The Investment Anchors $50 Million VVC Veterans Fund II
TYSONS, Va., May 22, 2024 /PRNewswire/ — Veteran Ventures Capital (VVC) has secured a significant $10 million institutional investment from the Virginia Innovation Partnership Corporation (VIPC). This investment fuels VVC’s Veterans Fund II, anchoring a first closing towards the Fund’s $50 million target. Veteran Ventures, an early-stage venture capital firm, invests its capital alongside its partners’ contributions of expertise, network, and energy in support of veteran-led businesses developing innovative dual-use national security technologies. Virginia’s investment into Veteran Ventures Capital is specifically targeted at improving access to capital for veteran-led companies within the Commonwealth of Virginia.
Virginia offers a terrific ecosystem for technology and entrepreneurship. With access to top-tier veteran talent, proximity to government agencies, a strong network of tech-transfer initiatives and other strategic partnerships, and a dynamic business environment, Virginia provides a powerful ecosystem to support veteran entrepreneurs building national security-aligned technology companies. Governor Youngkin has often said he wants Virginia to be the best state for military families, veterans, and retirees to live, work and raise a family. Veteran Ventures Capital also aspires to add to that list the best state for veterans to found and build a business. Veterans account for over 10% of the adult population in the state, making Virginia one of the highest concentrations of veterans in the U.S. Further, according to U.S. Small Business Administration data, there are nearly 75,000 veteran owned small business in Virginia.
“We are thrilled to announce Virginia’s investment in our second fund, marking a significant leap forward in our mission to empower veteran entrepreneurs and accelerate technological innovation and national security capabilities,” stated Derren Burrell, Founder and Managing Partner of Veteran Ventures Capital. “This achievement provides further evidence of the confidence and support our investors place in Veteran Ventures’ vision, the exceptional potential of veteran business leaders, and the firm’s investment track record in our first fund.”
“VIPC is excited to partner with Veteran Ventures Capital to catalyze and leverage significant private investment into Virginia’s veteran-led startups and entrepreneurs. We welcome VVC’s new HQ move into Virginia and look forward to VVC’s engagement with veteran communities throughout the commonwealth,” said Joe Benevento, President and CEO of VIPC. The investment is part of a $175 million ten-year program administered by VIPC with funds provided by the U.S. Treasury State Small Business Credit Initiative.
As the largest defense budget in history unfolds and global tensions escalate, institutional investors are showing unprecedented interest in aerospace and defense technology funds. The principals at Veteran Ventures Capital lead at the forefront of this dynamic technology and investment landscape. What distinguishes the team is their collective experience earned over decades operating start-ups and large companies in or around the national security landscape. The firm is uniquely positioned to navigate the complexities of this evolving sector. Notably, their Fund I portfolio companies have secured over $130 million in non-dilutive government funding to date, magnifying the impact of their deployed investor capital and helping to further fund their early-stage companies.
Building upon the momentum of their recently announced relocation to the firm’s new headquarters in Tysons, Virginia, Veteran Ventures Capital is well positioned for further expansion and investment. This move solidifies their commitment to actively contribute to defense industry modernization and to fund veteran leaders and entrepreneurs in the heart of the national security technology sector.
Since its inception in 2019, Veteran Ventures Capital has demonstrated a commitment to empowering veteran leaders and entrepreneurs nationwide. The firm’s dual-use national security technology focus leads them to invest in the most promising space, autonomy and robotics, advanced materials science, cyber security, quantum tech, artificial intelligence, and machine-learning technology companies in the nation. The team continues to leverage its extensive national security industry experience to shape the leading veteran-led technology companies of the future.
As Veteran Ventures Capital raises its second fund finalizing its first close this month, they remain dedicated to delivering exceptional value to investors while championing the transformative potential of veteran leadership in innovative national security technology companies.
About Veteran Ventures Capital:
Veteran Ventures Capital is a veteran-owned growth-equity investment firm empowering veteran entrepreneurs and leaders working at the nexus of national security and commercial technology. Their team invests exclusively in companies that have military veteran leadership; recognizing their military experience, training, and unwavering character translates into exceptional business acumen and superior risk-adjusted returns for investors.
Founded in 2019, Veteran Ventures Capital is now headquartered in Tysons, Virginia, and remains committed to empowering veteran entrepreneurs nationwide and leveraging the team’s extraordinary national security industry experience to shape the leading veteran-led commercial tech companies of the future. Veteran Ventures Capital is now actively raising its second fund with a target of $50 million.
For media inquiries, please contact:
Craig Jaques
Principal, Veteran Ventures Capital
Email: [email protected]
Phone: (808) 639-5300
SOURCE Veteran Ventures Capital
