Academy Investor Network’s Venture Fund I Announces Anchor Investment from USAA

Academy Investor Network’s (AIN) Ventures Fund I is today announcing an anchor investment from financial services company USAA for its $50M seed-stage focused fund. 

AIN is an early-stage venture capital fund that invests in U.S. military veteran-led startups and non-veteran-led startups building technologies that make our country safer, operate more efficiently, and have a strong commercial use case. AIN is led by Sherman Williams and Emily  McMahan, military veterans with extensive entrepreneurship, early-stage investment and finance experience.  

USAA’s investment will add value by providing funding to veterans attempting to build high-growth technology-based companies. USAA has previously invested in companies including Coinbase, PrecisionHawk, BillGo and ID.Me.  

"Investing in AIN is a natural fit as we continue to grow our commitment to veteran entrepreneurs and underrepresented military communities,” said Nathan McKinley, Vice President of Corporate Development at USAA. 

“We are excited to be an anchor investor in AIN because of its focus on veteran entrepreneurs, who often lack access to seed money and mentor networks,” said Harriet Dominique, Chief  Diversity, Equity, Inclusion and Corporate Responsibility Officer at USAA. “By helping AIN invest in these founders, USAA looks to make a broader impact on the education, employment and economic inequities that exist within military and local communities.” 

AIN is a continuation of Emily McMahan’s work to support the veteran entrepreneurial community. Emily founded Capitol Post, a veteran entrepreneurial incubator program in  Washington DC, and she ran Bunker Labs DC. Emily is currently a Patriot Boot Camp Board  Member - a USAA sponsored organization - and works with the non-profit Common Mission  Project, a 501(c)(3) organization that leverages academia to help the government solve tough problems. 

“Military veterans are underrepresented in the venture asset class due to lack of funding,  network, and mentorship,” said Emily McMahan, AIN Managing Partner. “AIN seeks to bring all to the table to invest in the best technology-based early-stage companies our nation’s veterans have to offer. We are excited to partner with USAA to support and scale veteran-led startups.” 

Sherman Williams has been a serial early-stage investor after a career in investment banking.  Several of his investments to date have been in the dual-use technology space. 

“AIN also seeks to invest in non-veterans that are building dual-use technologies,” said  Sherman Williams, AIN Managing Partner. “Our current geopolitical atmosphere and U.S.  domestic issues pose unique challenges to our nation. Startups can usher in unique solutions to address these problems. We are excited to work with USAA to financially back founders who  are building these dual-use technologies.”

USAA’s commitment marks the second strategic investment into AIN Ventures. Scout Ventures is the fund’s initial investor. Scout complements AIN well having previously invested in top-tier veteran-led startups such as UniteUs and ID.Me. Additionally, Scout now invests at the intersection of frontier and dual-use technology, which further complements AIN’s goal of investing in non-veteran startups involved in dual-use technology. 

“Our investment in AIN is based on our strong belief in Emily and Sherman and their ability to back more incredible veteran founders,” said Wes Blackwell, Scout Ventures Partner. 

AIN also runs an investment syndicate that brings together graduates of the five U.S. Military  Service Academies (USNA, USMA, USAFA, USCGA, and USMMA) to invest alongside the venture fund. The syndicate has already made notable investments into Polco and A.M. Money.  This syndicate of U.S. Military Service Academy Graduates provides AIN with a valuable lens when evaluating veteran and dual-use tech startups. 

“We were also interested in AIN’s syndicate approach, where they are leveraging the knowledge of Academy Grads to select top-tier dual-use tech companies,” said Brad Harrison, Scout  Ventures Managing Partner. 

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About the Academy Investor Network. Visit academyinvestor.com
 

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Molly O’Connor

PR for AIN

VSC for AIN

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