🇺🇸 The Veteran Fund Update: Q1 2025
The Veteran Fund Update: Q1 2025
As geopolitical tensions elevate the demand for critical technologies, we are proud to report that The Veteran Fund has delivered a breakout quarter.
Our investment thesis is not just working - it’s winning. Veteran-led portfolio companies are thriving, proving the unmatched value of backing mission-driven leaders with elite military backgrounds. At a time when many sectors are facing headwinds, private market investments into dual-use technologies - those that solve urgent defense needs while simultaneously driving commercial innovation - have proven to be especially resilient.
The Veteran Fund now has 21 portfolio companies that have collectively raised $150M+ in private investment capital, and over $30M of non-dilutive funding. This quarter’s performance underscores the strategic advantage of venture capital investment at the intersection of mission-driven leadership and critical technology. Our founders’ backgrounds in the military give them the decisiveness, resilience, and leadership thinking required to build in complex, regulated, and strategically-important markets.
In addition to introducing two new portfolio companies, we’re thrilled to share performance updates, subsequent funding rounds, and other announcements.
We remain focused, disciplined, and bullish on the future. The Veteran Fund was built for this moment - and we’re just getting started.
🚀 New Investments
Originally developed for military-grade information warfare, Andromeda is a cutting-edge enterprise intelligence platform that delivers unparalleled, hallucination-free analysis of massive, unstructured data sets. As one of the first tools capable of navigating and analyzing millions of documents with no hallucinations, Andromeda empowers high-stakes sectors like government and risk management with rapid, reliable decision making through fact-based intelligence. The team is led by an accomplished group of executives and advisors, including the former Chief Data Officer for SOCOM and the Department of Defense, with deep expertise in data science, machine learning, and AI.
Glīd is developing the first AI-powered, road-to-rail autonomous vehicle platform for freight and logistics. Led by a team of former SpaceX, Google, and U.S. Army and Air Force veterans, their patented system combines robotics, intelligent infrastructure, and freight brokerage software to unlock massive efficiency and value in the autonomous logistics market. The Veteran Fund invested in Glid’s pre-seed round, and they are now raising a seed round to scale production and deploy their next-generation vehicles and software to achieve more than $5M in revenue by the end of 2026.
📈 Portfolio Highlights
HavocAI closed a $13.4M Seed+ financing at a substantial markup to expand manufacturing and accelerate the development of a new sea vessel. The company's low-cost, attritable approach has secured multiple contracts with various branches of the military and defense contractors. With this momentum, the company is aiming to begin its Series A in Q2 this year.
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The Veteran Fund increased our investment into Proteus Space, helping close an oversubscribed $6.1M Seed-2 funding round with participation from Lavrock, SAIC, Moonshots Capital, and AIN. The company achieved a breakthrough with their automated high-fidelity structural design engineering system, MERCURY™, which drastically reduces custom satellite design from over 12 months to under 1 week - a more than 48x cost and schedule reduction. Proteus also secured their first commercial payload customer, a major defense contractor, for Mercury One launching Oct 2025.
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Firestorm Labs continues to distinguish itself by successfully securing STRATFI funding from the U.S. Air Force to scale production and operational deployment of its modular unmanned aerial systems. The award aligns with the DoD’s goal of rapid capability fielding, providing scalable and adaptable UAS to support warfighters in demanding operational environments. Firestorm’s 3D-printed, rapidly deployable drone technologies can produce drones 10x faster at 20% of the cost, while enabling on-demand mission customization. Firestorm’s success exemplifies the strategic value of critical, defense-ready technologies led by elite veteran founders. Read the press release here.
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In a landmark achievement, Lonestar has validated the viability of commercial data infrastructure on the lunar surface with their second Moon landing. Despite challenges faced by Intuitive Machine’s lander, Lonestar’s payload achieved unparalleled operational success, conducting robust data transmission across all phases of the mission. Lonestar's ability to maintain full functionality under extreme conditions and their consistent performance across multiple lunar missions underscores their engineering excellence and reliability, positioning them as a leader in the emerging lunar data economy. Lonestar is raising their Series A to build their cislunar satellite, providing 24/7 connectivity to Earth and power from the Sun, and unlock a large pipeline of customer demand. Learn more here.
