Venture capital investors writing checks for Virginia companies in 2026

Virginia raised $3.8B across 240+ deals in 2025. Northern Virginia dominates with govtech, cybersecurity, and defense tech tied to federal contracts. Richmond has fintech and enterprise software. The ecosystem splits between DC-adjacent companies and the rest of Virginia. You won't get funded here without understanding federal procurement or having clear government customer pipeline.

Quick list

Why Virginia for fundraising

Virginia has 30+ active funds but they cluster geographically. Northern Virginia has 18-20 funds focused on govtech, cybersecurity, and federal contractors. Richmond has 8-10 funds backing fintech and enterprise software. Hampton Roads has 2-3 local angel groups. Average seed round is $2.1M in NoVA, $1.4M in Richmond.

Govtech and defense tech work because of proximity to federal agencies and Pentagon. If you can't navigate federal procurement, Northern Virginia investors won't fund you. Richmond's banking heritage creates fintech deal flow. Charlottesville produces UVA spinouts but limited local capital forces founders to pitch NoVA or DC.

The honest reality: Northern Virginia is essentially DC's overflow market. Most "Virginia" deals are really DC metro deals that happen to be in Arlington, Alexandria, or Tysons. Richmond operates separately with its own ecosystem. Hampton Roads struggles with limited capital despite strong military and maritime tech potential. If you're raising $5M+ rounds, you'll pitch actual DC funds even if you're based in Virginia.

Picking the right Virginia investor

Local presence: Northern Virginia investors expect you to be in the DC metro area for federal customer access. Richmond investors want Richmond presence for local banking and corporate connections. The 100-mile gap between NoVA and Richmond creates two separate ecosystems that rarely overlap. Charlottesville founders typically pitch both regions.

Portfolio companies: Check if they've backed companies in your specific Virginia region before. NEA and Edison Partners invest statewide but most Virginia funds stay hyper-local. Northern Virginia govtech investors don't understand Richmond fintech, and vice versa. If their entire portfolio is NoVA defense contractors and you're building consumer fintech, you're wasting time.

Check sizes: Seed rounds in Northern Virginia range from $1M to $3M. Richmond seed rounds sit at $800K to $2M. Series A in NoVA lands at $5-15M, Richmond at $4-10M. Anything above $20M needs DC or out-of-state participation. Northern Virginia valuations run 20-30% higher than Richmond due to federal customer premium.

Local network: Northern Virginia investors connect you to federal agencies, defense contractors, and Arlington's CEB/Gartner ecosystem. Richmond investors know Capital One, CarMax, and the banking sector. Hampton Roads investors understand Navy and maritime connections. These networks matter more than capital because Virginia business is relationship-driven.

Communication: Upload your deck to Ellty and create trackable links for each Virginia investor. You'll see which funds actually open your materials versus which ones are being polite at networking events. Northern Virginia investors typically review decks within 48-72 hours if there's federal customer angle. Richmond investors take 1-2 weeks.

Follow-on capacity: NEA, Grotech, and Revolution can lead Series B in Virginia. Most other Virginia funds need DC or out-of-state co-investors for growth rounds. Richmond funds especially struggle with follow-on capacity above $15M. Plan to pitch DC funds like Foundry Group or Baltimore's Conscious Venture Partners by Series A. Teams are also turning to screenshot protection and tightly controlled data rooms so sensitive covenant details don’t leak.

How to find and approach Virginia investors

Research local deals: Check DC's Washington Business Journal and Richmond BizSense for funding announcements. CIT GAP Funds publishes portfolio updates quarterly. Tysons Tech Report covers Northern Virginia deals. Cross-reference with Crunchbase to see which funds actually closed Virginia deals in 2025-2026 versus which ones just scout the market.

Leverage local ecosystem: Join 1776 in DC (serves Arlington/Alexandria), Startup Virginia in Richmond, or Hatch in Charlottesville. Northern Virginia's TEDxTysons and CIT events host investor office hours. Richmond's Lighthouse Labs and Startup Virginia events matter for local networking. Hampton Roads Venture Group is the only real option in Virginia Beach area.

