Tech Investor Pledges $10 Million for Hurricane Relief in Puerto Rico

Tech Investor Pledges $10 Million for Hurricane Relief in Puerto Rico

Private equity investor and Puerto Rico native Orlando Bravo has pledged up to $10 million through the Bravo Family Foundation for Hurricane Maria relief efforts on the island, the San Francisco Chronicle and Axios report.

What is believed to be the largest individual commitment in support of hurricane relief efforts in Puerto Rico to date includes an initial $2 million to the foundation's Podemos Puerto Rico fund in support of continuing relief efforts, and up to $8 million for long-term recovery efforts. A co-founder of Thoma Bravo, a tech-focused private equity firm, Bravo has been taking part in airlifts that have brought water purifiers and other supplies to towns along the island's harder-to-reach western coast, where his parents live.

"Our foundation's gift and efforts are focused on providing direct and targeted relief to communities in Puerto Rico that have been difficult to reach and lag in aid," said Bravo in a statement. "Through efficient use of capital, our supply chain expertise, and our knowledge of local communities in Puerto Rico where my family grew up, we believe we can make a big impact....There will hopefully be significant federal aid coming to the island. But centralized efforts, no matter how large and well-coordinated, still leave gaps....In the future, when central relief activities come to an end and the media goes home, there will be a further need for direct philanthropic efforts to help ensure the continuity of progress."

Jill Tucker. "SF Tech Investor, Puerto Rico Native Pledges $10M for Hurricane Aid." San Francisco Chronicle 09/29/2017. Dan Primack. "Private Equity Investor Commits $10 Million for Puerto Rico Relief." Axios 09/29/2017.