USAA provides anchor investment for Academy Investor Network’s Venture Fund

The fund will invest in underrepresented military communities and has a $50m target.

New York-based Academy Investor Network’s (AIN) announced it received an anchor investment of $2.5 million from financial services company USAA for its $50 million seed-stage focused fund. The inaugural early-stage fund will invest in start-ups led by US military veterans. AIN is led by military veterans Sherman Williams and Emily McMahan, managing partners of the fund.

Source: Press release