The new Piaker Family Scholarship Challenge will expand undergraduate financial aid

This matching challenge will inspire a new wave of philanthropy and generate up to $3 million in student support.

Randi and Steve Piaker

Rochester Trustee Steve Piaker ’84 and his wife, Randi, have committed $1 million to launch a new scholarship challenge benefiting undergraduates at the University’s Hajim School of Engineering & Applied Sciences and School of Arts & Sciences. The Piaker Family Scholarship Challenge has the potential to generate up to $3 million in financial aid for students with demonstrated need.

The Piaker Challenge is designed to spark generosity and amplify impact through matching gifts—encouraging others to start endowed scholarships of their own. For each new endowed scholarship that qualifies, matching funds will be added to increase the total scholarship value. For example, if a donor contributes $100,000, the Piaker Challenge will contribute an additional $50,000—bringing the fund total to $150,000. Likewise, if a new donor makes a $67,000 commitment, the Piaker Challenge will add $33,000, for a total value of $100,000. Each year, a portion of the fund’s value will be used to provide student aid, ensuring ongoing support, while the principal remains invested to benefit future generations.

“We are grateful to the Piakers for making this generous gift and inspiring others to give too,” says Rob Alexander, vice provost and University dean of enrollment. “Because of the Piakers’ leadership—and the support of others who will join them—many students will receive the financial aid they need to access a Rochester education, now and for years to come.”

“Like so many other alumni, my time at Rochester was truly transformative,” says Steve. “It was—and still is—a special place for me. Randi and I are honored to make this gift knowing it will serve as a force multiplier. Establishing a matching fund is a powerful way to help others maximize the impact of their giving. Together, we can support even more students.”

A legacy of student support

Steve and Randi have a long history of supporting Rochester’s undergraduate students. In 2020, they established an endowed scholarship through the Nataraj Scholarship Challenge, an initiative launched by Rochester Trustee Naveen Nataraj ’97 and his wife, Courtney, during the COVID-19 pandemic. Within a year, that challenge raised $2.6 million and created 22 endowed scholarships—illustrating the power of matching challenges. “It’s our hope that this new challenge will have a similar impact,” says Steve.

The Piakers have also supported students through the Brady Scholars Program, established by Elizabeth Pungello Bruno ’89, another Rochester trustee and alumnus as well as a parent of a Rochester graduate. This is one of the University’s premier scholarship programs, providing ongoing financial support and individual academic advising, peer mentoring, and special academic and social opportunities.

“Rochester students share an ethos,” adds Steve. “It’s a real community here, full of young adults with a passion for learning—students who are intellectually curious, socially engaged, and rooting each other on. It’s a privilege to make a gift that adds to this momentum.”

Another inspiration for the couple’s support is Steve’s father. “As a World War II veteran and son of immigrants, he was only able to go to City College in New York because it was free,” says Steve. “He was always grateful for that opportunity and worked so hard to provide for his family and give back to the community supporting innumerable causes. My parents sacrificed a lot to ensure that my brother and I could attend a university of our choice. Attending the University of Rochester and graduating without a mountain of debt was a privilege. Underwriting this challenge—and providing financial assistance to students over the years—has been a meaningful way for Randi and me to honor my parents while helping students realize their full potential.”

Committed to excellence and education

Steven Piaker is co-founder and managing partner of Ten Coves Capital, a financial technology- focused growth equity firm based in Darien, Connecticut. He has more than 30 years of experience investing at the intersection of technology and financial services. Before forming Ten Coves, he served as co-head of Napier Park Financial Partners, was among the founding partners of Napier Park Global Capital, and served as managing partner at CCP Equity Partners. He also held various investment positions with Conseco Inc., GE Capital’s leveraged buyout division, and Chase Manhattan Bank. Steve received a bachelor’s degree in economics from Rochester and an MBA from Duke University’s Fuqua School of Business, and he holds the Chartered Financial Analyst designation.

Steve has served on the University’s board of trustees since May 2024 and is a member of its investment committee. A former trustee of the Jewish Community Foundation of Greater Hartford, he serves on the boards of Cassini Systems Limited, Inbox Health Corp., PointPredictive, Inc., and Steeleye Limited. The Piakers are longtime members of the George Eastman Circle, the University’s leadership annual giving society.