NRV, a Richmond, Virginia-based venture capital firm, closed its early-stage growth fund, at $33m.
NRV Early Stage Growth Fund LP will invest in promising, high-growth companies that are post proof-of-concept with demonstrated market traction.
Limited partners subscribing to the fund include 83 business leaders from across the Commonwealth. Many of those investors will provide expert counsel to operations and portfolio companies.
Founded by Ted Chandler, Bob Mooney and Jim Ukrop, the firm is departing from its previous “club investing” to offer expanded opportunities through an upfront pool of capital. Over the past five years, NRV and its network of investors have invested $54m in nine companies while also helping them raise an additional $80m from national and international strategic investors.
The firm has deployed a portion of the new fund to invest in three Virginia companies, including:
– Health Warrior, a food and movement brand that delivers super foods in convenient forms including chia seed-based energy bars and pumpkin seed bars,
– Nutriati, an agri-food technology company that makes food ingredients including a chickpea based protein power and a chickpea gluten-free flour, and
– Territory, a provider of professionally prepared nutritious meals to customers across the country.