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Tern AI was featured in TechCrunch about their low-cost, AI-driven positioning system as a compelling alternative to GPS. As critical infrastructure and defense systems increasingly require robust, reliable, and secure positioning solutions, Tern's innovation addresses a crucial gap. Beyond its defense applications, Tern's innovation unlocks substantial commercial potential within the multi-trillion dollar logistics and automotive industries, where GPS reliance represents a single, catastrophic point of failure. Read the article here.
🇺🇸 Featured Limited Partner: Kevin Bubolz
Kevin Bubolz is a former Army helicopter pilot turned marketing expert. After completing his MBA, he scaled his company, Golden Retriever Life, to 15M+ followers; launched products in over 1,800 Target stores; and collaborated with brands such as USAA, Starbucks, and Amazon. Kevin’s business expertise and mission-focused impact have been featured on industry-leading media platforms including The Tonight Show, Mr. Beast’s platforms, The Kelly Clarkson Show, and People Magazine. Kevin recently joined 9FB Capital as a General Partner and will announce an NFL Draft pick representing the Pat Tillman Foundation in April. We are honored to have Kevin in The Veteran Fund LP network.
📣 Announcements and Events
Welcoming the newest member of our tribe: We are thrilled to share that our incredible General Partner, Lisa Song Gunderson, and her husband, Josh Gunderson, welcomed a beautiful baby boy, Gabriel Gunderson, into the world this quarter. Lisa’s passion for building a stronger future continues to inspire our team, and we are overjoyed to celebrate this special milestone with her. The Veteran Fund is truly a family, and we’re honored to welcome Gabriel as the newest (and youngest!) member of The Veteran Fund tribe.
The Veteran Fund Annual LP Summit: We hosted The Veteran Fund Annual LP Summit in Las Vegas January 30th - February 1st. We shared exclusive fund updates, team building activities, and an opportunity for our incredible investor ecosystem to meet one another. We find that partnerships, collaborations and friendships, like the Antarctica expedition below, always emerge from this annual gathering.
Invitation to Antarctica with Deepak Chopra (LPs Only): We’d like extend an invitation to join a collaboration between two Veteran Fund LPs leading a 10-day transformative expedition to Antarctica. LP Carl Shephard, founder of Insider Expeditions, has partnered with LP and wellbeing pioneer Dr. Deepak Chopra for a once-in-a-lifetime experience in science, spirituality, and nature to venture to the Earth’s southernmost pole. More information on the trip can be viewed here, and Veteran Fund LPs can use code TVF2025 for a $1,000 discount.
From top left to bottom right: 1. Chris Gosselin (Skypad), Mike, Nicole Stott (astronaut), Craig Cummings (Moonshots Capital), Ryan 2. Craig, David Kervin (Proteus Space), Katie Swanson (SAIC), Mike 3. Angelina, Mike, Julia Price (Millbrook Estate), Ryan 4. Mo Jomaa (Capital G), Maggie Sprenger (Audere Capital), Paul Campbell (Brown Venture Group), Mike 5. Mike and Dan Magy (Firestorm) 6. Mike, Sherman Williams (AIN), Kelly Perdew (Moonshots Capital) 7. Lt. General Ross Coffman (ret), Mike, Sherman, Lt. General Edmond Brown (Army Futures Command) 8. Melissa Medina (Medina Ventures/eMerge) and Mike 9. Steven Simoni (Allen Control Systems), Mike, Will Edwards (Firehawk), Naweed Tahmas (Aeon)
The Veteran Fund On The Road: Q1 was packed with high-impact events and unforgettable moments for our team.
General Partners Mike Sherbakov and Ryan Micheletti joined several LPs in Cape Canaveral, Florida, to witness the historic launch of Lonestar’s lunar data center aboard a SpaceX Falcon 9 rocket - marking another milestone for one of our standout portfolio companies.
Mike served as a judge for the pitch competition at the 2025 Military Veteran Startup Conference, supporting the next generation of veteran-led startups - congratulations to winner Charles Masters Rodriguez, CEO of Autoket!
Mike and Ryan took the stage at FounderX, Founder Institute’s global summit of entrepreneurs and investors in Austin, Texas. Mike connected with founders and LPs while speaking at SXSW, judging their pitch competition hosted by KPMG.
He also joined the lineup at eMerge Americas, Miami’s premier tech conference, where he shared insights moderating a panel on the future of dual-use and defense innovation.
We are proud to represent The Veteran Fund across the country and strengthen relationships with our community at each stop.
