The Utah Capitol Investment Corporation is an independent quasi-public corporation created in 2003 to organize and operate the Utah Fund of Funds to make venture capital fund investments (Utah Code §63M-1-1207). The Utah Fund of Funds is a $300 million State of Utah economic development program aimed at providing access of alternative or non-traditional capital to Utah entrepreneurs. The Utah Fund of Funds will not invest money into any company or individual but rather will invest in venture capital and private equity funds that commit to establishing a working relationship with the Utah Fund of Funds, Utah's start-up and business community and commit to making investments in qualifying companies. The Utah Fund of Funds will invest in venture capital and private equity funds located both in Utah and outside Utah.