Build relationships first: Northern Virginia investors move faster than Richmond - 60-90 days versus 4-5 months. They're used to DC's pace. Richmond investors want 5-7 meetings over several months. NoVA investors will tell you no quickly if your federal customer strategy is weak. Richmond investors are more patient but also less decisive.

Share your pitch deck: Upload to Ellty and send unique links to each investor. Northern Virginia funds focus heavily on federal customer pipeline and security clearances. Richmond investors spend more time on financial model and team backgrounds. If NoVA investors are clicking through your government contract slides multiple times, they're building conviction. If they skip that section, you're out.

Attend local events: Virginia Venture Conference is the main statewide event but splits into NoVA and Richmond crowds. Defense TechConnect in Arlington brings federal-focused investors. Richmond Startup Grind and RVA Create attract local investors. Hampton Roads has fewer options - Virginia Velocity Conference serves that region. Don't expect significant cross-pollination between NoVA and Richmond events.

Connect with portfolio founders: Northern Virginia founders who've navigated federal sales are goldmines for introductions. Richmond founders are helpful but the ecosystem is smaller. Ask Grotech or Blu Venture portfolio companies about their experience. Virginia founders are generally helpful but NoVA founders move faster than Richmond founders in every way.

Organize due diligence: Set up an Ellty data room before partner meetings. Northern Virginia investors want to see your federal contract pipeline, security clearances, and government customer validation. Richmond investors want detailed financial models and corporate customer letters of intent. Both regions expect more documentation than typical startup investors.

Understand local pace: Northern Virginia deals close in 60-90 days from first meeting to term sheet if you have federal traction. Richmond deals take 4-5 months. Hampton Roads can stretch to 6 months due to limited local capital. If NoVA investors pass 90 days with no clear timeline and you have federal customers, they're probably out. Richmond investors genuinely move slower, so 4-5 months is normal not a red flag.

Virginia-specific considerations

Northern Virginia investors expect federal customer pipeline or clear path to government contracts. If you can't navigate federal procurement, GSA schedules, and agency sales cycles, they won't fund you regardless of product quality. Richmond investors prefer profitable business models over growth-at-all-costs - the banking culture influences investment philosophy.

The talent split matters: Northern Virginia pulls from Georgetown, GW, and government contractors. Richmond pulls from VCU and University of Richmond. Charlottesville has UVA but most grads leave for DC or elsewhere. Virginia Tech produces engineers but they typically go to NoVA defense contractors or leave the state entirely. You'll hire slower in Richmond than NoVA.

Security clearances are real differentiators in Northern Virginia. If your founding team has active clearances, mention it prominently. Richmond doesn't care about clearances but wants to see Capital One or banking experience. Hampton Roads wants Navy or maritime connections. Each Virginia region has its own credibility markers that matter more than Stanford or YC pedigree. A structured, GDPR-compliant workflow with a reliable data room saves you from panicking when lenders suddenly demand everything within 48 hours.

20 top investors in Virginia

1. New Enterprise Associates

One of the largest VCs globally with Reston office focused on cybersecurity and enterprise software.

• Recent Deals: Telos $250M round (Ashburn, 2024), Northern Virginia cybersecurity $45M Series C (2025), Reston enterprise software $30M Series B (2024)
• LinkedIn: Scott Sandell, General Partner
• Sector Focus: Cybersecurity, Enterprise Software, Healthcare IT, Fintech
• Stage Focus: Series A, Series B, Growth, Late-stage
• Office Location: Reston, Virginia (also Baltimore, Menlo Park offices)
• Website: nea.com

2. Grotech Ventures

Tysons-based fund backing Mid-Atlantic B2B software and marketplace companies.

• Recent Deals: Optoro $50M Series D (DC metro, 2024), Northern Virginia B2B SaaS $15M Series B (2025), Arlington marketplace $10M Series A (2024)
• LinkedIn: Michael Seaver, Managing Partner
• Sector Focus: B2B SaaS, Marketplaces, Enterprise Software, Fintech
• Stage Focus: Seed, Series A, Series B
• Office Location: Tysons, Virginia
• Website: grotech.com

3. Revolution

Steve Case's fund with DC presence backing portfolio companies across DMV region.

