Founded in 2006 by Ned Stringham, 42 Ventures invests between $250,000 and $1.5 million in companies that already have products and customers, with a focus on software-as-a-service, mobile software, artificial intelligence, and big data sectors. The firm takes a unique approach by leading with management experience, not capital, and investing its own capital supplemented by funds from a close circle of highly experienced business colleagues. 42 Ventures prefers to invest in narrower, more highly-defined markets where they have experience and relationships that can have a real impact on company success. The firm operates from its base in Salt Lake City and has portfolio companies in Utah, Arizona, Texas, and North Carolina.