Denver, Colorado, January 18, 2023 – Velocity Global and FT Partners announce a transformational gift to First Descents to further impact their work and provide life-changing outdoor adventures to adults impacted by serious disease. The two companies committed to allocate $1 million from the recently closed series B transaction.
“When Steve approached me with the idea of making a sizable donation to a charity, I knew we had chosen the right partner in FT Partners. Not only did their team quarterback this astounding capital raise, their interest in using our respective platforms for good in the world speaks to their integrity. I am incredibly grateful to Steve McLaughlin and the entire FT Partners organization and honored to be running the World Marathon Challenge on behalf of this incredible organization,” said Ben Wright, Founder & CEO at Velocity Global.
“While advising Ben and the Velocity Global Team, I learned about Ben’s passion for First Descents’ mission, and the decision to partner on this donation became a no-brainer. Thoughtful philanthropy is a key part of who we are at FT Partners, and I feel fortunate that Ben introduced us to First Descents given the tremendous compassion they have for those less fortunate,” said Steve McLaughlin, Founder & CEO of FT Partners.
The $1M unrestricted contribution is meant to pave the way for future programming, activation, and outreach for First Descents, and the communities they serve. In 2023, First Descents will administer more than 45 weeklong programs nationwide including whitewater kayaking, rock climbing, and surfing. The organization partners with over 500 hospitals, clinics, and patient advocacy groups to reach young adults (ages 18-39) coping with cancer and multiple sclerosis.
To further amplify funds and awareness for First Descents, Velocity Global Founder Ben Wright is running the World Marathon Challenge, a physical and logistical challenge that consists of running 7 marathons on 7 continents in 7 days. The event commences in Antarctica on January 31st and proceeds to Cape Town, South Africa, Perth, Australia, Dubai, UAE, Madrid, Spain, and Fortaleza, Brasil, before concluding in Miami on February 6th. Ben seeks to raise $183,000 to advance First Descents’ programming, representing $1,000 for every mile run.
“This leadership gift and Ben’s running of the World Marathon Challenge combine to greatly elevate our capacity to serve,” said Ryan O’Donoghue, CEO at First Descents. “With more than 100,000 young adults diagnosed with cancer and MS annually, the need to extend free psychosocial supportive care is great. This support will allow First Descents to address constraints in reaching more patients, enabling thousands more to experience the healing power of adventure.”
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Financial Technology Partners (“FT Partners”) is the only investment banking firm focused exclusively on providing top-tier strategic and financial advisory services to FinTech CEOs, founders and investors. The Firm offers CEOs and investors a wide array of strategic advisory services in mission-critical transactions including Private Capital, M&A, IPO Advisory, Debt Advisory, LBOs and Recapitalizations. With offices in San Francisco, New York and London, FT Partners is comprised of a team of experienced investment bankers formerly with the financial technology, M&A and investment banking groups of Goldman Sachs, Citi, JP Morgan and Morgan Stanley. FT Partners regularly publishes detailed research reports, transaction profiles, and CEO interviews highlighting key trends driving market activity across the FinTech landscape. Follow us on Twitter, connect on LinkedIn, and visit our Research page for more real time updates. Visit www.ftpartners.com for more information.