New Regional Investment Firm Announced

Packed house at VTC hears the venture capital announcement

The new venture capital investment company Valley Ventures Ltd. Partnership was unveiled this evening at the Roanoke Blacksburg Innovation Blueprint event at Virginia Tech Carilion School of Medicine.

Valley Ventures, which is capitalized with $15 million ($5 million from each of its partners), is being underwritten by Carilion Clinic, the Virginia Tech Foundation and Third Security, an investment firm that concentrates in this region.

The new organization's money will be available for early-stage, growing companies that show considerable promise. Ray Smoot of the Tech Foundation said the funds are not focused on any specific type of business.