Veteran Ventures Capital (VVC) announced the successful first close of its Fund II, reaching $25 million—half of its target raise of $50 million. This milestone was achieved in less than five months and highlights the strong investor confidence in Veteran Ventures’ thesis and execution, which focus on investing in dual-use national security technology businesses led by veteran entrepreneurs and leaders.
The first close was supported by significant investments from the Virginia Innovation Partnership Corporation (VIPC) and the State of Tennessee. And 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.
Plus, 60% of Veteran Ventures’ portfolio companies have received mark-ups, with several more anticipated in the months ahead. And this performance is a testament to the hard work and resilience of Fund I portfolio companies, founded or led by veterans.
Veteran Ventures Capital is dedicated to supporting the next generation of veteran-led businesses developing future technologies critical to national security. The focus on dual-use technologies ensures that portfolio investments benefit the defense sector and have commercial applications, driving broader economic impact and opportunity.
VVC Veterans Fund II provides investors with a unique opportunity to join 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 utilizes the unique skills, discipline, and leadership qualities inherent in those who have served and defended the nation.
KEY QUOTES:
“Our inaugural fund has demonstrated the effectiveness of our investment approach, garnering over $130 million in non-dilutive government funding across our portfolio companies. This achievement has effectively de-risked our investments, providing a strong foundation for continued growth and innovation.”
- Managing Partner Derren Burrell
“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.”
- General Partner Josh Weed