We remain incredibly grateful to our world-class Veteran Fund LP base for their active involvement across our portfolio companies, with the majority of LPs being highly-accomplished investors, technologists, exited business operators, and decorated veterans.
Please continue to make warm introductions to exceptional veteran startup founders building critical technologies and values-aligned investors to support our mission.
We are honored to be stewards of this community.
-Ryan, Justin, Lisa, and Mike
🇺🇸 The Veteran Fund Update: Q4 2024
The Veteran Fund Update: Q4 2024
As we kick off 2025 with an oversubscribed Fund I, The Veteran Fund team is focused on expanding our portfolio of critical technology companies led by US military veterans.
A renewed sense of optimism is driving innovation forward and reinforcing America's legacy of liberty. Based on the performance of our existing portfolio companies and the leadership of an incoming administration shaped by accomplished veterans, we see a powerful alignment between national security priorities and our mission to back exceptional veteran-led startups.
From Silicon Valley’s defense origins to today’s cutting-edge innovations, veteran leaders continue to secure America’s future and drive global progress. The Veteran Fund proudly supports 19 portfolio companies led by resilient, mission-driven veterans. Through our investment thesis, we uphold the principles of American exceptionalism and build a legacy of prosperity for generations to come. Looking ahead, the critical technology market offers unparalleled opportunities for innovation to drive meaningful returns and lasting impact.
We are excited and grateful to begin the new year with a strong foundation for growth. Let’s dive in.
🚀 New Investments
Hedgehog AI is building the future of AI network infrastructure. Their cloud network software empowers cloud builders to manage their own AI infrastructure, offering a cost-efficient alternative to renting GPUs from major cloud providers.
Hedgehog AI enables enterprises to operate with the efficiency and scale of leading hyperscalers like Microsoft, Google, and Meta, while reducing network congestion, packet loss, and network latency, which can degrade the AI user experience. Hedgehog AI aims to disrupt traditional data center networking by leveraging SONiC open networking, thus empowering enterprises to achieve data privacy, control their AI workloads and optimize AI network performance for their customers.
AeroFuse is revolutionizing aviation with its nuclear Fusion Propulsion System, a zero-emissions engine that combines nuclear fusion energy and jet turbine technology to reduce emissions, lower costs, and extend flight ranges.
While the market for nuclear propulsion matures, AeroFuse is leveraging its fusion technology for the medical isotope market, offering more efficient isotope production and positioning itself for significant market share. The company is also advancing Neutral Particle Beam technology for defense and Neutral Beam Injection for plasma heating in commercial applications.
Post-investment, AeroFuse secured a $1 million Development and Commercial Agreement with a classified defense contractor to develop an NPB ground demonstrator, marking the first step in a three-phase commercialization plan.
We are excited to welcome EMPEQ, the winner of the $100,000 Veteran Pitch Competition featuring Jason Calacanis, to The Veteran Fund's portfolio (watch the replay here).
EMPEQ is an AI-driven B2B SaaS company specializing in the identification and analysis of critical infrastructure equipment and parts. Founded by Marine Corps veteran Herbert Dwyer and Derek La Clair, the company addresses inefficiencies in traditional manual inspection processes, which are often error prone and labor intensive. EMPEQ's cloud-based platform uses advanced computer vision and AI to automate the identification, cataloging, and analysis of equipment, enhancing accuracy and efficiency. The company serves high-stakes industries such as defense and energy, with major clients including the U.S. Air Force, Siemens, and Johnson Controls.
📈 Portfolio Highlights
Firestorm Raises $25M Series A and Wins $100M Air Force Contract: Firestorm raised its $25 million Series A and received a $100 million Air Force contract centered on its flagship Tempest drone. The contract includes the delivery of drones, support services, and research and development efforts, aiming to integrate into various Air Force initiatives focused on drone swarm technologies. Firestorm was also recognized as a leader in national security and dual-use innovation on the prestigious Silicon Valley Defense Group (SVDG) NATSEC100 list. Firestorm was also honored to host Dr. Laura Taylor-Kale, Assistant Secretary of Defense for Industrial Base Policy, to discuss the future of expeditionary manufacturing, highlighting Firestorm's innovations and national defense contributions. Read the article announcing Firestorm’s Air Force Contract here.
