NRV

New Richmond Ventures (NRV) is an early-stage venture capital firm based in Richmond, Virginia, established in 2011. The firm distinguishes itself by offering not only capital but also crucial counsel and connections to companies poised at their growth inflection points. NRV's core mission revolves around identifying promising startups and providing them with the strategic support necessary to scale effectively, contributing significantly to the entrepreneurial ecosystem in the Mid-Atlantic region.

NRV primarily targets seed and early-stage ventures, with a typical first check size ranging from $250,000 to $1,000,000. Their investment thesis is broad yet strategic, encompassing diverse sectors such as Software, Healthcare, Consumer, Business Products and Services, Financial Services, and Industrials. This multi-sector approach allows NRV to build a diversified portfolio while leveraging their expertise across various industries to support their portfolio companies' development and market penetration.

As of recent data, NRV has made a significant impact with over 42 investments across its portfolio, demonstrating a consistent commitment to fostering innovation. The firm's growth trajectory is further evidenced by its fundraising efforts; for instance, NRV Fund III, launched in 2022, targeted $50 million, a substantial increase from the $25 million target of its predecessor, NRV Fund II in 2018. This expansion in fund size underscores NRV's increasing capacity and ambition to support a larger number of high-potential startups, solidifying its position as a key player in the early-stage venture landscape.