Activation Capital Names Paul Nolde Chair, Ending Rao's 17-Year Tenure
Richmond, Va. – September 30, 2026 -- Activation Capital, the operating name of the Virginia Biotechnology Research Partnership Authority, has elected Paul Nolde as chair of its Authority Board, succeeding Virginia Commonwealth University President Michael Rao, Ph.D., who held the role since 2009. Rao will remain an active board member.
Nolde takes over after serving as vice chair since January 2025
Nolde is President and CEO of 757 Collab and Executive Director of 757 Angels, a venture platform funding high-growth startups in Hampton Roads and across Virginia from post-ideation through seed stage. He previously served as Executive Managing Director of Richmond-based accelerator Lighthouse Labs, Fund Manager and Managing Director of Riverflow Growth Fund, a healthcare-focused seed fund, and as a director at early-stage venture firm NRV.