VC News | Two funds announced with patriotic ties
Folds Ventures Fund I focused on disabled U.S. service members and first responders, while Godspeed Capital Fund III is targeting the defense and government sectors.
FortySix Venture Capital LLC:
The venture capital management firm with offices in Tulsa, OK and Bentonville, AR, has announced the launch of Folds Ventures Fund I that will target early stage tech founders from the veteran and first responder communities. The Fund was developed in association with Folds of Honor Foundation, a charitable organization that provides life-changing educational scholarships to the spouses and children of fallen or disabled U.S. service members and first responders.
Folds Ventures will back founders with funding and help them harness the power of a large network of patriots.
“For early-stage tech investors, access to leaders with elite capabilities, training and experience is paramount to success”, said Tracy Poole, Founder of 46VC, the fund’s manager. “The time is right to back founders with the skills needed to build enduring companies that will advance US capabilities across critical sectors.”
As the fund manager, 46VC has developed a low-friction way for investors to support the veteran and first responder communities that will be open to all accredited investors. The fund utilizes an innovative structure that shares a substantial portion of the manager’s carried interest returns with Folds of Honor in the form of a donation with each fund vintage, creating an evergreen resource for providing the potential for multitudes of scholarships. The structure allows investors to have the ability to:
- Achieve investment returns in a very sought-after asset class;
- Back elite founders with extraordinary resilience; and
- Create real impact by helping to ensure Folds of Honor’s mission to provide scholarships continues to thrive.
Godspeed Capital Management LP:
The lower middle-market defense and government services, solutions, and technology-focused private equity firm has announced the successful final close of Godspeed Capital Fund III LP, together with its affiliated vehicles, with $675 million of total investor capital commitments at the fund’s hard-cap. In combination with the firm’s predecessor funds, Godspeed Capital has to date raised more than $1.1 billion in capital commitments since its inception in 2021.
The oversubscribed Fund III was raised in less than two months and received strong support – well in excess of the fund’s hard-cap – from a diversified range of new and existing institutional investors globally, including leading endowments, foundations, health systems, public pension plans, family offices, fund of funds, advisors, and consultants.
Through Fund III, Godspeed Capital will continue to pursue its disciplined investment strategy of partnering with founders and management teams of companies operating across the defense and government sectors to drive growth and create value through strategic initiatives, operational improvements, technology investments, and add-on acquisitions. Since inception, Godspeed Capital has executed 33 investments and established eight platform businesses through its proven buy-and-build strategy that each operate with a unique area of focus at the intersection of the public and private sectors.
“We are thrilled with the strong support we have received from both existing and new investors for Fund III,” said Douglas T. Lake Jr., Founder and Managing Partner of Godspeed Capital. “Their commitment is both a testament to the hard work of the entire Godspeed Capital team and a reflection of their conviction in our proven investment strategy. Following the successful close of Fund III, we look forward to continuing to partner with founder- and management-owned businesses operating across the Defense & Government sectors that have reached an inflection point in their growth trajectory. Godspeed Capital’s differentiated, partner-friendly investment approach – bolstered by our core values, deep sector expertise and relationships, growth-oriented playbook, long-term vision, and creative capital solutions – make our firm an ideal partner for management teams seeking to catalyze the next chapter of growth for their companies.”
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