By the Virginia Company's Third Charter in 1612, the boundaries of the new colony were extended to include Bermuda. The company sent a party of 60 new settlers to Bermuda to join the three men left behind by the "Sea Venture." After a brief period in nearby St. David's, the settlers started building at St. George's. By 1615, the shareholders of the Virginia Company created a second company, the Somers Isles Company. It managed Bermuda separately until the company was dissolved in 1686. The Virginia Company was later dissolved in 1624. 