The Community Development Venture Capital Alliance (CDVCA), a community development financial institution (CDFI) and player in the community development venture capital industry nationally, announced that local executive Myrna M. Rivera has been named to its Board of Directors.
CDVA is the manager of two venture capital fund of funds, one of which is the $45 million Puerto Rico Fund for Growth. As a CDFI, CDVCA recently received a $50 million New Market Tax Credits allocation which it will deploy throughout the United States and Puerto Rico, the agency said.
As founder of Consultiva Wealth Management, Rivera has a long-standing professional career as an institutional investment advisor and contributes valuable experience in spurring economic growth and community development through private capital investment strategies.
Rivera, who is expected to make valuable contributions to CDVCA’s decision-making processes, said “it’s a privilege to contribute my understanding of the investor mindset and help diversify CDVCA’s knowledge base and social capital as we continue to impact underinvested areas.”
Headquartered in San Juan, Puerto Rico and serving more than 120 investors on the island and in cities along the U.S. eastern seaboard, Consultiva has been recognized as a leading women-owned investment advisory firm over the last decade, and Rivera has received multiple awards for her entrepreneurial leadership and contributions to Puerto Rican and Hispanic communities.
“We’re pleased to welcome [Rivera] to the CDVCA Board,” said CDVCA Board Chair Ray Moncrief. “She is passionate about social justice and investing in the double-bottom line.”