VeraCrypt is a fork of Truecrypt which increases the number of rounds of hashing that is done on the partition container. What occurs normally in truecrypt is that when a password is first entered it's hashed and the result of that hasing algorithm is then hashed again and so on, 2000 times.
This means if you want to test a password to see if it opens the container header then you have to hash the plaintext 2000 times. With VeraCrypt that's increased significantly up to 655331, it means that brute force attacks which attempt many password combinations in quick succession are slowed down, in this case by approximately 330x slower.
This is only helpful if you picked a weak password, a strong password will already have a character space that is unfeasible to brute force to begin with, if you're hell bent on using weaker passwords then VeraCrypt might be helpful
In all other regards, near as I can tell, it's a straight fork of TrueCrypt so it's not a good replacement if you're concerned about security. The audit of TrueCrypt revealing no significant crypto weaknesses is a good indicator it's currently fit for purpose given the original guidelines for use.