FOR IMMEDIATE RELEASE April 10, 2023
Contact: Monique Adams, moniqueadams@757angelsgroup.com
Norfolk, VA – The Boards of Directors of 757 Angels, named a “Top 3 Angel Network” by the Angel Capital Association (ACA), and 757 Collab, a founder-focused incubator (757 Startup Studios) and accelerator (757 Accelerate) serving the Hampton Roads region and the Commonwealth of Virginia, are excited to announce the appointment of a new Managing Director, who will oversee the joint operations of both organizations. Paul Nolde will succeed current Managing Director Monique Adams in the role effective May 30, 2023. Adams previously announced her departure, and will assist with the transition through summer 2023, when she will step back from her role to take time to consider other opportunities in the ecosystem.
Nolde is currently the Executive Managing Director of Lighthouse Labs in Richmond, VA, a top 20 venture accelerator in the Global Accelerator Network, and the model for 757 Accelerate. Prior to Lighthouse, he served as the Fund Manager and Managing Director of Riverflow Growth Fund, a seed stage, healthcare-focused venture capital fund based in Richmond, VA. Preceding Riverflow, he served as a director at NRV, an early-stage venture capital firm also based in Richmond, VA. Earlier in his career, Nolde served in sales and strategy positions at multiple national and community banks, as well as managing the angel investment portfolio of a family office in Richmond. He is an active participant in, and advocate for, Virginia’s entrepreneurial ecosystem, serving on the boards of several regional organizations, including the Activation Council, CAV Angels, and The Launch Place Seed Fund. Additionally, Nolde serves as an adjunct professor of impact investing in the University of Virginia’s Batten School of Leadership and Public Policy.
“The opportunity to inherit and steward such a reputable brand and organization was too compelling to overlook,” notes Nolde. “Monique and her team have built and cultivated a unique model for aligning three of the most critical components of a startup ecosystem, one that is rare within the Commonwealth, but one that has put the Hampton Roads region on the national map and positioned them favorably to impact founders across the broader RVA757 Megaregion and beyond. Having partnered closely with 757 Accelerate and 757 Angels for the past several years, I am honored and excited to now call them – and 757 Startup Studios – my colleagues.”
Dr. David Levin, Chair of 757 Angels, shares Nolde’s enthusiasm for what lies ahead for startups and investors. “Under Monique’s direction, this region saw a dramatic rise in founders connecting with funders, and the foundation was built for a thriving entrepreneurial ecosystem. With Paul’s leadership and prior investment experience, this momentum will only accelerate both in investor engagement and startup success.”
Nancy Grden, Chair of 757 Collab and CEO of Hampton Roads Executive Roundtable agree., “The Hampton Roads region has a rapidly growing entrepreneurial ecosystem and major industry clusters,” she said. “ Just like we build pathways for talent, so must we build pathways to help grow and sustain young and small companies, linking resources, funding, and customer engagement. Paul’s experience, leadership, and energy will promote success for this direction.”
757 Angels recently announced its partnership with VentureSouth to bring the resources of a professionally led, early-stage venture capital firm to local Hampton Roads investors. VentureSouth, with nearly 500 members and $75M invested in more than 100 early-stage companies, has also been consistently recognized by the ACA as one of the top 10 groups in North America. “757 Angels, Powered by VentureSouth” will begin official operations on June 15, 2023. “Paul brings a commanding network of syndicate investors and deal flow to the partnership. We look forward to leveraging his experience in, and familiarity with, the Commonwealth’s diverse entrepreneurial ecosystems,” said VentureSouth Co-Founder and Managing Director Matt Dunbar.
About 757 Angels
757 Angels was formed in 2015 and seeks to catalyze the regional and statewide economy by supporting investment in startupsand early-stage companies. To date, 757 Angels’ members’ have invested more than
$100M and has been recognized as a Top 10 angel group in North America in 2019 and 2020 and a Top 3 in 2021. For more information, visit 757angels.org
About 757 Collab
757 Collab harnesses the power of 757 Angels, 757 Accelerate and 757 Startup Studios providing capital, programs and place to entrepreneurs in all stages of development. 757 Collab is located at the 757 Startup Studios within Assembly, an iconic campus for makers and creators in the heart of downtown Norfolk, VA. 757 Collab stands on values that promote an interconnected, inclusive and impactful ecosystem. These values drive the emerging Hampton Roads and statewide entrepreneurial ecosystem. For more information, visit 757collab.org
