Employees greatly benefit from lower cost of living and less personal income taxes as well. Not to mention these young professionals also benefit from being minutes away from the slopes. All of this combined has led the way to companies like Goldman Sachs, Adobe, Intel, and others opening offices throughout the Wasatch.

Private Equity and Other Investors Entering to Invest in the Slopes

 As more startups and seasoned companies are adding jobs throughout the state, there is unquestionably been a flow of more capital coming in to take part in the growth and all the potential upside. The local business journal forecasts a sharp increase in deal flow, with expectations being conservatively taken from 25+ private equity firms currently registered in the state. With this growth, this year could be the most boisterous year in the history of the state. The deal range is typically in the $5-20 million range, although most private equity firms have capacity to do deals that would exceed these ranges. In addition, investor sentiment and confidence in the local community is at all time highs according to Zions Consumer Attitude Index. The state seems to have nothing but greener pastures ahead and the community is excited for what is to come.