URI gets $500K to support scholarships, basketball teams

Uri Announces Large Donation Toward Basketball Practice Facility

SOUTH KINGSTOWN, R.I (AP) — The University of Rhode Island has received a $500,000 gift from alumnus and venture capitalist David Martirano that will support academic scholarships as well as the men’s and women’s basketball teams, the school announced Friday.

Half of the gift will fund scholarships in the College of Business, and the other half will help to fund a basketball practice facility.

The $250,000 designated for scholarships will create two endowed funds. The first will support a student from an underrepresented population, and the second was named in honor of Martirano’s friends and peers from his graduating class.

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

Martirano partnered with former Gov. Gina Raimondo to found Point Judith Capital, currently based in Boston. He is currently a managing partner at what is now known as PJC.

He graduated from URI in 1991 with a bachelor’s degree in finance and received an M.B.A. from Columbia University. He is a member of the URI Board of Trustees.

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