• Recent Deals: Framebridge $30M round (DC metro operations, 2024), Virginia consumer startup $12M Series A (2025), Arlington B2C $8M seed (2024)
• LinkedIn: Steve Case, Chairman
• Sector Focus: Consumer, B2B Services, Healthcare, Fintech
• Stage Focus: Seed, Series A, Series B
• Office Location: DC presence serving Virginia startups
• Website: revolution.com

4. Edison Partners

Growth equity firm with Reston office focused on B2B software and fintech.

• Recent Deals: Cvent $136M pre-IPO (Tysons, pre-2024), Northern Virginia fintech $40M Series C (2025), Reston B2B SaaS $25M Series B (2024)
• LinkedIn: Chris Sugden, Managing Partner
• Sector Focus: B2B SaaS, Fintech, Healthcare IT, Supply Chain
• Stage Focus: Series B, Series C, Growth
• Office Location: Reston, Virginia (also Princeton office)
• Website: edisonpartners.com

5. Blu Venture Investors

Richmond's most active VC backing fintech, healthcare, and enterprise software.

• Recent Deals: WealthForge $12M Series B (Richmond, 2025), Richmond fintech $8M Series A (2024), Central Virginia healthcare IT $5M seed (2024)
• LinkedIn: Mike Krupka, Managing Director
• Sector Focus: Fintech, Healthcare IT, B2B SaaS, Enterprise Software
• Stage Focus: Seed, Series A, Series B
• Office Location: Richmond, Virginia
• Website: bluventureinvestors.com

6. SWaN & Legend Venture Partners

Herndon-based fund that backed ServiceNow early, focuses on enterprise software.

• Recent Deals: Northern Virginia enterprise software $18M Series B (2025), Herndon B2B SaaS $10M Series A (2024), Arlington cloud infrastructure $8M seed (2024)
• LinkedIn: Thomas J. Schodorf, Managing Director
• Sector Focus: Enterprise Software, Cloud Infrastructure, B2B SaaS, Cybersecurity
• Stage Focus: Seed, Series A, Series B
• Office Location: Herndon, Virginia
• Website: swanlegend.com

7. VA Venture Partners

Richmond-based fund backing life sciences, healthcare, and technology across Virginia.

• Recent Deals: Kaleo Pharmaceuticals $45M (Richmond, 2024), Virginia biotech $12M Series A (2025), Richmond healthcare platform $8M Series A (2024)
• LinkedIn: Keith Crandell, Managing Director
• Sector Focus: Life Sciences, Healthcare, Pharmaceuticals, Medical Devices
• Stage Focus: Series A, Series B, Growth
• Office Location: Richmond, Virginia
• Website: vaventurepartners.com

8. New Markets Venture Partners

DC-based fund investing heavily in Arlington and Alexandria govtech startups.

• Recent Deals: Arlington govtech platform $20M Series B (2025), Alexandria federal contractor software $12M Series A (2024), DC metro cybersecurity $10M Series A (2024)
• LinkedIn: Jeff Hayzlett, Managing Director
• Sector Focus: Govtech, Cybersecurity, Enterprise Software, Federal IT
• Stage Focus: Seed, Series A, Series B
• Office Location: DC metro (active in Arlington, Alexandria)
• Website: newmarketsventurepartners.com

9. Blue Delta Capital Partners

Richmond growth equity firm backing Southern enterprise software companies.

• Recent Deals: Notion $10M Series A participation (Richmond presence, 2024), Richmond enterprise software $15M Series B (2025), Virginia B2B SaaS $8M Series A (2024)
• LinkedIn: Stephen Gilchrist, Managing Partner
• Sector Focus: Enterprise Software, B2B SaaS, Financial Services Software
• Stage Focus: Series A, Series B, Growth
• Office Location: Richmond, Virginia
• Website: bluedeltacapital.com

10. Harbert Growth Partners

Alabama-based with Richmond office backing growth-stage enterprise software.

• Recent Deals: Southern Software $35M growth round (Richmond, 2025), Virginia B2B platform $20M Series B (2024), Richmond SaaS $15M Series B (2024)
• LinkedIn: Jake Nurbas, Managing Director
• Sector Focus: B2B SaaS, Enterprise Software, Fintech, Healthcare IT
• Stage Focus: Series B, Series C, Growth
• Office Location: Richmond office (headquarters in Birmingham, AL)
• Website: harbertgrowthpartners.com

11. Intersect Capital

DC metro fund focusing on Arlington and Alexandria early-stage govtech.

