Richmond, the capital of Virginia, is also home to several top tech companies, including Service Now, Capital One, and Great Minds. The city, throughout the years, has attracted many investors and talented mindsets, boosting the entrepreneurial community.

Currently, there are hundreds of successful startups in Richmond, many of them funded by venture capital firms and angel investors.

Thinking about who those investors are?

Well, find out in this detailed guide highlighting the list of the top 6 angel investors in Richmond.

Top 6 Angel Investors in Richmond

Following is the list of some of the top-ranked venture capital firms that fund startups in Richmond. It's also important to understand that many of these VC firms aren't headquartered in Richmond but provide funding to Richmond-based startups through their external funding campaigns.

New Richmond Venture Capital

Website: NRV

Investor Type: Venture Capital 

Investment Interests: Tech

New Richmond Ventures, known as NRV Ventures is a famous VC firm in Richmond. The network was founded in 2011 by entrepreneurs and investors Bob Mooney, Jim Ukrop, and Ted Chandler. Among these, Ted Chandler is a famous personality with 35 years of C-suite experience, strategic leadership, and board service.

During the screening tests, NRV Ventures focuses on early-stage startups with clear goals to outperform their competitors and massive growth potential. Aside from their investments, the network also organizes many networking events and mentorship programs to help startups grow.

The investment range of New Richmond Ventures depends on the startups. From their previous 21 investments, it is evident they invest around $200,000. One of their most successful investment is:

Ario: Ario is an information technology company that combines the power of scalable web and mobile technologies with augmented reality. They have raised $3.8M in funding over 5 rounds.

Virginia Venture Partners

Website: Virginia Innovation Partnership Corporation

Investor Type: Venture Capital Firm

Investment Interests: Digital Health, Robotics, Fintech, Cryptocurrency.

Investing all across Virginia, Virginia Venture Partners is a venture capital firm based in Richmond. The network was founded in 2005 by Tom Weithman. Since its inception, the network has funded around 400 startups, becoming the most active VC firm in the city.

As for the screening tests, VVP invests in entrepreneurs who have made a full-time commitment to their business, a passion for their businesses, and have masses chances of growth. They target seed-early stage, pre-venture investment opportunities with a clear business plan.

Once a startup has been funded, Virginia Venture Partners organizes workshops and coaching programs to guide startups when things aren’t going their way.

The investment range of Virginia Venture Partners ranges from 100,000 to several million dollars. Some famous investments in their portfolio are:

Tidal Cyber: Tidal Cyber is a digital health company that helps enterprise organizations define and improve their defenses against adversary behaviors.

Rendyr: Rendyr is a robotics company that improves access to rapid prototyping and digital fabrication without the burden of expensive and cumbersome equipment.

Joltz: Joltz operates a rewards-as-a-service platform that offers Bitcoin rewards and digital assets. The company's platform makes it easy for any e-commerce merchant to configure and deliver Bitcoin rewards and digital collectibles to their customers.

ThinkGenetic: ThinkGenetic is a digital health company that provides validated algorithms and extensive expertise in rare diseases. They also offer digital solutions to detect patients for evaluation, treatment, and clinical trials.

Blue Heron Capital

Website: Blue Heron Capital

Investor Type: Venture Capital Firm

Investment Interests: Tech, Healthcare and Consumer Products.

Blue Heron Capital is a venture capital firm and a startup incubator that invests in North Carolina and Virginia. The network was founded by Tom Benedetti and Andrew Tichenor in 2006. Since its inception, Blue Heron Capital has funded around 40 startups, most related to the tech sector.

As for screening tests, Blue Heron Capital invests in small-cap growth equity companies in healthcare and tech-enabled business services. Throughout the year, they arrange several pitching contests to help startups join and present their pitch decks to secure an investment.

The investment range of Blue Heron Capital ranges from 200,000 to $1M. Among many investments, some recent portfolio companies are:

ShiftMed: ShiftMed, one of the largest W-2 healthcare workforce management marketplaces, has raised $200 million led by healthcare investors Panoramic Ventures with participation from Blue Heron Capital and Audacious Capital.

STARC Systems: STARC Systems, a five-year-old company in Brunswick, Maine, that sells innovative containment systems for the construction industry, has received a $3.4 million investment led by Blue Heron Capital.

