The Virginia Company of London was formed through a royal charter granted by King James I of England, with the primary aim of establishing colonial settlements in North America. The charter allowed the company to explore, settle, and trade in North America, particularly in the region known as Virginia. Investors in the company were motivated by potential profits from the natural resources of the New World, including gold and silver, as well as the lucrative trade in tobacco. The company gathered support from both financial backers and patrons within the English crown, which provided legitimacy to their venture.

After the charter was granted, the Virginia Company began organizing expeditions to establish a foothold in North America. One significant outcome of their efforts was the establishment of the Jamestown settlement in 1607, which became the first permanent English settlement in the Americas. Despite facing numerous challenges, including disease, famine, and conflicts with Indigenous peoples, the Virginia Company laid the groundwork for further English colonization and the eventual expansion of British influence in the New World.

The establishment of the Virginia Company marked a critical turning point in the history of English colonialism. It initiated an era of exploration and settlement that would expand across North America, introducing new cultural dynamics, economic practices, and ultimately leading to significant changes in both the European and Indigenous ways of life. The company's early struggles and successes would influence subsequent colonial endeavors, setting precedents for governance, land claims, and trade in future colonies.