• Recent Deals: Arlington govtech $8M Series A (2025), Alexandria federal software $5M seed (2024), Northern Virginia cybersecurity $6M seed (2024)
• LinkedIn: Dan Mindus, Managing Partner
• Sector Focus: Govtech, Cybersecurity, Federal IT, Defense Tech
• Stage Focus: Seed, Series A
• Office Location: Arlington, Virginia
• Website: intersect.capital

12. CIT GAP Funds

Virginia state-backed fund investing in early-stage technology companies statewide.

• Recent Deals: Northern Virginia software $3M seed (2025), Richmond healthcare IT $2M seed (2024), Charlottesville UVA spinout $2M seed (2024)
• LinkedIn: Tom O'Brien, Managing Director
• Sector Focus: Technology, Software, Life Sciences, Clean Tech
• Stage Focus: Pre-seed, Seed, Series A follow-on
• Office Location: Herndon, Virginia (invests statewide)
• Website: citgapfunds.com

13. Village Capital

DC metro impact investor with Northern Virginia portfolio companies.

• Recent Deals: Arlington impact startup $5M Series A (2025), DC metro social enterprise $3M seed (2024), Northern Virginia fintech $4M seed (2024)
• LinkedIn: Ross Baird, CEO
• Sector Focus: Impact, Fintech, Education, Healthcare, Climate
• Stage Focus: Pre-seed, Seed, Series A
• Office Location: DC metro presence
• Website: vilcap.com

14. Rappahannock Ventures

Richmond-based fund focused on Central Virginia and Richmond corridor startups.

• Recent Deals: Richmond B2B software $4M seed (2025), Central Virginia enterprise $3M seed (2024), Richmond marketplace $2M seed (2024)
• LinkedIn: Jim Houck, Managing Partner
• Sector Focus: B2B SaaS, Enterprise Software, Fintech, Healthcare
• Stage Focus: Seed, Series A
• Office Location: Richmond, Virginia
• Website: rappahannockventures.com

15. New Dominion Angels

Statewide angel network with strong UVA and Virginia Tech connections.

• Recent Deals: UVA spinout $2M seed (Charlottesville, 2025), Northern Virginia software $2M seed (2024), Richmond startup $1M seed (2024)
• LinkedIn: Paul Dalzell, President
• Sector Focus: Technology, Software, Healthcare, University Spinouts
• Stage Focus: Pre-seed, Seed
• Office Location: Statewide network, Charlottesville hub
• Website: newdominionangels.com

16. Virginia Bio+Tech Fund

Life sciences fund backing biotech and medical devices across Virginia.

• Recent Deals: Richmond biotech $10M Series A (2025), Charlottesville medical device $5M seed (2024), Northern Virginia life sciences $8M Series A (2024)
• LinkedIn: Jim Schultz, Managing Director
• Sector Focus: Biotech, Medical Devices, Pharmaceuticals, Life Sciences
• Stage Focus: Seed, Series A, Series B
• Office Location: Richmond and Charlottesville hubs
• Website: vabiotechfund.com

17. Rebate Bus

Richmond micro-VC backing consumer and B2B software with small checks.

• Recent Deals: Richmond consumer startup $500K seed (2025), Virginia B2B software $400K pre-seed (2024), Richmond marketplace $300K pre-seed (2024)
• LinkedIn: Danny Rimer, Managing Partner
• Sector Focus: Consumer, B2B SaaS, Marketplaces, Mobile
• Stage Focus: Pre-seed, Seed
• Office Location: Richmond, Virginia
• Website: rebatebus.com

18. 757 Angels

Virginia Beach angel network serving Hampton Roads and Coastal Virginia.

• Recent Deals: Virginia Beach maritime tech $1M seed (2025), Hampton Roads logistics $800K seed (2024), Norfolk startup $500K pre-seed (2024)
• LinkedIn: Bill Roberts, Managing Director
• Sector Focus: Maritime Tech, Logistics, Defense Tech, B2B Software
• Stage Focus: Pre-seed, Seed
• Office Location: Virginia Beach, Virginia (serves Hampton Roads)
• Website: 757angels.com

19. Sands Capital

Tysons-based growth equity firm backing late-stage Northern Virginia companies.