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Stitch3D Raises an Additional $1M: 2024 was a powerful year for Stitch3D. As it continued to expand its user growth and secure two new Air Force R&D contracts, Stitch3D placed in the top 5 out of approximately 3,500 companies at TechCrunch Disrupt’s Startup Battlefield. See CEO and Army veteran Clark Yuan’s pitch here, where he discusses how his time in Afghanistan inspired Stitch’s vision for LIDAR and data accessibility. In Q4, The Veteran Fund increased its investment into Stitch3D and welcomed Context Ventures to the cap table, bringing in an additional $1M investment into the company.
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Tern AI Presents to Presidential Advisory Board: Tern AI is capturing the attention of both commercial and government sectors with its innovative PNT (Position, Navigation, and Timing) solution (watch their demo video here). As GPS vulnerabilities like signal interference and cyber threats grow, Tern AI's non-GPS PNT technology is crucial for ensuring resilience and operational continuity in both civilian and military contexts. In 2024, Tern AI made headlines by being the only emerging tech company invited to present to the Presidential Advisory Board for PNT, where a planned 15-minute session stretched to 45 minutes due to keen interest, signaling strong potential for future collaborations. Tern AI is now seeking an internal “Director of Federal” to spearhead its Department of Defense strategy; please share any strong leads for this role.
🇺🇸 Featured Limited Partner: Han Kim
Han Kim is a US Army veteran and Managing Director of Altos Ventures. He attended Stanford University Graduate School of Business and United States Military Academy at West Point.
As a Managing Director and co-founder of Altos Ventures, Mr. Kim manages more than $10B in regulatory AUM. Drawing from his military background, Mr. Kim brings a disciplined and mission-driven approach to venture capital, helping portfolio companies scale efficiently while navigating challenges.
We are honored to include Han Kim as part of The Veteran Fund LP network.
📣 Announcements and Events
Jason Calacanis and GP Mike Sherbakov
The Veteran Fund featured on This Week in Startups
GP Mike Sherbakov was recently featured on Jason Calacanis' show, hosted by the renowned angel investor and host of the All-In Podcast. During the conversation, Mike shared insights about the unique skills and leadership qualities that veterans contribute to the startup ecosystem.
He also highlighted The Veteran Fund's mission of investing in early-stage, veteran-led companies driving innovation in critical technology sectors. This platform provided an incredible opportunity to spotlight the impactful work being done by veterans in tech and the growing success of The Veteran Fund. You can watch highlights of the conversation here.
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eMerge Veteran Pitch Competition
The Veteran Fund and eMerge Americas proudly present the inaugural SALUTE! Veteran Pitch Competition. On January 22, 2025, eight exceptional startups led by veterans, service members, first responders, and military spouses will pitch live online to top investors and industry experts. The top two will advance to the exclusive Veteran Accelerator and Showcase at eMerge Americas in Miami, March 27–28, 2025. Participants will compete for over $12,000 in benefits, showcasing their startups to nearly 30,000 global attendees, and gain unparalleled networking opportunities with leading investors, industry talent, and strategic partners. Learn more here.
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Military Veteran Startup Conference
The Military Veteran Startup Conference is one month away! Hosted by Context Ventures, this is the premier event for veteran startup founders and investors to build their networks, secure clients, and raise capital. Join The Veteran Fund team February 5-6 in San Francisco, CA. Register here.
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Apply to the FI Veteran and Military Family Accelerator
Our Founder Institute Veteran and Military Family Startup Accelerator kicks off on February 18, 2025. Any US veteran or military spouse interested in building a technology startup can apply and join the accelerator for free through our JPMorganChase scholarship. View the application and program details here: fi.co/veteran
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SDI Reception at SXSW
Austin, TX, has become a hub for defense innovation and space-related technologies. During SXSW, leaders from the space and defense sectors gather in Austin TX to scout new technologies, make connections and engage within the greater innovation ecosystem. The Veteran Fund is proud to sponsor an invite-only Space and Defense Innovation Reception on March 8th that brings innovators together for an exclusive event featuring forward-thinking leaders in the space and defense innovation sectors. Apply here.
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Lonestar’s Second Moon Launch (LPs Only): Join The Veteran Fund team for portfolio company Lonestar’s Freedom Launch, their second mission to the Moon on Feb 26th in Cape Canaveral. This includes a tour of the Kennedy Space Center and a viewing of the launch. This event is for LPs and portfolio companies only. Please reply back for details and registration.
