Ollin Ventures Research
Investment Thesis
Ollin Ventures is a Utah-based pre-seed and seed fund (the "Atom Fund") built around what it calls Asset-Backed AI. The firm's view is that foundation models will commoditize and that software alone is no longer a moat. It looks for companies that own something a model cannot generate: proprietary data, real-world distribution, hardware, intellectual property, regulatory clearance, or physical infrastructure. Its homepage tagline is "Backing what tomorrow can't replace."
The thesis has three pillars. First, Asset-Backed AI as the durable-value filter. Second, the Utah ecosystem: Ollin argues Utah leads US states in unicorn production per VC-backed startup, and that every major Utah fund has moved upstream into Series A and later, leaving an opening at pre-seed. Third, revenue velocity: AI-native companies reach meaningful revenue faster than prior cohorts, and speed to revenue is treated as one of the strongest predictors of survival and follow-on fundability.
Stage Focus
Pre-seed and seed. The firm describes itself as institutional pre-seed capital. Portfolio data from third-party trackers shows pre-seed rounds (for example Nyad, a reported $1.3M pre-seed in March 2026) and seed rounds (Spot Parking, June 2026).
Check Size
A March 2024 announcement of a $20M pre-seed and seed fund described checks of $250,000 to $750,000 into roughly 50 Utah County startups, with an explicit index-like approach to venture. Fund I was reported closed in February 2026 (secondary aggregator snippet, not verified on the firm's own site).
Lead Tendency
Not stated. Cap-table roles are not disclosed on the site. The Managing Partner describes first-check positions (first investor in Continuum, sourcing Eradivir at pre-seed with a board observer seat), but lead versus follow behavior is unverified, so it is recorded as unknown.
Recent Activity
- Ask Elephant was acquired in part by Fullcast (technology and customer assets), September 2026.
- Roam was granted a US patent for physical-AI wellsite technology, August 2026.
- Data Quality added HawkPartners as the first consulting firm in its quality network, July 2026.
- Eradivir dosed its first patient in a Phase 2 influenza study (EV25, Bangladesh), July 2026.
- Vamo was profiled for its refrigerated last-mile delivery growth, January 2026.
- Continuum's VR title UG became one of Meta Quest's top-grossing games, January 2026.
- Third-party trackers list recent rounds in Nyad (March 2026) and Spot Parking (June 2026).
Portfolio Highlights
The homepage shows a logo wall of 20 legible companies, described as a selected portfolio: Continuum, Eradivir, Hoth, Ask Elephant, Tarifflo, Carespace, Data Quality, Harmonious, Stratus, Vamo, ReferPro, Alta Water, Roam, Manzano Systems, NeuroNova, SignGlasses, Spot, Link-X, T1C and Backswing. A handful of additional logos on the page have no legible caption and were not added. The portfolio spans VR gaming (Continuum), biotech (Eradivir), sales and revenue software (Ask Elephant), cold-chain logistics (Vamo), oil and gas physical AI (Roam), assistive hardware (SignGlasses), and consumer products (Alta Water). The firm's own disclaimer says the listed companies are not a complete list of investments, and trackers report roughly 49 investments in total. Chase Nielsen's bio claims Eradivir has grown from a $15M to a $1B+ valuation since his pre-seed sourcing.
Team
- Thomas Wilkinson, Co-Founder and Managing Partner: BYU mechanical engineering; at Vivint he helped drive $50M+ in revenue and a $3B+ exit. Angel investor since the late 2010s; first investor in Continuum and early backer of Monovo. Founded Ollin in 2018. Leads sourcing and diligence.
- Stephen Smith, Co-Founder and General Partner: BYU economics; Charles Schwab, then advisor at Navigate Private Wealth ($500M AUM). Leads fund management and deal flow.
- Brady Harris, General Partner: Former CEO of IXOPAY and Dwolla, President of Payroc; 14+ acquisitions. Focuses on the $10M to $200M revenue stage to help portfolio companies scale.
- Chase Nielsen, Senior Associate: BYU applied statistics; sourced Eradivir at pre-seed and sits as board observer.
- Jack Tolman, Associate: Built Ollin's AI-powered deal evaluation stack.
- Chris Cooper, Investment Committee Advisor and Brian Murphy, LPAC member.
Decision Process
Partnership with an investment committee that includes outside advisors. Decision timeline and warm-intro requirements are not published; the site offers a contact form, a general inbox ([email protected]) and a data room for founders.
Founder Preferences
Founders building defensible, asset-backed businesses with fast revenue traction, with a strong preference for Utah (especially BYU and UVU) founders. The team positions itself as operators who have founded, scaled and exited companies, and emphasizes help with go-to-market, IP, hiring and capital raising.
Geographic Focus
Utah, with an emphasis on Utah County. Headquartered in Provo (the 2024 article lists Lindon). Some portfolio companies operate elsewhere, for example Vamo in Chattanooga, Tennessee, and Eradivir with trials in Bangladesh.
Gaps
Exact fund size, current AUM, lead/follow behavior and decision timeline are not confirmed from first-party sources. Courtney Cashdollar appears on the team page but her role was not retrievable.