Fundraising FoxThe Veteran Fund
Venture capitalActively deployingSan Francisco · Seed · 5 people tracked
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Investment thesis
The Veteran Fund invests at the seed stage in critical technology startups led by elite military veterans. It targets companies with strong military presence in leadership or workforce, believing veteran leaders bring the resilience, purpose, and discipline needed to build transformative companies. The firm concentrates on mission-driven technologies aligned with national priorities that impact America's security, economic strength, and global leadership. Beyond capital, it offers portfolio companies a community of top military and business leaders, help unlocking non-dilutive capital, and support positioning for follow-on funding, while giving investors co-investment opportunities and exclusive experiences.
Source: firm website, verified Aug 3, 2026.
Team · 5 people
from the firm's website & public directories
What they invest in
from 27 of 36 portfolio companiesAI & Machine Learning ×12Defense Tech ×9Robotics ×6SaaS ×6Hardware ×5Cloud Computing ×4Data & Infrastructure ×4Enterprise Software ×4
HQs:United States×19
Who they back
founder profiles across 17 portfolio companiesFounding team size:solo founder×92 founders×63 founders×14+ founders×1
Where their founders studiedfrom 18 founders with education data
Columbia Business School ×2Embry-Riddle Aeronautical University ×2United States Military Academy at West Point ×2United States Naval Academy ×2
What their founders studiedfrom 18 founders with field-of-study data
Computer Science ×7Engineering ×6Business & Management ×4Finance & Accounting ×4Economics ×3
Where their founders worked beforefrom 18 founders with career history
US Army ×3Department of Defense ×2IBM ×2Tern AI ×2United States Air Force ×2US Navy ×2
Accelerator rootsportfolio companies that came through a program
Investments · 36 tracked
founders shown can be your intro pathBy year:2026 · 12025 · 12024 · 22023 · 12020 · 12019 · 12018 · 12017 · 19 dated
Acyber provides offensive security testing and red team services, offering custom tooling and platform-based vulnerability discovery for commercial and government clients in the United States.
CybersecurityDefense Tech
Boh Volyanyuk(Founder)Patrick O'Brien(Founder)
Co-investorsFulcrum VentureMultiball CapitalBloomberg Beta
San Francisco deep-tech startup developing an air-breathing fusion propulsion system to replace jet fuel on long-haul aircraft.
Climate TechMobility & TransportationRoboticsSan Francisco, US
Co-investorsSoma CapitalTechstarsClimate Capital
Andromeda builds a "digital knowledge twin" that turns technical manuals, service records, and institutional knowledge into a knowledge graph, using AI to deliver source-traced diagnoses and troubleshooting answers for equipment-intensive operations.
Advanced ManufacturingAI & Machine LearningEnterprise Software
Manish Modh(Founder)in
Co-investorsCapital FactoryArtesianForerunner VenturesNFDGParadigmPurpose Ventures+3 more
Autonomy is an automotive subscription platform that enables vehicle subscription services as a sustainable business model in automotive retail.
CleantechConsumerMobility & TransportationSaaS
Scott Painter(Founder)inGeorg Bauer(President & Vice Chairman)inFred Weick(Chief Executive Officer)
Co-investorsAngel Collective Opportunity FundBuilders + BackersCelesta CapitalFJ LabsFlucas VenturesKube VC+16 more
Warhead designs and manufactures advanced explosive ordnance systems for autonomous weapons platforms and drone applications.
Deep TechDefense TechHardware
Anthony Jones(COO and Co-Founder)Devan Plantamura(CEO)inJacob Lambuth(CTO)in
Co-investors640 OxfordNEW VISTA CAPITALPathbreaker Ventures
Cyberspatial builds Teleseer, a browser-based tool for analyzing packet captures (PCAP) and visualizing networks without requiring infrastructure, agents, or code.
CybersecurityData & InfrastructureSaaSClaymont, US
Ricky Tan(Founder)inLawrence Nunn(Executive Officer, Director)inXiao Tan(Executive Officer, Director)David Fulton(Executive Officer)
Cyphr converts bank transactions and public records into a lender-grade 0–300 readiness score for small businesses, producing an explainable score and a standardized readiness packet.
AI & Machine LearningData & InfrastructureFintechKansas City, US
Co-investorsTechstarsBlack OperatorPlug and Play Ventures
DarkSaber Labs develops tactical AI and a cloud-based platform that fuses fragmented sensor and SIGINT/EW data into real-time, actionable insights for military operators working in disconnected and contested environments.
