RICHMOND – Today, the Board of Directors of Activation Capital, with the support of Activation Council – representing stakeholders and entrepreneurs in the RVA innovation ecosystem – announced the formation of the Ecosystem Direct Investment Fund (EDIF). The fund will contribute $5 million over five years into organizations who support the identified ecosystem gaps and strategies adopted by the Activation Council. As the first awardee, Lighthouse Labs – the region’s nationally‐ranked accelerator – will receive initial support of $1 million over two years to champion their continued growth and impact on new company formation.
“In support of the RVA ecosystem, we dream big and work together so amazing business ideas become a reality,” said Carrie Roth, President and CEO. “Activation Capital works collaboratively to identify and supply innovators with tools for successful business outcomes. The Ecosystem Direct Investment Fund is one tool to fuel the continued growth of our region and let the community know we believe in and support those who are willing to take a leap into the entrepreneurial journey. Our increased support of Lighthouse Labs will further advance acceleration programming to assist local entrepreneurs, attract entrepreneurs from other places, and raise the region’s profile and reputation as an emerging entrepreneur center.”