G.I. Joe: Valor vs. Venom is a direct-to-video CGI animated movie and sequel to G.I. Joe: Spy Troops. It was released in 2004 by Reel FX Creative Studios and distributed by Paramount Home Entertainment. Like Spy Troops, the film was written around the theme of the toys released that year. In this case, it was Valor vs. Venom which introduced a new villain group, Cobra’s V-Troops.