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The Veteran Fund Annual LP Summit (LPs Only): We are thrilled to welcome our investors back to Las Vegas for our annual LP Summit January 30th - February 1st. It’s a full 2.5 days of exclusive fund updates, team building activities, and an opportunity for our incredible investor ecosystem to meet one another. We find that partnerships, collaborations and friendships always emerge from this annual gathering.
We enter 2025 with immense gratitude for your unwavering support and shared commitment to advancing liberty through innovation. Your belief in the bold, mission-driven leaders at the helm of our veteran-led startups inspires us to continue investing in technologies that strengthen our nation and drive economic growth.
With enthusiasm and purpose, we look forward to making this year one of transformative progress and shared success.
-Ryan, Lisa, Mike, and Justin
🇺🇸 The Veteran Fund Update: Q3 2024
The Veteran Fund Update: Q3 2024
We are excited to announce that The Veteran Fund has officially oversubscribed its debut fund!
Since the founding of The Veteran Fund, our mission has been to invest in exceptional veteran-led startups building critical technologies that would advance America towards a more prosperous future.
Today, our thesis has been validated and our resolve has only been strengthened by the performance of our portfolio companies and the community we have built.
By elevating and uniting the best leaders our country has to offer, we will help usher in a new generation of American leadership while driving great returns for our investors.
As we close Q3, we are proud to report:
We have nearly 100 partners supporting our mission including senior military leaders, highly-accomplished exited founders, and global wellbeing experts. Learn more about our partners here.
We have reviewed over 3000 startups, leading to 16 portfolio companies that have collectively raised $130M+ in investment capital and continue to secure lucrative government contracts. Learn more about our current portfolio here.
In our update below, we are excited to share our recent investments, big wins (that we can publicly share), our $100,000 Veteran Pitch Competition with Jason Calacanis, and other great events we are proud to support.
Let’s go!
🚀 New Investments
HavocAI is pioneering ultra-low cost autonomous uncrewed surface vessel technology that allows a single operator to control thousands of unmanned assets. HavocAI is poised to field thousands of autonomous multi-mission maritime assets in domains of pressing need, providing genuinely affordable mass efficiently and expeditiously for a wide range of applications, from defense missions to commercial ventures.
The team is led by several accomplished veterans. CEO Paul Lwin is a Naval Academy and Yale graduate, first generation immigrant, and Naval Aviator. Joe Turner is a Naval Surface Officer (nuclear) and an autonomous systems manufacturer expert. Andrew Gregg is a US Air Force Special Operations Instructor Pilot and highly technical senior systems engineer.
The Veteran Fund invested in Havoc’s recent $11M seed round led by Scout Ventures, with participation from Trousdale Ventures, Outlander VC, BV.VC, Decisive Point, Alumni Ventures, and New North Ventures.
One Range is an AI-powered employee upskilling marketplace that allows companies to seamlessly manage their employees’ professional development by automating budgets, connecting them to world-class learning resources, and intelligently managing their growth trajectory. Customers love One Range’s B2B SaaS and pay-per-use pricing, which has allowed the company to serve over 5,000 learners and surpass $1M in ARR.
The team is led by CEO Steve Gilman, a Naval Reserve Officer, Yale University and Columbia Business School graduate, and former professional baseball player for the Detroit Tigers. The company’s CTO, Houtan Fanisalek, is a world-class entrepreneur and software engineer who has worked on cutting-edge R&D projects for Lockheed Martin, among other initiatives.
The Veteran Fund invested in One Range’s oversubscribed seed round, led by our friends at Context Ventures. The company was recently named one of the fastest-growing Veteran-founded startups by Harmonic.ai.
📈 Portfolio Highlights
Vatn Systems Series Seed Round: We are excited to announce that The Veteran Fund made its second investment into Vatn Systems $15M Series Seed to help build the future of underwater autonomous vehicles. Led by CEO Nelson Mills, and Army Special Forces Veteran Dan Hendrix, Vatn’s affordable vehicles act in cooperative swarms that enable a multitude of use cases for the military, law enforcement and commercial markets. At the core of Vatn's R&D efforts is advanced navigation software that is effective in GPS, vision, and communication-compromised environments. Additionally, Vatn’s modular building block structure allows its vehicles to be tailored to the ranges, accuracy, and sensors required for every mission at low cost. In addition to previous SBIRs, the team was selected for Phase 3 of the Office of Naval Research’s Advanced Capabilities Experiment and participated in an Advanced Capabilities Experiment with the Marine Corps where they trained Marines to use their vehicles within 30 minutes.
