West Virginia Jobs Investment Trust

Established in 1992, the West Virginia Jobs Investment Trust (WVJIT) is a public venture capital fund dedicated to fostering economic development within the state. Its mission is to stimulate growth and job creation by providing investment funds to eligible businesses, thereby promoting the expansion of West Virginia's economy. WVJIT focuses on supporting companies that demonstrate strong management teams, innovative products or services, and the potential for significant growth.

WVJIT's investment strategy encompasses a broad spectrum of industries, including technology, healthcare, manufacturing, biotechnology, life sciences, financial services, and software as a service (SaaS). The fund is open to various investment structures, such as convertible preferred equity or subordinated loans with warrants or options to purchase stock. Investments are typically short-term, ranging from three to five years, with the expectation of liquidation through company sales, mergers, or repurchase of securities.

As of June 2024, WVJIT has invested nearly $7 million across 16 companies, resulting in the creation of 191 full-time and 4 part-time jobs. The fund's approach emphasizes active partnership with portfolio companies, offering strategic guidance, industry knowledge, and team-building support to enhance their growth and success. This collaborative model underscores WVJIT's commitment to transforming entrepreneurial visions into reality and contributing to the economic vitality of West Virginia.