VETERAN VENTURES CAPITAL (VVC) aims to invest near-term at least $3MM in Tennessee-based businesses led by U.S. military veterans, with emphasis on early-stage companies offering dual-use technologies for both national security and commercial customers.
The $3MM target for Tennessee is a direct result of a limited partner commitment the company previously received from Tennessee Technology Development Corporation dba Launch Tennessee, under the SSBCI-backed InvestTN program. VNC research shows Virginia's SSBCI program made a similar commitment.
Earlier this week, VVC announced the final close of its $60MM Fund II. The fund's first close at $25MM occurred in May 2024. They had closed their $20MM Fund I in 2019.
VVC was registered in Delaware in 2017 and in Tennessee in 2018 by Founder and Managing Partner Derren Burrell, a veteran of U.S. military and national security and dense sectors. LinkedIn. VVC Team.
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| Paul Woolard |
Franklin, Tenn.-based VVC Partner Paul Woolard, 59, told Venture Nashville his firm is acutely aware of the historic and now seemingly resurgent role of Tennessee cities in discovery, development and commercialization of technologies for use by the national defense, homeland security and other sectors.
VVC's targeted sectors and segmens include Space; Counter-unmanned aircraft systems (c-UAS, think drones), Quantum, Robotics, Edge computing, Material sciences, and Cyber.
Woolard cited numerous defense- and security programs spawned at Vanderbilt University and at Oak Ridge National Laboratory as but two indicators of Tennessee's relevance to security and defense. Related Venture Nashville coverage here.
Woolard said VVC's earlier decision to establish its presence in McLean, Va., across the Potomac from D.C., has brought sustained dealflow, but VVC has made only one Defense-Security investment in Tennessee: Franklin-based HavenLock, which today says on its website that its HAVEN offering is the only Department of Homeland Security-approved locking platform. Related VNC coverage.
Woolard said U.S. Veteran entrepreneurs are invited to VVC's next meet-and-greet, Sept. 30, 4pm-6pm, at Nashville Glasshaus. Veterans may register by messaging Woolard via his LinkedIn profile.
By the time it reached first close, Fund II had already invested in two companies:
Irvine, Calif.-based Turion Space, which is described as "Enhancing space domain awareness through non-Earth imaging, while offering innovative solutions to maneuver and mitigate debris damage in space."
Agile Space Industries, which focuses on in-space chemical propulsion solutions, with its offering featuring "Vertically integrated propulsion design, manufacturing, integration and test facilities." Agile has locations in Durango, Colo. and Mt. Pleasant, Pa.
VVC's 11 other defense-security-oriented portfolio companies are based in Alisa Viego, East Aurora (N.Y.), El Segundo, Hawthorne (Calif.), Las Vegas, Norristown (Pa.), North Kingstown (R.I.), Reston, San Leandro, Syracuse, Washington D.C.
Earlier press releases from VVC are here. VNC coverage here. VNC
. Last updated 1045 19 August 2025
