Virginia Tech's Board of Visitors approved today the formation of Hokie Ventures with an interest-free loan of around $15 million being given to Hokie Ventures as part of its launch. VT's direct cash infusion isn't the only major money being thrown the way of Hokie Ventures as it launches to help elevate Virginia Tech Athletics and expand its financial power.
A source has told me that a donation of $50+ million from an anonymous donor is in the works for Hokie Ventures. This deal isn't confirmed to be done yet and still could fall through, but does appear to be trending in the right direction towards completion from what I've been told.
The Sons of Saturday podcast reported earlier today that Virginia Tech is set to announce the largest donation in school history from an anonymous donor. The source was unclear if this was the same donation or a separate one, but it does surpass the record of $50 million that was given to by the Fralin family to Virginia Tech's Roanoke-based medical research and $50 million from Boeing to the Northern Virginia campus.
We will have more as this story develops.
