We had ported Xen ARM (PV) to BeagleBoneBlack.
Xen is an open source bare-metal hypervisor.
Xen ARM (PV) is ARM port Xen.
It doesn’t need hardware virtualization extension, because it uses para-virtualization.
If you want to know more about Xen ARM (PV),
please visit the homepage http://wiki.xen.org/wiki/Xen_ARM_(PV)