West Virginia may not be the first play into the startup world. Whether you're launching a tech company or expanding a small business, it's important to know where to find the right investor or VC for your needs. To make it easier, we've put together an extensive list of venture capital investors, and our experts have handpicked the top 10 venture capital firms in West Virginia just for you. You can find more details about investment opportunities here.
Here's a table that summarizes the overall VC data for a quick overview:
VC Firm
Ticket Size
Stages
Founding Year
West Virginia Jobs Investment Trust (WVJIT)
$1M - $5M
Early stage, late stage, mature companies
1992
INNOVA Commercialization Group
Seed stage up to early growth (Seed investments over $3.9M into 28 companies)
Seed and early stage
2002
Vantage Ventures (WVU)
Up to $100,000 for accelerator graduates
Pre-seed
2019
Mountaineer Capital, L.P.
$250k - $1M
Various stages
1999
Questa Capital
$5M–$50M
Growth-stage companies
2016
Scout Ventures
$2M–$5M
Seed to Series B
2010
Aldrich Capital Partners
$5M–$30M
Growth equity
2014
VentureSouth
$250,000 - $1M
Early stage
2008
Franklin Park Venture Funds
Fund allocations vary per partner firm
Varies depending on the partner firm
2003
Beringea
$3M - $10M
Growth, Expansion
1988
1. West Virginia Jobs Investment Trust (WVJIT)
West Virginia Jobs Investment Trust (WVJIT) is a venture capital firm supporting entrepreneurs ready to face challenges. They invest in innovative ideas. WVJIT works closely with founders to turn those ideas into successful companies. WVJIT provides funding and strategic guidance. They use their industry expertise to help entrepreneurs overcome obstacles. WVJIT is committed to building strong companies and creating jobs in West Virginia.
The High Technology Foundation is a venture focused on building a knowledge-driven economy in West Virginia. They try to diversify the state's economy by creating a strong "knowledge" sector, centered on science, technology, engineering, and math (STEM). They are committed to bringing long-term, positive change to West Virginia's economy.
Investment Range: Seed stage up to early growth (Seed investments over $3.9M into 28 companies)
Stage: Seed and early stage
Sector: High-tech, product commercialization
Geography: West Virginia
Notable Investments: TRAX BioSystems (biotech), Mountain State Bio (healthcare), Fiero Fluid Power (manufacturing), Vandalia Health (healthcare services), Virtual Sandbox (software)
Vantage Ventures is based at West Virginia University's John Chambers College of Business and Economics. They invest in bold entrepreneurs ready to disrupt industries and create change. They focus on startups with innovative solutions that address real-world challenges. Vantage Ventures provides access to huge resources and a strong support network. They help founders turn ideas into impactful businesses that drive growth and positive change. Vantage Ventures seeks determined leaders with a clear vision for the future.
Mountaineer Capital provides venture capital to early-stage and expanding businesses in West Virginia and nearby regions. They focus on technology, healthcare, and environmental sectors. They offer funding between $250,000 and $1 million. Mountaineer seeks companies with the potential for rapid growth and profitability. With a hands-on approach, they help businesses scale to achieve significant revenues, while supporting expansions and buyouts. Their mission is to fuel innovation and economic growth in the region.
Questa Capital is a venture capital firm that invests in healthcare companies with high growth potential. They focus on businesses that bring innovative solutions to healthcare which improve both quality and efficiency of care. Questa partners with strong leadership teams and helps them scale and build market-leading companies. Their goal is to generate strong returns while supporting the next wave of healthcare leaders making a real difference in the industry.
Scout Ventures is a seed-stage venture capital firm investing in breakthrough technologies that drive innovation across both commercial and defense sectors. They focus on dual-use tech which has applications in both private markets and public defense. With a team of military veterans and entrepreneurs, Scout Ventures helps founders through their effective solutions and strategies. Their goal is to create a positive global impact while delivering strong returns. They support ventures that enhance security, innovation, and prosperity.
Aldrich Capital Partners is a venture capital firm led by entrepreneurs who understand the challenges of growing a business. They invest in founder-led companies with a strong track record of success and focus on building long-term partnerships. Aldrich provides more than just capital. They offer deep operational support and industry expertise to help businesses scale. Their collaborative approach ensures companies can reach new levels of growth and success.
VentureSouth is a venture capital firm focused on backing early-stage startups in the Southeast. They invest in scalable, capital-efficient companies with strong product-market fit and defensible business models. They often go for companies driven by technology. With a network of over 550 investors, VentureSouth provides both capital and expertise to help promising entrepreneurs grow. Since 2008, they have invested more than $85 million in over 100 startups and supported innovation across various industries.
Franklin Park Venture Funds focuses on investing in private markets. They specialize in venture capital. They operate as a fund of funds, partner with top-performing managers and offer co-investments. Franklin Park seeks to identify and support high-growth opportunities across various sectors. They leverage their deep expertise to help businesses scale. With a focus on long-term value creation, their investments are dedicated to generate strong returns while fostering innovation and growth in the companies they back.
Beringea is a big player in venture capital. They manage $715 million in the U.S. and U.K. They really support startups with patient capital and help them grow. With a 30-year history, Beringea's diverse team works closely with founders while tackling challenges which open doors for global success. Their friendly approach, built on an entrepreneurial spirit, makes them a great partner for startups. Their goal is to create long-term growth and value worldwide.
Sector: Advanced Manufacturing, Alternative Energy, Business Services, Consumer Products, Information Technology, Life Sciences, Media, Medical Device Technology, Mobility
Venture capital is a type of investment that can be risky but has the potential for high returns. However, there is no guarantee of success. Investing in startups is always uncertain, and you might lose your money. Even though VC firms try to minimize risks, investing in startups is always uncertain, and you might lose your money.
What is the best country to set up a VC fund?
If you’re looking to set up a VC fund, many people think the United States has the best venture capital (VC) funds worldwide. This is because the US has a big economy, lots of money available, and many successful startups.
What cities have the most VC investments?
The top five cities for venture capital investment are San Francisco, New York City, Boston, San Jose, and Los Angeles. These cities together receive more than two-thirds (67.5%) of all venture capital investments.
What is the minimum amount for a VC fund?
Venture capital funds usually ask for a minimum investment of $250,000 to $500,000, and sometimes even more. Investing a small amount of money can still cost a lot. These funds are usually only open to wealthy people and big organizations that have a lot of money.
How do I choose a VC fund?
To choose a VC fund, check how much experience and success the venture capital firm has had before. Look at the companies they’ve invested in before to see if they match what your business does. This can help you figure out if they’re a good match for you.
Best of luck with your amazing ventures.
Please note that this list is filtered by various metrics, and all the data are collected through various third-party websites, mostly the VC website. Since data such as ticket size or industry may change, you are requested to visit the official website given in the blog for the latest and updated information.
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