Veteran Ventures Capital Announces First Close of Fund II
Investments from Virginia Innovation Partnership Corporation, State of Tennessee, and Hersh Family Investments Anchor First Close
Tysons, Virginia, June 11 - Veteran Ventures Capital (VVC) is pleased to announce the successful first close of its Fund II, reaching $25 million—half of its target raise of $50 million. This milestone, achieved in less than five months, underscores the strong investor confidence in Veteran Ventures’ thesis and execution, focusing on investing in dual-use national security technology businesses led by veteran entrepreneurs and leaders.
Veteran Ventures first close was supported by significant investments from the Virginia Innovation Partnership Corporation (VIPC) and the State of Tennessee. Additionally, the team is honored to receive continued investment and guidance from anchor investor Ken Hersh and the dedicated team at Hersh Family Investments. Their unwavering support underscores the potential and promise of VVC’s investment strategy.
Building on Success: Fund I Highlights
Veteran Ventures’ Fund II first close builds on the success of VVC Veterans Fund I. “Our inaugural fund has demonstrated the effectiveness of our investment approach, garnering over $130 million in non-dilutive government funding across our portfolio companies,” said Managing Partner Derren Burrell, “This achievement has effectively de-risked our investments, providing a strong foundation for continued growth and innovation.” Additionally, 60% of Veteran Ventures’ portfolio companies have received mark-ups, with several more anticipated in the months ahead. This performance is a testament to the hard work and resilience of Fund I portfolio companies, founded or led by veterans.
Investing in the Future of National Security
Veteran Ventures Capital is dedicated to supporting the next generation of veteran-led businesses that are developing the future technologies critical to national security. The focus on dual-use technologies ensures that portfolio investments not only benefit from the defense sector, but also have commercial applications, driving broader economic impact and opportunity.
VVC Veterans Fund II offers a unique opportunity for investors to be part of a mission-driven venture capital firm that combines financial returns with a commitment to national security. By investing in rapidly growing dual-use technology businesses led by veterans, Veteran Ventures Capital leverages the unique skills, discipline, and leadership qualities inherent in those who have served & defended the nation.
Looking Ahead
Veteran Ventures Capital will be conducting future closes through the 4th quarter of 2024, providing ample opportunity for new investors to participate in the growth underway in Fund II. With the first close of $25 million, VVC is well on its way to exceeding the target raise, already surpassing the Fund I total capitalization in record time.
“With the momentum in our second fund, Veteran Ventures Capital is well-positioned and newly recapitalized to continue its mission of supporting veteran entrepreneurs and advancing national security technology. We look forward to partnering with more investors who share our vision and commitment to build excellent companies making a meaningful impact,” said General Partner Josh Weed.
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 and hard cap of $100 million.
