Veterans Ventures Capital Announces $10 Million Investment from Virginia Innovation Partnership Corporation

This investment will form the basis of the $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 Virginia Innovation Partnership Corporation (VIPC). This investment powers VVC's Veterans Fund II and leads to the first closing on the fund's $50 million goal. Veteran Ventures, an early-stage venture capital firm, invests capital, along with partner expertise, networks, and energy contributions, to support veteran-led businesses that develop innovative national security technologies. . The Virginia Veteran Venture Capital Investment is specifically designed to improve capital access for veteran-led businesses within Virginia.

Virginia offers a great ecosystem for technology and entrepreneurship. With access to top veteran talent, proximity to government agencies, a strong network of technology transfer initiatives and other strategic partnerships, and a dynamic business environment, Virginia offers a strong ecosystem that supports veteran entrepreneurs building technology companies aligned with national security. Governor Yonkin has frequently stated that he wants Virginia to be the best state for military families, veterans, and veterans to live, work, and raise their families. Veteran Ventures Capital also wants to add to that list of best states for veterans to start and build their businesses. Veterans make up more than 10% of the state's adult population, making Virginia one of the states with the highest concentrations of veterans in the United States. Additionally, according to data from the U.S. Small Business Administration, Virginia is home to approximately 75,000 veteran-owned small businesses.

“We are excited to announce Virginia's investment in our second fund, which is a powerful investment for veteran entrepreneurs,” said Deren Burrell, Founder and Managing Partner of Veteran Ventures Capital. “This represents a major step forward in our mission to accelerate innovation and national security capabilities.” “This achievement is further evidence of the confidence and support our investors have in Veteran Ventures' vision, the extraordinary potential of our veteran business leaders, and our track record of investing in our first fund. ”

“VIPC is excited to partner with Veterans Ventures Capital to facilitate and leverage significant private investment in veteran-led startups and entrepreneurs in Virginia. We welcome the move to the state and look forward to VVC's engagement with veteran communities across the commonwealth,” Joe said. Mr. Benevento, VIPC President and CEO. This investment is part of his $175 million 10-year program managed by VIPC with funds provided by the U.S. Treasury Small Business Credit Initiative.

As the largest defense budget in history is being rolled out and global tensions rise, institutional investors are showing unprecedented interest in aerospace and defense technology funds. Veteran Ventures Capital's principals are leading the way at the forefront of this dynamic technology and investment environment. The team features decades of combined experience running startups and large enterprises both within and outside of the national security environment. The firm is uniquely positioned to navigate the complexities of this evolving space. Notably, the firm's Fund I portfolio companies have secured over $130 million in non-dilutive government funding to date, helping to extend the reach of their investment capital and provide further funding to early-stage companies.

Riding on the momentum of its recently announced relocation to its new headquarters in Tysons, Virginia, Veteran Ventures Capital is well-positioned for further expansion and investment. The move reinforces the firm's commitment to actively contribute to defense industrial modernization and provide funding to veteran leaders and entrepreneurs at the heart of the national security technology sector.

Since its founding in 2019, Veteran Ventures Capital has been committed to empowering veteran leaders and entrepreneurs across the country. The company focuses on dual-use national security technology, investing in the nation's most promising space, autonomy, robotics, advanced materials science, cybersecurity, quantum technology, artificial intelligence, and machine learning technology companies. It is carried out. This team will continue to leverage its extensive experience in the national security industry to shape the leading veteran-led technology company of the future.

As Veteran Ventures Capital raises its second fund and completes its first close this month, it remains 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 that supports veteran entrepreneurs and leaders working at the intersection of national security and commercial technology. The company's team only invests in companies with veteran leadership. We recognize that their military experience, training, and unwavering character translate to superior business acumen and superior risk-adjusted returns for our investors.

Founded in 2019 and currently headquartered in Tysons, Virginia, Veteran Ventures Capital supports veteran entrepreneurs across the country and leverages the team's exceptional national security industry experience to create future leading companies. We are committed to building a veteran-led commercial technology company. Veteran Ventures Capital is currently actively raising its second fund with a goal of $50 million.

For media inquiries, please contact:Craig JaquesVeteran Ventures CapitalEmail: [email protected]Phone: (808) 639-5300

Source: Veteran Ventures Capital

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