AI & Machine LearningCloud ComputingDefense Tech
O'Connor(Founder)Brian O'Connor(Founder)in
Decile Group develops software and services for venture capital firms, including portfolio management platforms and advisory offerings designed to improve VC operations and ethical investing practices.
AI & Machine LearningEnterprise SoftwareFintechSaaS
Co-investorsChispa VCDash VCHallstone VenturesPrana Tech VenturesRedstick VenturesRoadster Capital+4 more
Firestorm Labs builds xCell, a containerized 3D-printing factory that produces modular military drones at the point of need.
San Diego, US
Daniel Magy(Executive Officer, Director, Promoter)Chad McCoy(Founder)inIan Muceus(Founder)in
BoardTommy Hendrix(Director)Aaron Jacobson(Director)in
Co-investorsAlumni VenturesBackswing VenturesBeyond CapitalBlack FlagBooz Allen VenturesBVVC+20 more
Foundation builds autonomous machines designed to perform tasks across a wide range of applications.
AI & Machine LearningHardwareRobotics
Co-investorsDefined VC
Fulcrum Autonomy develops autonomy and related capabilities aimed at tactical and strategic advantage for defense and national security customers.
Deep TechDefense TechRobotics
Co-investorsSilent CapitalSilent Ventures
Glīd builds autonomous road-rail vehicles and orchestration software that turn existing rail infrastructure — shortline mileage, dormant sidings, spurs, and industrial aprons — into first- and last-mile freight capability without new terminal construction.
Defense TechHardwareLogistics & Supply ChainMobility & TransportationRobotics
Kevin Damoa(Founder & CEO)in
Co-investorsAntlerBVVCCapital FactoryDraper AssociatesID VenturesMission One Capital+2 more
Havoc develops software for coordinating autonomous vehicles across air, sea, and land domains, enabling operators to supervise hundreds or thousands of autonomous assets simultaneously through a unified control platform.
AI & Machine LearningDefense TechRoboticsProvidence, US
Paul Lwin(Founder)inJoseph Turner(Executive Officer)Andrew Gregg(Executive Officer, Director)inJoe Turner(Founder)
BoardPaige Craig(Director)in
Co-investors0BS640 OxfordAlumni VenturesB Capital GroupB4 CapitalBVVC+14 more
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Hedgehog builds AI-native networking software that decouples network control from proprietary hardware, using an intent-based approach to deploy and manage network fabrics for AI training and inference workloads.
AI & Machine LearningCloud ComputingData & InfrastructureSeattle, US
Marc Austin(CEO, Co-Founder)inSergie Lukianov(Chief Architect, Co-Founder)inManish Vachharajani(CTO)inChrissy Hildebrandt(VP Finance)inGabe Montanti(VP Sales)inMatthew Moore(VP Marketing)in
Co-investorsAscend Venture CapitalMEDINA VENTURESAlameda ResearchSolana FoundationTenzor Capital
Instant Teams builds and manages onshore and remote customer and employee experience teams sourced from military spouses and similar talent pools.
Enterprise SoftwareFuture of WorkHR Tech
Liza Rodewald(Founder)in
Co-investorsBlue StartupsBlueTree Venture CapitalFrontier Venture CapitalSQUADRA VENTURES
Lonestar builds orbital data storage and AI infrastructure, placing "data embassies" on satellites and the Moon to preserve critical information under a customer's own sovereign legal authority.
AI & Machine LearningData & InfrastructureSpace TechSt Petersburg, US
Christopher Stott(Executive Officer, Director)Carol Goldstein(Executive Officer)inMark Matossian(Executive Officer)Michael Potter(Director)
BoardBradley C. Harrison(Director)inJose Hernandez(Director)
Co-investorsScout VenturesScout VenturesAtypical VenturesIronGate Capital AdvisorsKittyHawk VenturesSeldor Capital
Lone Star Lunar operates space-based data storage and sovereign AI inference platforms called StarVaults, which orbit Earth and the Moon.
AI & Machine LearningCloud ComputingSpace Tech
Co-investorsBackswing VenturesIronGate Capital AdvisorsScout VenturesScout Ventures
Natilus develops next-generation blended wing body aircraft for commercial cargo and passenger operations, designed to improve fuel efficiency, reduce emissions, and increase payload capacity.
Advanced ManufacturingCleantechSan Diego, US
Aleksey Matyushev(Founder)in
Co-investorsAurum Venture PartnersBeni Venture CapitalCapital FactoryDraper AssociatesFlucas VenturesInterlock Capital+10 more
OneRange is an AI-powered platform that helps companies identify workforce skills gaps, develop employee competencies through personalized upskilling, and anticipate future skill needs.
