Private equity firm Rockbridge Capital LLC is doing its bit to raise money for cancer research, raising a total of $1.4 million from annual fundraisers.
This year, the firm's fifth-annual Rock the Road conference — as well as money raised by Rockbridge's cycling team members — raised a total of $800,000. That amount came from conference attendees, sponsorships and individual rider fundraising for Pelotonia, an annual cancer research cycling fundraiser in August in Columbus, Ohio.
“As such a small company with less than 100 employees, this feat is momentous,” spokeswoman Lauren Smith said in an e-mail, referring to organizing a large donation.
Rock the Road is a leadership conference to bring real estate industry and other business leaders together with the goal of ending cancer by funding research. Conference attendees are encouraged to stay one day after the conference to participate in the Pelotonia bike ride. Rockbridge provides each team member with a high-end road bike, team jersey and helmet.
Rockbridge started Rock the Road as an opportunity for the hospitality industry, which is primarily where Rockbridge invests, to contribute to cancer research, said Jim Merkel, Columbus, Ohio-based Rockbridge CEO in a written statement.
“Our goal of disrupting the industry by incorporating good business, personal fulfillment and giving back — all to reach a higher purpose — is well underway,” Mr. Merkel said.
Rockbridge has close to $2 billion in assets under management.