University Of Rhode Island: Venture Capitalist David Martirano '91 Makes Multi-Purpose $500,000 Gift To URI

Press release from the University of Rhode Island:

By Austen Farrell

May 14, 2021

David Martirano

KINGSTON, R.I. – May 14, 2021 – David Martirano ’91, a partner at a Boston-based venture capital firm, has made a gift of $500,000 for financial aid and athletics at the University of Rhode Island. Half of the gift will create scholarships in the College of Business, and the other half will help to fund a basketball practice facility for the men’s and women’s Division I teams. Along with its designated areas of support, the gift will count toward Big Ideas. Bold Plans. The Campaign for the University of Rhode Island.

The $250,000 designated for scholarships will create two endowed funds. The first will support a student from an underrepresented population, and the second, titled the Class of ’91 AMIGO OPEN Business Scholarship, honors Martirano’s friends and peers from his graduating class.

“It is inspiring to see our successful alumni create success for future generations,” said Maling Ebrahimpour, dean of the College and the Alfred J. Verrecchia-Hasbro Inc. Leadership Chair in Business. “We greatly appreciate David’s investment in the excellence and diversity of our student body.”

The other half of the gift will be used for the Soloviev Family Basketball Practice Facility, an $8-million upgrade and renovation to the University’s West Gymnasium. The new facility will provide state-of-the-art training and preparation for the men and women of URI basketball.

“David’s gift is a big step toward the completion of a new practice facility that will give our teams a competitive edge,” said Thorr Bjorn, director of Athletics. “This facility is essential as we continue to build both teams into national powerhouses.”

“I have been proud to see URI’s growing national and international reputation,” said Martirano, “and I wanted to contribute to its continued growth and development. This gift is all about giving students the chance to achieve their goals.”

In 2001, Martirano partnered with former Governor of Rhode Island Gina Raimondo (now U.S. Secretary of Commerce) and together they founded Point Judith Capital. Point Judith Capital subsequently relocated to Boston in 2011 and later rebranded to PJC. Martirano is the managing partner of PJC, a venture capital firm that invests in B2B SaaS, consumer and AI technology companies.

He graduated from URI with a B.S. in finance and received an M.B.A. from Columbia University. He is a member of the URI Board of Trustees, is a trustee of the URI Foundation & Alumni Engagement, sits on the investment committee of Lifespan, and has previously been actively involved with Year Up Rhode Island.

This press release was produced by the University of Rhode Island. The views expressed here are the author’s own.