Wasatch Venture Fund, the venture capital affiliate of Zions First National Bank, has invested $335,000 in Salt Lake-based computer accessory firm Cirque Corp.
In business since 1991, Cirque has developed a new computer pointing device that uses Cirque's GlidePoint touch-surface technology. With the Cirque track pad, a computer user moves the screen cursor by gliding a finger across the surface of the pad.The company said the device is designed to replace a computer "mouse," trackball or pointing stick currently used with computers. The device was featured on the cover of PC Magazine's "Best Products of 1994."
Wasatch Venture's Todd Stevens said the minority position taken in Cirque is the 12th venture capital investment the fund has made since it was organized in April 1994.
He said the firm focuses on early and expansion-stage companies with proprietary technology and products in sofware, communications, computer hardware, information and medical markets.
Stevens said investments in companies may range from $250,000 to $1 million. He said the fund is looking for companies "that have a proven management team and a potential for dramatic growth in sales and profitability."