(ABC4 NEWS – PROVO, UT) Mark Bingham is always looking for his next opportunity. As I met him in his office in Provo, Utah he told me; “If anybody knows me, I’m a type-A type guy.”
The co-founder of Blue Diamond Capital LLC wakes up early each morning and comes to work with his wife Debbie, full of ideas. “It’s not just making a whole bunch of money. It’s just finding those opportunities that can create something;” he said.
Bingham learned early on that creating comes with challenges. He spent 37 years dealings with the ups and downs of publishing phone directories. He opened up cabinets and exclaimed; “We’ve got a few in here. One time back there, we had to bet the whole farm, and that was some very difficult years”
They sold their company, Phone Directories, at the right time to pursue a new opportunity. As he put it; “After they fired me, we started a company called Blue Diamond Capital.”
An investment management company worth more that half-a-billion (yes, with a “B”), Blue Diamond Capital gives entrepreneurs and developers the financial boost that they need to take their projects to the next level.
Mike Bingham, Chief Investment Officer of Blue Diamond Capital, LLC (no relation to Mark by the way) told us; “We’ve invested anywhere from a million dollars to — our largest project — is just under 15 million dollars.” He went on to point of success stories throughout Utah. Examples include Edge Homes, Sportsman’s Warehouse, construction companies, apartment complexes as well as major hotels.
The group is hard at work with the Clyde Companies on an impressive 3000 acres development in Southern Utah called “Desert Color.” We are talking 10,000 homes, commercial retail, a sports park and health care.
Mike Bingham went on to explain their strategy; “Utah, for so long, was king of this hidden secret, and we’re spreading that word. We’re going to go raise capital from New York, from Dallas, from LA, from the big money centers and we’re going to bring additional capital to Utah.”
The group also believes in giving back with philanthropic projects like cancer research and education.
Mark and Debbie stood together and expressed their philosophy; “We’ve been very blessed with what’s happened to us in our life, and we do feel that we need to pay it forward.”
Sometimes all people need is someone to give them an opportunity. Mark agrees with that statement; “That’s what we like to do is make a difference.”
With another Utah Success Story I’m Doug Jessop, ABC4 News.