Arlington, VA, June 28- Eastern Foundry, a veteran-owned coworking space and accelerator for small businesses and emerging technology companies in the federal procurement space, today announced its strategic partnership with Task Force Capital Management. The relationship will allow Eastern Foundry to broaden the base of veteran-owned companies in their membership portfolio as well as provide the ability to invest in those businesses.
Launched in January 2016, the veteran-led advisory and investment firm is focused on growing seed and early-stage veteran owned businesses and startups. Task Force X Capital was started by Brandon Shelton, a veteran entrepreneur who has advised top corporate leaders, non-profit teams and small companies across North America and led large-scale strategy development and deployment projects since 2008.
“Our team is eager to support Eastern Foundry and its mission to forge innovation in the government,” said Brandon Shelton, Founder of Task Force Capital Management. “There are thousands of Veteran-owned companies creating nimble solutions to our country's toughest problems. Through our combined effort, we can provide the financial and advisory support these Veteran-owned businesses need to bring these solutions to governmental customers who need them most."
According to the SBA almost 10% of small business in the US are veteran-owned, additionally veterans are 45% more likely than someone without military experience to open a small business. Lastly, according to the National Veteran Owned Business Association, 70% of Americans prefer to purchase from veteran-owned businesses if they could easily locate them.
All combined, these stats prove that the veteran owned market is ripe for further expansion.
TFX targets high performing Veteran leaders who are capable of leading a team towards Mission accomplishment in volatile and uncertain environments. Eastern Foundry strives to be a valuable addition to the fund, as the community gains new veterans each and every month.
“We are thrilled to partner with TFX and combine resources with a like-minded veteran-focused company,” said Andrew Chang. “We look forward to growing the Task Force X portfolio together and ultimately giving back to the veterans who have given us so much through their service to our country.”
About Eastern Foundry
Eastern Foundry is a first-of-its-kind marketplace where technologists, government contractors and agencies convene to exchange information and opportunities, find teaming partners and conduct business. Providing all of the resources of a modern technology incubator, Eastern Foundry offers physical workspace, services, trainings and information that are tailored to help large and small businesses achieve government contracting success. To learn more about Eastern Foundry, visit Eastern-Foundry.com, follow us @EasternFoundry or stop by our location in Crystal City.
About Task Force X Capital Management
Task Force X Capital (TFX) is a Veteran-led advisory and investment firm focused on growing seed and early-stage Veteran businesses and startups. By properly supporting and connecting these individuals, we believe they will reach their performance goals, execute in their marketplaces, and achieve their Missions faster than their peers. Visit us at www.tfxcap.com