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Proteus Space Pre-Series A Round: The Veteran Fund made its second investment into Proteus Space’s Pre-Series A alongside co-investors and new strategics. Led by highly-accomplished Marine Corps Veteran David Kervin, Proteus previously raised $4.2M to build the world’s first AI-designed ESPA-class satellite through their “Mercury” AI software that can rapidly design custom satellite buses in minutes, not months. To date, Proteus has secured over $3M in government contracts and is poised for even more success with their cutting edge satellite design and quick production times in the fast-evolving space industry.
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Lonestar and Imagine Dragons Collaboration: The Veteran Fund is thrilled to have facilitated a once in a lifetime collaboration between portfolio company Lonestar Lunar and the Grammy award winning band, Imagine Dragons, to transmit the first song in history from the lunar surface back to earth. Imagine Dragons is set to debut their song "Children Of The Sky" live at the Hollywood Bowl on October 27. The song will then be transmitted from the Moon in early 2025 as part of Lonestar's Freedom Mission. The band hopes to inspire a new generation's interest in space and technology through this historic broadcast, and we are honored to be part of the monumental occasion. Read more details and get tickets to the Hollywood Bowl concert here.
🇺🇸 Featured Limited Partner: IronGate Capital Advisors
IronGate Capital Advisors is a Fund of Funds and direct investor into companies and venture capital firms who support dual-use technologies that strengthen the national security of the United States and our allies.
IronGate forges long term relationships with, and makes commitments to, best-in-class managers with investment theses that are congruent with their mission.
The firm is managed by an exceptional multidisciplinary team of experts in finance, national security, and technology, whose extensive relationships and collective experience enables IronGate to identify direct investment opportunities in leading early-stage technology companies while supporting fund managers with capital commitments, unique government connectivity, and uncommon perspectives.
🇺🇸 Featured Portfolio Company Veteran: Chad McCoy
Chad McCoy and rescued hostage, Captain Phillips
Chad McCoy is the co-founder and Chief Strategy Officer of Firestorm Labs. A retired Chief Master Sergeant with 23 years in Air Force Special Operations as a pararescueman, Chad completed dozens of combat deployments to Iraq, Afghanistan, Yemen, Somalia, and Libya, and played a key role in the high-profile rescue of Captain Phillips.
Chad joined Firestorm because he believes their technology will change combat fundamentally. In an interview with The Veteran Fund, Chad would like to share the following leadership lessons with our community:
Military service prepared him for entrepreneurship by teaching him resiliency, tenacity, and demanding high standards for himself and those around him, underscoring The Veteran Fund’s core belief that veterans’ resilience and unwavering commitment to service is critical to advance America.
Start-up life is tough and will always include setbacks and failures, however, it is how you deal with those challenges that is critical. Building industry-leading technology is a marathon at a sprinter's pace.
Good leaders can self-reflect, recognize weaknesses and surround themselves with people who are better than they are and just as driven. If you don't have people around you that challenge your assumptions, you will fail and not realize it. The ego is your enemy, and constant reminders are healthy lessons.
Chad embodies the core values of The Veteran Fund: leadership, resilience, and purpose. His unique experience as a veteran leader positions him to play a pivotal role in advancing the reach and impact of our nation’s premier dual-use technologies. We believe leaders like Chad are essential in driving innovation and scaling solutions that make a lasting difference for our great nation.
📆 Q3 Event Highlights
Annual Dinner at LP General Stanley McChrystal’s Home
Early LP and supporter General Stanley McChrystal once again graciously opened his home in Virginia to The Veteran Fund tribe for an evening of camaraderie, fund updates and discussion of the future of veteran entrepreneurship. A big thank you to his team and The Veteran Fund partners who joined us in DC for the dinner.
The Veteran Fund GPs with LP Gen. McChrystal and Dr. Oz
Sages and Scientists at Harvard University
The Veteran Fund led a panel on how veteran leadership is critical to innovation and liberty at Deepak Chopra’s prestigious Sages & Scientists Symposium at Harvard University. Justin moderated a panel with Ryan, General McChrystal, Dr. Matt Provencher, and David Metcalf. The symposium included global technology and business leaders such as Dr. Oz, Sam Altman, Gary Vaynerchuk and Kenneth Cole. The event was a resounding success and is slated to be hosted in New York City in 2025.
