Hokie ClubBLACKSBURG – Two Virginia Tech alumni have agreed to serve as initial directors of Hokies Ventures upon its incorporation and lead the formation of the organization’s board of directors.
Hokie Ventures is a newly approved, nonprofit corporation that is established to support the long-term growth and competitiveness of Virginia Tech Athletics through modernized revenue generation, strategic investments, and athletics donor relations.
Brad Hobbs ’90, CEO of Air Control Concepts, formerly Hobbs & Associates, the nation’s largest platform of leading HVAC, electrical and controls companies, and Ted Hanson ’91, CEO and director at the technology and digital engineering company Everforth, will lead this effort, with Hobbs serving as chair and Hanson as vice chair. They will work with the Virginia Tech president, athletics director, and the Board of Visitors to identify and recruit members to the independent board, which will include ex officio university representation.
Hokie Ventures is being established to create greater flexibility and strategic agility as college athletics continues to undergo rapid transformation driven by revenue sharing; name, image and likeness, also known as NIL; media rights evolution; and changing governance models nationally. As an independent, university‑affiliated nonprofit corporation, Hokie Ventures will focus on new revenue generation and strategic investments that may be made available to support the vision and stated priorities of the athletics director and the Virginia Tech intercollegiate athletics program.
The board of directors will play an instrumental role in the selection of the corporation’s chief executive officer whose sole responsibilities will be dedicated to Hokie Ventures.
“As we continue to elevate Virginia Tech Athletics as a strategic priority, we must accelerate our competitive momentum and engage professional and business expertise to help us chart our path forward in this rapidly evolving landscape,” said Virginia Tech President Tim Sands. “These partnerships will be the foundation of our success.”
“We are committed to establishing a board of directors with individuals who bring savvy business acumen and who can help us create a more modern, business-oriented operating model aligned with the evolving economics of college athletics,” said Hobbs. “They can also help us advance philanthropic support and identify new investment opportunities to support our athletics program.”
“The directors we seek will bring capabilities and experiences to help us move more quickly in areas such as corporate partnerships, sponsorships, emerging revenue opportunities and commercial investment strategies,” said Hanson. “The establishment of Hokie Ventures puts Virginia Tech on the leading edge, creating a modern college athletics enterprise built for the future. If we are successful in doing that, it will allow the athletics department to remain focused on student-athlete support, coaching, compliance and other core athletic operations, while Hokie Ventures will focus on revenue generation, investment, and related business activities in support of those programs.”
Hobbs graduated with a bachelor’s degree in finance and later led family-owned Hobbs & Associates, which became AIR Control Concepts in 2024. Headquartered in Norfolk, AIR is a global platform of independently operated HVAC, electrical, and controls companies. Hobbs served on the Board of Visitors from 2022-2024 and is a member of the Virginia Tech Athletics Fund board of directors.
After earning his bachelor’s in accounting, Hanson worked in public accounting as a CPA before ultimately joining one of his clients, Apex Systems as its CFO, a company founded by three Hokies. Hanson helped build Apex Systems into a leading information technology staffing and services company merging it with the public company Everforth, formerly known as ASGN, in 2012. He is now the CEO and director at Everforth, a leading global provider of technology and digital engineering services. Hanson currently serves on the Virginia Tech Board of Visitors and the Pamplin Advisory Council.