Virginia State Fund VC Boosts Investments in Virginia

Virginia State Fund VC is making a significant impact in the state's economy. It has a long history of investing in Virginia-based companies, with a focus on supporting economic growth and job creation.

The fund has been actively investing in various sectors, including technology, healthcare, and clean energy. These investments have helped to create new opportunities for entrepreneurs and small businesses in Virginia.

One notable aspect of the fund's strategy is its commitment to supporting women- and minority-led businesses. This effort aims to increase diversity and inclusion in the state's entrepreneurial ecosystem.

By investing in these companies, the fund is helping to drive innovation and economic growth in Virginia.

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Virginia State University is set to receive a portion of $10.35 million from The Historic Fund, a new venture capital fund of funds.

The Historic Fund aims to bolster the endowments of Historically Black Colleges and Universities (HBCUs) like Virginia State University. This fund is the brainchild of prominent investors and operators in the venture capital ecosystem.

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The fund of funds has partnered with Virginia State University to expand its opportunities in the venture capital world for funding and employment. Historically, these opportunities have been concentrated amongst graduates of select universities.

The Historic Fund hopes to leverage its position at the intersection of the HBCU and the venture capital communities to develop programming that expands opportunities for students curious about entrepreneurship and innovation. This programming will also support administrations exploring alternative asset class strategies with their endowments.

The partnership is a unique opportunity for Virginia State University to be a limited partner without the risk of investing its assets. Instead, contributions of fundraised capital will come from partners like Acrew Capital, B Capital, Cowboy Ventures, and First Round Capital.

Robert L. Turner, Jr. Esq., Executive Director of Virginia State University's Foundation Board, sees this partnership as a tremendous asset to the university's financial future.

The Regional Innovation Fund (RIF) is a state-funded program that awards competitive grants to Virginia-based entrepreneurial support organizations (ESOs).

RIF grants provide operational and program funding for successful ESOs and ecosystem-building initiatives.

Only ESOs with a strong track record of supporting Virginia-based startups can take advantage of RIF.

ESOs must be headquartered in or maintain a significant operating presence in Virginia to be eligible for RIF funding.

Venture capital is a type of financing for startups and small businesses that comes from individual investors, firms, investment banks, and financial institutions, where ownership stake in the company is given in return for the funds.

VC investment is considered a dilutive form of funding, which means it can reduce the ownership stake of existing shareholders.

Virginia Venture Partners (VVP) is a venture capital firm that places equity investments in Virginia's leading technology, energy, life science, and scalable non-tech startups.

VVP has a family of seed and early-stage investment funds capitalized by the Commonwealth of Virginia and the U.S. Treasury Department's SSBCI Program.

The VVP Investment Advisory Board consists of leading regional entrepreneurs, angel and strategic investors, and venture capital firms, providing expertise and guidance to VVP's investment decisions.

These firms include New Enterprise Associates, Grotech Ventures, and Harbert Venture Partners, among others.

Virginia Venture Partners augments its investment team with the expertise of the VVP Investment Advisory Board, which helps to identify and invest in promising startups.

This independent, third-party panel provides a unique perspective and adds value to VVP's investment decisions.

VC investment fund managers from within and outside of Virginia can take advantage of Virginia Invests, a VIPC-led initiative that expands investment and growth opportunities for Virginia-based startups.

This program is designed to accelerate capital invested into Virginia startups, particularly those with female, black, Hispanic, Veteran, and/or rural-based founders.

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Virginia Invests is a program that expands investment opportunities for Virginia-based startups, particularly those with underrepresented founders.

VC investment fund managers from within and outside of Virginia can take advantage of Virginia Invests to expand investment opportunities in Virginia-based startups.

The investment program is designed to accelerate capital invested in Virginia startups, particularly those with female, black, Hispanic, Veteran, and/or rural-based founders.

Virginia Invests is managed by VVP and underwritten by the U.S. Treasury Department's SSBCI program.

VVP places equity investments in Virginia's leading technology, energy, life science, and scalable non-tech startups through a family of seed and early-stage investment funds.

These funds are capitalized by the Commonwealth of Virginia and the U.S. Treasury Department's SSBCI Program.

VVP Funds have committed $3M of its return for reinvestment to founders of color through the Virginia Founders Fund.

The Virginia Founders Fund shines a light on the creativity and impact of entrepreneurs arising from Virginia communities traditionally underserved by risk capital.