In addition to the highlights above, it was a busy quarter filled with great people, collaborative events, and meaningful conversations. From top left to bottom right: 1. Mike, Kelly Perdew and Craig Cummings (Moonshots Capital), Ikram and Katherine (VetsinTech) at VetVC in New York hosted by JPMorganChase. 2. Mike guest-lecturing at Stanford University with Rebeca Hwang (Kalei Ventures) and Alex Cohen (creator of the earliest search engine). 3. Mike, Deepak Chopra, and Justin at Ameyalli Resort groundbreaking in Park City, Utah. 4. Mike presenting the future of The Veteran Fund at Bunker Labs Ambassador Summit at IVMF, Syracuse University. 5. Mike and Steve Forbes (Forbes Media) at Principled Business Summit in New York City 6. Mike with Sean Drake (Stoney Lonesome) and Tyler Johnson (eMerge) for private investor dinner with Erik Prince (Blackwater) in Washington, DC. 7. Mike and JR Gibbens (Office of Strategic Capital) at private family office event in Washington, DC 8. Mike, Julie, Liz, and Heidi signing the charter as co-founders of the Veterans Society at The Battery in San Francisco. 9. The Veteran Fund partners join for a private tour of the EEOB and White House in Washington, DC.
📣 Announcements and Events
$100,000 Veteran Pitch Competition feat. Jason Calacanis (Nov 14)
We are excited to host our annual $100,000 Veteran Pitch Competition. During this live online event, you can watch promising veteran-led startups pitch to a group of investors for a chance to secure a $100,000 investment from The Veteran Fund.
Jason Calacanis, angel investor and host of All-In Podcast, will join as a guest judge to help select the winner. Join hundreds of angel investors, venture capitalists, and entrepreneurs to watch the next generation of military-connected entrepreneurs pitch their startups. Register to watch and view pitch details here: http://veteran.fund/100k
Apply to the FI Veteran and Military Family Accelerator (Spring 2025)
The FI Veteran and Military Family Startup Accelerator kicked off in August with 100 enrolled founders!
The Spring 2025 cohort begins on February 18, 2025. Any US veteran or military spouse building a technology startup can apply and join the accelerator for free through our JPMorganChase scholarship. View the application and program details here: http://fi.co/veteran
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MCON 2024, held from October 24-27 in Las Vegas, was created by veterans to unite the military community for an epic celebration. It features dynamic workshops, hands-on experiences, health and wellness initiatives, and a Military Impact Summit to support veteran entrepreneurship and career development. The MCON team has generously offered The Veteran Fund community complimentary general admission wristbands using the code “MCONTEAM” when buying tickets at MCON.Live.
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Our friends at VetsinTech are hosting their annual gala on November 8, 2024. The annual Fall Gala will be held at the Marines' Memorial Club in San Francisco. Join a great community for a cocktail reception, silent and live auctions, a sit-down dinner as well and networking opportunities with technology leaders, partners, and military leaders. RSVP to kwebster@vetsintech.co
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Warrior Rising is hosting an incredible event, Saluting Her Service, on December 12th, featuring Martha Stewart. This gathering celebrates the rising stars of women veteran and military spouse entrepreneurs, honoring their achievements and raising critical funds to support Warrior Rising’s mission of empowering veteran business owners. The evening will feature fireside chats with Martha Stewart and culminate with an announcement of the Pitch Champion, who will be awarded a grant to launch her business to new heights. If you’re interested in attending, please email alyssa@warriorrising.org
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We are thrilled to invite our LPs to The Veteran Fund Annual LP Summit in Las Vegas, January 30 - February 1, 2025. This marks our third LP Summit, and each year we see the profound impact of gathering our mission-aligned community in person. These summits not only foster strong camaraderie but also spark unique collaborations that only happen when we come together. For our investors, we’ll share registration details privately and look forward to having you join us for two days of exclusive fund updates, off-site excursions, and team building dinners.
We are incredibly proud of the community that has come together around our mission to advance America through venture capital. Thank you for your continued support and contribution toward the closing of an oversubscribed Fund I. It is an honor to be stewards of this great community.
As always, if you know of a strong company led by an exceptional veteran founder, please share this with them.
With gratitude,
Justin, Lisa, Ryan, Mike
The Veteran Fund General Partners: Justin Nahama, Lisa Song Sutton, Ryan Micheletti, Mike Sherbakov