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Alumni Ventures Empowers Veteran-Led Companies in Diverse Portfolio

MANCHESTER, NH / ACCESSWIRE / November 10, 2023 / According to the U.S. Small Business Administration (SBA), there are nearly 2 million veteran-owned businesses in the United States. These businesses collectively employ over 5 million Americans and contribute an astounding $1.3 trillion to the nation's economy annually.

Alumni Ventures regularly leverages its funds' alumni affinities and network of 600k+ community members and subscribers to source investment opportunities and has a variety of veteran-led companies in its diverse portfolio.

The U.S. Army

Sustainment, co-founded by Bret Boyd and Michael Morford, offers a cutting-edge software as a service (SaaS) platform. This innovative solution connects manufacturing vendors and U.S. machine shops with enterprise customers. By incorporating algorithm-based matching, encryption protocols, and semi-autonomous sourcing techniques, Sustainment streamlines sourcing processes, enhancing vendor and customer efficiency. In 2021, Congress Avenue Ventures, an Alumni Ventures fund catering to the University of Texas at Austin community, contributed a $2.1 million seed round investment to support the growth of Sustainment. Alumni Ventures and Blackhorn Ventures co-invested in this round. Unless Partners led a subsequent $12 million Series A in 2022. These investments have bolstered Sustainment's mission to revolutionize the manufacturing industry through advanced technological solutions.

Another veteran-led company with venture funding from Alumni Ventures is HawkEye 360. This company, led by CEO John Serafini, operates a commercial satellite constellation dedicated to radio frequency (RF) data analytics. HawkEye 360 unveils previously uncharted activities across land, sea, and air by identifying, processing, and geolocating a broad range of RF signals. HawkEye's powerful analytical products solve complex challenges for global customers, making significant strides in data intelligence.

The U.S. Marines

Virdee, founded by Branigan Mulcahy, specializes in virtual reception and customer engagement software. Its platform simplifies access and authentication experiences for residents, visitors, and property staff. Virdee's mobile application and in-lobby experiences automate front-of-house workflows, saving time and reducing friction, enhancing user experience. The company's innovative approach was profiled on Alumni Ventures' AVTV, a platform showcasing portfolio companies and their stories to the community.

The U.S. Air Force

Radian Aerospace has developed space systems tailored for passenger travel to low Earth orbit and back. Radian is committed to providing commercial and government customers with easy and affordable access to orbital space planes, addressing the growing demand for cost-effective transportation solutions in the evolving low-Earth orbit economy. A variety of Alumni Ventures funds participated. Bascom Ventures, a fund for the University of Wisconsin community, Purple Arch Ventures, a fund for the Northwestern community, and Lakeshore Ventures, a fund for the University of Chicago community, played a pivotal role in Radian's journey by investing capital in the company's $27.5 million seed round.

The U.S. Navy

Terradepth, co-founded by Joe Wolfel, is a data-as-a-service company focused on collecting high-resolution undersea information. Utilizing unmanned submersible vehicles, advanced data analytics, and machine learning, Terradepth delivers comprehensive insights into the world's oceans. Its innovative approach excited Alumni Ventures for its potential to open new avenues for industries, researchers, and environmentalists seeking to explore the mysteries of the deep sea.

Venus Aerospace, led by co-founders Sassie Duggleby (CEO) and Andrew Duggleby (CTO), is pioneering hypersonic technology development to revolutionize global travel. Its primary goal is to create an aircraft capable of circumnavigating the globe in just one hour. Overcoming the challenges of traditional hypersonics, Venus Aerospace employs innovative cooling techniques, propelling the world closer to a future of high-speed, efficient travel. The company caught the attention of the Alumni Ventures fund for the Texas A&M community, Ring Ventures, as these high-flying projects often yield unexpected innovations. Alumni Ventures interviewed CEO Sassie Duggleby in this spotlight.

Alumni Ventures' commitment to supporting veteran-led businesses goes beyond financial investment; it is a testament to their dedication to fostering innovation, honoring the commitment and bravery of military veterans, and driving progress in diverse sectors. As these dedicated and passionate entrepreneurs continue to shape the future of technology and business, Alumni Ventures stands alongside them, empowering their dreams and innovations for a brighter tomorrow.

Nothing in this communication is an offer to sell, or a solicitation of an offer to purchase, any security. Such offers are made only to eligible investors pursuant to the official offering documents for the investment funds. Alumni Ventures is a private for-profit company. Neither AV nor its funds are affiliated with or endorsed by any university. Example portfolio companies are provided for illustrative purposes only and are not intended to suggest any level of investment returns or performance. The example portfolio companies discussed are not available to future investors with AV, except potentially in the case of follow-on investments. Venture capital investing involves substantial risk, including risk of loss of all capital invested.

About Alumni Ventures

Alumni Ventures offers accredited individuals access to network-powered venture capital - a key asset class missing from the portfolios of many sophisticated investors.


Andrew Mitchell

SOURCE: Alumni Ventures

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