Veteran Ventures Capital reports on fund and portfolio companies progress
Veteran Ventures Capital (VVC) recently provided an update on its eight existing portfolio companies along with information about two start-ups that will soon be added to the mix.
VVC Founder and Managing Partner Derren Burrell wrote in an email that the companies “continue to solidify our investment thesis: veteran-led companies outperform competition in their sectors. We have exciting developments to share on select portfolio companies and are in advanced due diligence with several additional companies, maintaining strong momentum with the deployment of capital into Q2.”
In his email, Burrell provided updates on two of the eight companies.
- Haven, VVC’s first investment, captured the Electronic Security Expo’s (ESX) “Innovation Award for 2022″ during a mid-June event in Fort Worth, TX. ESX recognizes outstanding products and services that drive the electronic security and life safety industry forward. Haven was recognized in the “Access Control/ID Systems” category this year for its IQ Lockdown product, a high-strength Z-Wave enabled smart lock for commercial and government applications. The award was shared with partner Johnson Controls International.
- SEE ID won the most recent “StartUpNV.” By coming out on top against 250 competitors at the event in Nevada, the start-up secured a $200,000 grant from StartUpNV and also filled out its SAFE (simple agreement for future equity) note by securing another $150,000 from local angel investors. The company also kicked off its installation at Mountain Home Air Force Base in early June and is officially tracking equipment across the base. This pilot project is being closely tracked by the Air Combat Command and promises to lead to considerably more installations across the U.S. Air Force.
Burrell also said that the two pending additions are:
- Phase Four that is building the next generation of in-space mobility through the design and manufacturing of electric propulsion solutions for small satellites. The company’s new propulsion architecture realizes lower cost, mass manufacturability, miniaturized power electronics, and propellant agnosticism over incumbent technologies.
- Night Vision Technology Solutions(NVTS) that is creating innovative and cost effective electro optical infrared thermal cameras for defense and commercial markets. With ground and maritime thermal camera systems, NVTS has paired analytics and internal sensors for specific range requirements and budgets, providing compatible, state-of-the-art night vision for new and legacy maritime and ground-based platforms.
Knoxville-headquartered VVC is a veteran-owned growth-equity investment fund focused on military entrepreneurs. It interacts exclusively with companies that have military veteran leadership, recognizing the value of military experience, training, and character in business operations.