Veteran Ventures Capital (VVC), a firm focused on dual-use national security technologies, has closed Veterans Fund II at $60 million, exceeding expectations. VVC-backed companies have received over $250 million in non-dilutive government funding, showcasing the firm’s practical approach.
Fund II is three times larger than the $20 million Fund I, allowing VVC to drive innovations in the defense and aerospace sectors.
Fund II has received support from institutional investors, including the Virginia Innovation Partnership Corporation and the State of Tennessee, reflecting confidence in VVC’s strategy to scale veteran-led companies and leverage government funding.
The current investments include:
1.) Agile Space Industries: A leader in in-space propulsion, backed by Lockheed Martin Ventures to enhance U.S. capabilities.
2.) Turion Space: Provides DROID satellite architecture for high-throughput non-Earth imaging, supported by over $30 million in awards.
VVC’s partners bring over a century of combined experience in military leadership and venture capital, enabling the firm to effectively identify and support crucial dual-use technologies for U.S. and allied security.
KEY QUOTES:
“VVC has consistently proven that veteran leadership at our portfolio companies paired with deep domain expertise can generate outsized returns while meeting urgent national-security needs. Our ability to marshal private capital alongside significant non-dilutive government funding creates a powerful flywheel—one that accelerates the fielding of urgent dual-use technologies and helps our portfolio companies successfully bridge the much-feared valley of death within defense acquisition.”
Derren Burrell, Founder and Managing Partner of Veteran Ventures Capital
“Our team invests with discipline, but we operate with urgency. This oversubscribed Fund demonstrates the trust LPs have placed in our investment thesis, our team and most importantly the founders we support —mission-focused leaders who are building for the frontlines, whether in orbit, at the tactical edge, or across critical infrastructure. Fund II allows us to back more of them, and with more meaningful capital.”
Josh Weed, VVC General Partner
“Our job doesn’t stop at investment. We work alongside our companies to unlock non-dilutive capital, scale defense go-to-market strategies and build resilient operations. That’s how we deliver returns, and that’s how we deliver national impact.”
Steve Kiser, General Partner
