Veteran Ventures Capital leadership team. Photo: VVC

Veteran Ventures Capital (VVC) has closed a $60 million fund for investment in dual-use national security technologies, with space as a key focus. The firm noted that oversubscribed Fund II is triple the size of its inaugural $20 million, Fund I. 

VVC, founded in 2019, is a veteran-owned investment firm with a leadership team with experience in military command, defense acquisition, and venture investing. VVC cited the opportunity for Fund II amid record defense budgets and a surge in aerospace and defense IPOs and mergers and acquisitions. 

Investors in Fund II include the Virginia Innovation Partnership Corporation, the state of Tennessee, and university endowments, along with Hersh Family Investments, prominent family offices, and wealth management firms. 

The fund is focused on core sectors of space, counter-unmanned aerial systems (UAS) autonomy, quantum sensing, robotics, edge computing, AI/ML, and cyber. Fund II has already deployed capital into in-space propulsion company Agile Space Industries and Turion Space, which builds satellites for non-Earth imaging and space domain awareness.

“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,” said Josh Weed, VVC general partner.