Veterans Don’t Need Handouts — They Need Capital: What Happens When Investors Treat Them Like Growth Partners
TL;DR — When Capital Meets Capability
A recent House hearing revealed what happens when institutions really invest in veterans: CEOs raised over $1.3 billion and created 656 jobs through a program that treats veteran founders as long-term growth partners, not token suppliers.
🔗 Full testimony: https://docs.house.gov/meetings/SM/SM00/20251210/118731/HHRG-119-SM00-Wstate-FoxM-20251210.pdf
When most Americans hear “veterans,” they think service, sacrifice, medals and memorials. But a federal hearing last month made something very clear: that’s not what veterans need to power the next economy. Capital is.
At a December 10, 2025 House hearing, testimony from the Institute for Veterans and Military Families (IVMF) dropped hard data on what happens when organizations invest in veterans’ businesses — and treat founders as true partners, not incidental suppliers.
The key line, delivered under oath:
“These results demonstrate what is possible when banks and corporations invest in veteran-owned firms not just as suppliers, but as long-term growth partners.”
This wasn’t an opinion. It was backed by numbers.
The program at the center of the hearing, CEOcircle, is powered by JPMorgan Chase and run by IVMF. It has guided 318 veteran and military spouse entrepreneurs through intensive business scaling cohorts since 2021. The output is stunning:
💰 $1.3 billion+ in capital raised by participating firms
📈 656 documented new jobs created
📊 More than half of participants report revenue growth tied directly to the program
🤝 9/10 gained advisor or mentor connections that continue beyond graduation
💵 One participant generated $50,000+ in new sales through cohort relationships alone
These are not small-business giveaways. These are growth engines.
What CEOcircle did was simple in concept — treat veteran entrepreneurs like investment opportunities and operational partners, not checklist vendors. The impact? Tangible growth, jobs, and new revenue streams.
Here’s the twist: banks and corporations don’t have to do this. Many treat veteran businesses as suppliers to fill diversity quotas or PR moments. But the IVMF testimony shows that when financial institutions treat veteran founders like long-term growth partners — with real access to capital, expert mentorship, and network opportunity — the results go far beyond goodwill.
This is exactly the kind of re-frame that powerful national observances like National Invest In Veterans Week® have been pushing for years — moving the country from thank you for your service to thank you for your economic contribution.
Veterans aren’t just a workforce demographic. They’re founders, innovators, and revenue generators.
This kind of investment model — where institutions partner with veterans for the long haul — doesn’t just help individual businesses. It reshapes local economies, creates jobs, and rewires stagnant entrepreneurial pipelines.
The House hearing made the case convincingly: you don’t need to invent new programs to “support” veterans — you simply need to invest in them the way you invest in high-growth companies.
And when that happens? The numbers speak for themselves.
Read the full 2025 hearing testimony
https://docs.house.gov/meetings/SM/SM00/20251210/118731/HHRG-119-SM00-Wstate-FoxM-20251210.pdf
