The scheme allowed Live Well to grow its bond portfolio exponentially, from approximately 20 bonds with a stated value of $50 million in 2014 to approximately 50 bonds with a stated value of $500 million by the end of 2016. In May 2019, in conjunction with an effort to wind down the company, Live Well wrote down the value of its portfolio by approximately $141 million.
The three organizations were selected from NPO Launchpad’s online pitch competition, which received 29 applicants. In addition to receiving hands-on mentorship from leaders in Richmond’s entrepreneurial, business and nonprofit communities, the cohort will utilize coworking space at VCU da Vinci Center.
“Black business, Black culture, and Black creative expression continue to flourish in this region, making it more vibrant than ever before,” says advisory board chair Enjoli Moon. “The Black experience in Richmond is rooted, yet rising—this is a place where we connect with our past, celebrate the present, and look toward a bright future.”