AI & Machine LearningEdTechEnterprise SoftwareHR TechSaaS
Steve Gilman(Co-founder & CEO)inHoutan Fanisalek(Co-founder & CTO)in
Co-investorsOssian CapitalContext Ventures
Proteus Space designs custom spacecraft buses tailored to individual payload requirements using generative design and flight-proven components, eliminating the compromises of standardized bus solutions.
Deep TechHardwareSpace TechLos Angeles, US
David Kervin(Executive Officer, Director)
BoardAndrew Shapiro-Scharlotta(Director)Craig Cummings(Director)inStephen Smoot(Director)inDouglas Dreyer(Director)
Co-investorsACADEMY INVESTORAIN VenturesCrosscut VenturesIndustrious VenturesMoonshots CapitalSilent Capital+1 more
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Refacture recovers materials from industrial processes and re-engineers them into critical materials for modern manufacturing, including silicon carbide for semiconductors and ceramics, rare earth elements for EVs and electronics, and recovered graphite and metals for battery, smelting, and defense applications.
Circular EconomyCleantechNew Materials
Co-investorsIronGate Capital Advisors
SplashOne presents itself as a gated "defense system" that requires requesting access credentials, but the page provides no concrete detail about what it builds.
Defense Tech
Jeff Wright(Founder)in
Co-investorsMultiball CapitalOverline
Stitch3D is a cloud-based platform for hosting, viewing, and collaborating on point clouds, LiDAR scans, orthos, and other 2D/3D spatial data through a browser, with a real-time multiplayer web viewer, georeferenced maps, and volume and reporting tools.
Cloud ComputingConstruction TechSaaSTacoma, US
Clark Yuan(Founder & CEO)inJeffrey Jakinovich(Executive Officer)
Co-investorsAutomotive Ventures MobilityDorm RoomContext Ventures
TERN builds IDPS (Independently Derived Positioning System), a software-only navigation architecture that maintains real-time vehicle positioning without satellites or GPS signals using existing sensors, digital maps, and proprietary AI.
AI & Machine LearningDefense TechMobility & TransportationAustin, US
Brett Harrison(Co-founder)inShaun Moore(Co-founder)in
Co-investorsBVVCScout VenturesScout VenturesLeo CapitalLocalGlobeNotion Capital+1 more
Vatn designs and manufactures low-cost, modular autonomous underwater vehicles with proprietary autonomy, navigation, and control software for undersea ISR, logistics, sensing, and payload delivery missions.
Defense TechHardwareRoboticsProvidence, US
Frederick Mills(Founder)inNelson Mills(Founder)inGeoff Manchester(Founder)inDan Hendrix(Founder)Freddie Mills(Founder)
BoardThomas Hendrix(Director)in
Co-investorsAirbus VenturesBackswing VenturesBeyond CapitalBlue CollectiveBVVCCapital Factory+16 more
VetraFi is a digital banking platform serving the U.S. military community—active service members, veterans, and their families.
Fintech
Co-investorsEvolution VC PartnersOssian CapitalStartXContext Ventures
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Data HoldingsDefiant SpaceEmpeqHaikuincHive GlobalPowurQualia Life SciencesVivid Labs
Portfolio news
latest coverage across their companiesFirestorm · techcrunch.com · Apr 29, 2026
Glīd · finance.yahoo.com · Jul 22, 2025
Frequently asked questions
- How many investments has The Veteran Fund made?
- The Veteran Fund has 36 tracked investments, including 3 dated in the last 24 months.
- What stage does The Veteran Fund invest at?
- The Veteran Fund invests at the Seed stage.
- What is The Veteran Fund's typical check size?
- The Veteran Fund typically writes checks of $500K – $2M.
- What sectors does The Veteran Fund focus on?
- The Veteran Fund focuses on Deep Tech, Defense Tech.
- Where is The Veteran Fund located?
- The Veteran Fund is headquartered in San Francisco, US.
- Who does The Veteran Fund co-invest with?
- The Veteran Fund most often shares deals with BVVC, Capital Factory, IronGate Capital Advisors, among 93 tracked co-investors.
Media · Podcasts & interviews
featuring the teamMission Oriented Episode 201 - Mike Sherbakov of The Veteran Fund
VeteranCrowd · Mike Sherbakov
Ryan Micheletti - The Veteran Fund & Founder Institute
VeteranCrowd · Ryan Micheletti
Co-investors · 1
Cubit Capital is an early-stage venture firm that partners with founders tackling foundational problems, guided by faith- and values-driven beliefs about stewardship and service.
Firms observed investing alongside The Veteran Fund, from public investor directories. Shared companies are the overlap with The Veteran Fund's recorded portfolio.
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