Malouf Invests in Tamarak to Fuel Utah Startups

June 3, 2020  by Laurie Northington in Business Strategy, Industry   

Finalized on May 12, the deal was identified as a strategic partnership for both parties.

"Partnering with such impressive entrepreneurs who have vision, flexibility, and significant resources is so impactful. It creates a capability that will only accelerate Tamarak's growth plans as we work together to help make awesome things happen for Utah startups," said Nate McBride, partner and CFO at Tamarak.

Founded in 2016, Tamarak has a portfolio of companies in myriad growth stages and industries. In addition to providing capital to each business, Tamarak supports and mentors the companies in strategy, marketing, accounting and operations. In the words of Founding Partner Brent Hatch, "It's all about people."

Sam and Kacie Malouf bring a strong background in acquiring and growing companies, having built and acquired numerous home furnishings and technology brands that collectively generate significant revenue. Just last year, Malouf ranked No. 9 on the MountainWest Capital Network Top Revenue Growth Companies list. Tamarak Partner and CEO Keaton Hatch added, "Sam and Kacie Malouf have built a company with incredible expertise and resources. Having that expertise accessible to entrepreneurs is a massive benefit to the young companies within the Tamarak portfolio."

Known for an expansive, vertically-integrated business structure, Malouf in-house teams include distribution, sales, strategy, software development, product development, and marketing and creative—including one of the state's largest private video and photo studios.

Sam Malouf, co-founder of Malouf, shared, "Here at Malouf, we have fostered an organization that is a highly-efficient engine. By partnering with Tamarak, we are adding parts to the vehicle that will help leverage its potential. What we build together will be so much more than what we can accomplish alone.

"We are excited to foster growth within these young companies. Together we can provide more jobs, share our culture, and do more good in the Utah community. Those are the things that really get us excited," said Malouf Co-Founder Kacie Malouf.

Initially, it was the company's charitable arm, the Malouf Foundation, that drew the attention of the Tamarak partners before a potential partnership was even discussed:

"Like all good love stories, it started with insurance," McBride joked. "We had a mutual contact in the insurance industry that was hosting a charity lunch last year. We joined the lunch and Sam and Kacie presented the Malouf Foundation. It was obvious that the foundation was real to them—it wasn't just a token cause. We were really impressed and knew we wanted to learn more about them, their foundation and their company."

Now united with Malouf, Tamarak is setting its sights on helping the next generation of Utah entrepreneurs and ultimately becoming the premier seed investor in Utah. "We are creating multiple avenues to achieve our vision. Partnering with Malouf is a huge step in that direction," Hatch said.