TLDR:
- Veteran Ventures Capital successfully closed Fund II, raising $25 million out of a $50 million target.
- The fund focuses on investing in national security technology businesses led by veteran entrepreneurs.
Veteran Ventures Capital Announces First Close of Fund II
Veteran Ventures Capital (VVC) has reached a significant milestone with the successful first close of its Fund II, securing $25 million, half of its target raise of $50 million in less than five months. The fund’s strategy centers on investing in dual-use national security technology businesses helmed by veteran leaders.
The first close of VVC General Partnership Veteran Ventures Fund II was bolstered by investments from the Virginia Innovation Partnership Corporation, the State of Tennessee, and anchor investor Ken Hersh and Hersh Family Investments.
VVC’s Fund II builds on the achievements of their Veterans Fund I, which garnered over $130 million in government funding across its portfolio companies and saw 60% of companies receiving mark-ups. This success highlights the potential for growth and innovation in VVC’s investments.
Veteran Ventures Capital remains dedicated to supporting veteran-led businesses that are developing critical technologies for national security. By focusing on dual-use technologies, the fund aims to have both defense and commercial applications, driving broader economic impact.
Looking ahead, VVC plans to conduct future closes through the 4th quarter of 2024. With $25 million already raised, the fund is on track to exceed its target raise and continue its mission of supporting veteran entrepreneurs and advancing national security technology.
For media inquiries, contact Craig Jaques, Principal at Veteran Ventures Capital, via email: [email protected]