757 Angels

Website: Home - 757 Angels

Investor Type: Venture Capital Firm

Investment Interests: Cybersecurity, Consumer Products, SaaS, tech, Software, Food and Healthcare.

Located in Norfolk, 757 Angels is a group of angel investors that fund startups in Richmond. The network was founded by Monique Adams in 2015 and has funded over 50 startups since its inception.

With more than 50 investors in the group, 757 Angels aims to fund the most deserving startups that can generate 5-10x ROI within the first 3 years of investment. They look for teams that are passionate, driven, and coachable. Teams must be ready to work with advisors and a Board of Directors.

Aside from their funding campaigns, 757 Angels also have an experienced network of mentors and entrepreneurs who guide startups regarding different challenges. They usually conduct workshops and programs to educate startups about growing their businesses.

The investment range of 757 ranges from 300,000 to several million dollars, depending on the startup's growth potential. Although they have funded many startups which have now become successful brands, some of their portfolio companies are:

DrugViu: (now known as ViuHealth) is a population health platform that expands the data set in health and medication outcomes for non-white populations. It combines data from FDA clinical trials, physician and pharmacist expertise, and demographic-relevant crowdsourced reviews.

Crypto Recovery: A company that specializes in the recovery of lost or stolen cryptocurrency. They offer a range of services like hardware wallet and private key recovery.

Corsha: A cybersecurity company. They have developed novel technology for API security, designed for widespread adoption and easy to configure and deploy to both commercial and government customers.

Edconnective: A company that provides an online video coaching platform for teachers. They offer personalized support from expert instructional coaches worldwide.

Riverbend Capital

Website: Riverbend Capital (okeanos.vc)

Investor Type: Venture Capital Firm

Investment Interests: Software, Fintech, Healthcare and Robotics.

After participating in more than 100 funding rounds in Virginia, Riverbend Capital is also an active VC firm that likes to fund startups at early and seed stages. The network was founded in 2016 by Aron Burkey and Mark Dumas. With more than 100 investors working in the network, Riverbend Capital conducts strict screening tests to fund the most deserving startups.

The investor panel consists of experienced individuals who fund startups based on their industry knowledge, market survival, and business achievements. Once funded, like many other VC firms, Riverbend Capital also conducts different mentorship programs and networking events, mostly outside of Richmond.

The investment range of Riverbend Capital ranges from $100,000 to $1M. Recent Companies in their portfolio are:

RoundlyX: RoundlyX is a fintech company that develops a digital asset wealth management platform. It allows users to invest by rounding up the spare change from their daily purchases and automatically using that amount to buy cryptocurrency.

Lora DiCarlo Inc: Lora DiCarlo is a female-led sexual health and wellness brand pioneering biomimicry, micro-robotics, data-driven, and physiologically informed designs to provide products, services, and education to its community.

VEDA Data Solutions: VEDA Data Solutions is a software company that provides data accuracy and automation for healthcare carriers and health systems. Their platform uses AI and machine learning to increase the accuracy of healthcare directories.

Gladstone Capital

Website: Gladstone Capital Corporation (GLAD)

Investor Type: Venture Capital Firm

Investment Interests: Tech and Healthcare

Gladstone Capital is a Private Equity firm that partners with entrepreneurs and private sponsors to fund startups. The network consists of many experienced managers and mentors who don't just provide funding to a startup but also guide it through different challenges.

And since they operate as a PE firm, Gladstone Capital actively arranges many accelerator programs to help different startups secure funding. Looking at some of the startups that have secured investment through Gladstone Capital, they usually provide funding of around $1M (highly depending on the startup and investor). Some of their portfolio companies are:

Cafe Zupas: Cafe Zupas is a restaurant that offers soups, specialty salads, sandwiches, and more. They have a revenue of $135.3M and employ 895 people.

Arc Drilling LLC: Arc Drilling LLC is a second-generation family-owned and operated special process machining house. Their services are centered on Fast Hole electrode discharge machining.

Wrap Up

So, there you have the list of top angel investors in Richmond.

While most of these investors are located inside the city, some are also located in different cities, so it's important to do proper research before pitching. Moreover, if you're going to pitch to an investor, understanding their portfolio companies and the methods they used to secure an investment can also play a great role.

Finally, work hard to create a compelling pitch deck, and you will surely secure funding for your startup.

Frequently Asked Questions