Brokerage firm Liquidnet raised $500,000 Wednesday evening to aid Rwandan children orphaned during the 1994 genocide. The event is the firm’s second annual "Stand Up & Be Counted" gala.
The event, co-sponsored with the American Jewish Joint Distribution Committee, was held at the Metropolitan Pavilion in New York City. Proceeds go toward the Agahozo-Shalom Youth Village (ASYV), a residential community for 250 high school-aged orphans in Rwanda.
Liquidnet chief executive Seth Merrin’s interest in Rwanda stemmed from a lecture series he attended on genocide at his alma mater, Tufts University. There, he learned about the Rwandan situation. Merrin described it as a systemic problem requiring a large investment of time, people and money.
ASYV’s goal is to create a safe and structured residential community and infrastructure for the Rwandan orphans, Merrin said. The village will be a place of hope; it takes its name from the Rwandan word Agahozo–dry their tears–and the Hebrew word shalom–live in peace.
The village includes group homes, computer facilities, a community center and Liquidnet Family High School. The school saw its first 125 students move in December 2008 and begin classes a month later.
"We want to create lasting solutions to complex problems," Merrin said, referring to Rwanda’s orphans. "It’s a systemic problem with no solution–kids taking care of kids–and finding solutions to break this vicious cycle. This is an opportunity to affect kids’ lives and help build the next generation of Rwandan leaders."
ASYV will eventually be home to 500 children. It expects to graduate 125 students from high school each year. The community sits on a site of 58 hectares, or 143 acres, overlooking Lake Mugesera in Rwanda’s Eastern Province.
Rwanda, known as the "land of a thousand hills," is approximately the size of the state of Maryland. Uganda, Burundi, Tanzania and the Democratic Republic of Congo border the landlocked country. Its population is approximately nine million people, or almost the same as New York City, making it the mostly densely populated country in Africa.
During the course of 100 days in 1994, over 800,000 people in Rwanda were killed. The genocide left the country in ruins, and nearly 1.2 million children orphaned.
The alternative trading system raised $500,000 for Rwanda at the gala in 2009. Overall, Liquidnet has contributed $6 million to the central African country since 2007.
The firm also donates 1 percent of its total global revenues each year to charitable causes through Liquidnet for Good, the firm’s charity arm.