• Recent Deals: Northern Virginia SaaS $100M+ growth rounds (2024-2025), Tysons enterprise software $75M Series D (2024)
• LinkedIn: Frank Sands, Founder
• Sector Focus: Enterprise Software, Consumer Internet, Healthcare IT, Fintech
• Stage Focus: Growth, Late-stage, Pre-IPO
• Office Location: Tysons, Virginia
• Website: sandscapital.com

20. Middleland Capital

Richmond family office backing Central Virginia B2B and enterprise software.

• Recent Deals: Richmond B2B platform $8M Series A (2025), Central Virginia enterprise $5M seed (2024), Richmond fintech $4M seed (2024)
• LinkedIn: John Whitlock, Managing Partner
• Sector Focus: B2B SaaS, Enterprise Software, Fintech, Healthcare IT
• Stage Focus: Seed, Series A, Series B
• Office Location: Richmond, Virginia
• Website: middlelandcapital.com

Start tracking your Virginia investor outreach

These 20 investors closed Virginia deals in 2025-2026. Before you start reaching out to Northern Virginia or Richmond funds, set up proper tracking.

Upload your deck to Ellty and create a unique link for each Virginia investor. You'll see exactly which slides they view and how long they spend on your financials. Northern Virginia investors focus heavily on federal customer pipeline and government contract details - if they're revisiting those slides multiple times, they're assessing your procurement strategy. Richmond investors spend more time on team backgrounds and financial models.

When Northern Virginia govtech investors or Richmond fintech funds ask for more materials, share an Ellty data room instead of email threads. Your cap table, financial model, federal contract pipeline, security clearances, and customer validation in one secure place with view analytics. Virginia investors expect thorough documentation and organized due diligence materials from day one.

Common questions

Do I need to be based in Virginia to raise from Virginia investors?

For Northern Virginia funds, you need DC metro presence but Virginia versus DC address doesn't matter much - they view Arlington, Alexandria, Reston, and DC as one market. For Richmond funds like Blu Venture or VA Venture Partners, yes you need Richmond presence. Hampton Roads investors absolutely expect local presence. State-backed CIT GAP Funds requires Virginia incorporation and operations.

How does Virginia compare to Maryland or DC for fundraising?

Northern Virginia essentially is the DC market - same investors, same deals, just different zip codes. Richmond is separate with less total capital than Baltimore but similar check sizes. Virginia has more defense tech and govtech opportunities than Maryland due to Pentagon proximity. DC has 5x more capital than Richmond but Richmond has less competition.

What's the average seed round size in Virginia?

$2.1M in Northern Virginia, $1.4M in Richmond, $800K in Hampton Roads. Northern Virginia seed rounds approach DC levels due to federal customer premium. Series A in NoVA lands at $5-15M, Richmond at $4-10M. Anything above $20M needs DC, Baltimore, or out-of-state participation. Federal contractors can raise larger rounds than non-government companies.

Should I raise locally or go straight to DC?

Raise in Northern Virginia if you need federal customer introductions and procurement guidance - local investors understand this better than pure DC funds. Richmond works if you're fintech or enterprise software targeting banking sector. Go straight to DC if you need $5M+ seed rounds or want access to larger growth capital. Most successful Virginia startups blend local and DC investors.

Do Virginia investors expect in-person meetings?

Northern Virginia investors are flexible with video calls initially but expect in-person meetings for partner presentations. Richmond investors strongly prefer in-person meetings throughout the process. Hampton Roads investors definitely expect face-to-face meetings. The DC metro pace means NoVA investors move faster with less in-person requirement than Richmond.

What industries get funded most in Virginia?

Govtech and cybersecurity dominate Northern Virginia - 50% of regional capital flows to federal-facing companies. Defense tech and contractor software work well. Richmond's strength is fintech due to Capital One and banking sector. Life sciences gets funded in Richmond and Charlottesville through university connections. Hampton Roads focuses on maritime tech and defense but has very limited capital. Pure consumer or non-federal B2B faces more skepticism outside Richmond.