WVJIT Direct Investment Program

WVJIT Direct Investment Program

Invests through WVJIT Direct Investment in West Virginia businesses with convertible equity or subordinated debt.

The West Virginia Jobs Investment Trust (WVJIT) Direct Investment Program is a publicly funded venture capital program established under West Virginia Code §12-7-1 et seq. and operating since 1992. WVJIT was created by the West Virginia Legislature to develop, promote, and expand the state's economy by making equity and debt capital available to eligible businesses, thereby stimulating economic growth and creating or retaining jobs within the state. WVJIT explicitly does not make grants or low-interest loans — its sole instruments are minority equity investments and structured debt.

Investments are structured as convertible preferred equity or subordinated loans with warrants or options to purchase stock. Hold periods typically run three to five years, after which WVJIT expects to liquidate its position through a company sale, merger, or securities repurchase. The fund is sector-agnostic and does not limit its investments to specific industries. Eligibility criteria include being located in West Virginia, employing a West Virginia-based workforce, and offering products or services for the benefit of the state's economy. WVJIT evaluates companies on the strength of the management team, market growth potential, product differentiation, and the opportunity to create significant employment while contributing to economic diversification. The fund acts as a minority investor and typically engages at the board level without involvement in day-to-day operations. Recent 2025 portfolio additions include AmeriCarbon Enterprises, Endolumik, EcoC2 Industries, Fides Food Service Solutions, Performance Ally, and Modulation Therapeutics.

Applications are accepted on a rolling basis using a standard investment application form available on the WVJIT website at wvjit.wv.gov. There are no competitive deadlines or annual funding cycles. Founders should prepare to demonstrate a strong management track record, a growing and defensible market position, and a clear path to liquidity within the fund's three-to-five-year horizon. WVJIT has an active governance board with monthly meetings and publishes annual investment analyses for each completed fiscal year.