Family Office Growth News — November 2023 Edition

Welcome to the November 2023 edition of the Family Office Growth Newsletter, brought to you by Arondight Advisors . This month, we bring you:

• Series A Wealth Watch: Dive into the latest Series A funding rounds, showcasing companies that are making significant strides in their respective industries.
• Exclusive Interview with Dr. Jennifer K. Zimmons: Gain valuable perspectives from a leading figure in managing portfolio companies for Family Offices.
• Monthly Pulse: Stay updated with the latest happenings and key events in the investment community.
• Looking Ahead: Get a sneak peek into our upcoming reports, including the Legacy & Leadership Report 2023 and the Top 10 AI Titans - 2023 Report, offering a glimpse into the future of investment and technology.

Let's begin with our Series A Wealth Watch, highlighting the innovative strides and strategic growth of companies in various sectors.

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Series A Wealth Watch

In this month's Series A Wealth Watch, we delve into the latest advancements across public safety, vacation home ownership, healthcare fintech, and infusion therapy, showcasing how these innovators are reshaping their respective sectors.

Prepared — Bridging the public safety information gap

• On November 1, 2023, Prepared , a leader in public safety software, successfully closed a $16 million Series A funding round .
• Led by Andreessen Horowitz , the oversubscribed round included participation from returning investors Gradient (Google's AI-focused venture fund) and M13 , bringing the company's total funding now exceeds $30 million.
• At the heart of Prepared's innovation is their flagship product, Prepared Live. This groundbreaking technology empowers 9-1-1 centers to receive real-time livestreams, photos, and texts from emergency callers. The company's reach, further extended by offerings like Prepared OnScene and Prepared Live Enhanced, now spans 48 states, impacting over 75 million people.
• Under the leadership of CEO Michael Chime , Prepared is reshaping the technological framework for first responders, ensuring access to cutting-edge solutions.
• X-Factor: Prepared's dedication to revolutionizing emergency response through cutting-edge technology has positioned it as a key player in the public safety domain. The recent funding will fuel expansion across various departments, including engineering, marketing, sales, and product development, reinforcing its commitment to enhancing 9-1-1 services nationwide.

Summer — Revolutionizing vacation homeownership

• On November 8, Summer , a trailblazer in vacation home ownership, completed its $18M Series A round .
• Led by QED Investors and Viola FinTech , with a $50M debt facility from Setpoint Capital Limited . This funding, totaling $68M, marks a significant stride in redefining the vacation home market.
• Paul Kromidas , Founder and CEO of Summer , emphasizes the company's mission to democratize vacation home ownership.
• With this funding, Summer aims to expand nationally, offering customers a smart investment in homes they love. They will also invest in further technological advancements, focusing on proprietary acquisitions and enhancing its underwriting engine. This investment will also support Summer 's expansion into new markets, broadening its reach to more prospective homeowners.
• X-Factor: Pioneering a transformative approach in vacation home ownership by significantly reducing risks and uncertainties in the buying process, coupled with efficient management of rental operations post-purchase. This innovative model, backed by robust technological support, is reshaping the landscape of non-primary home ownership, making it a more attainable and streamlined experience for a diverse range of investors.

PayGround — Streamlining Healthcare Payments

• On November 28, Gilbert, Arizona -based fintech company, PayGround , announced the completion of its Series A round with $19.7 million .
• Led by SixThirty Ventures , this funding round includes contributions from Rally Ventures , IA Capital Group , FCA Venture Partners , and Plug and Play Tech Center .
• PayGround streamlines healthcare payments, offering a user-friendly platform that simplifies transactions for providers and patients, enhancing efficiency and ease in healthcare financial processes.
• CEO Drew Mercer's visionary leadership has been pivotal in PayGround 's rise. Drew M. 's strategic approach to simplifying the payment experience for providers and patients through their innovative app showcases his expertise in the complex healthcare payments landscape.
• X-Factor: PayGround 's journey is a prime example of investment potential in a transforming sector. The synergy of technology and healthcare, steered by a forward-thinking CEO, presents a promising path for long-term growth and impact. This capital injection is set to fuel PayGround 's expansion into hospitals and health systems, building on its success in the ambulatory market.

Local Infusion — Expanding the Infusion Therapy Market

• On November 27, Local Infusion , an innovator in the infusion therapy sector, announced securing $10 million in Series A funding.
• This round, led by blisce/ and Meridian Street Capital , propels Local Infusion into a market traditionally dominated by larger players, with a current valuation of over $100 billion.
• Local Infusion offers a patient-focused approach, providing comfortable, private settings for chronic condition infusions. The company streamlines the infusion process with a dedicated guide for care and billing, and accepts major insurance providers, including Anthem, Aetna, Humana, Medicare, and United Healthcare.
• In an exclusive interview with Axios , Local Infusion CEO Woody Baum discusses how the $10 million investment will fuel Local Infusion 's expansion, adding 16 new centers across four states, and enhance its referral and care coordination technology.
• X-Factor: Local Infusion is set to disrupt the infusion therapy sector by offering accessible, high-quality services in a market craving innovation. With its expansion and technology enhancement plans, the company is uniquely positioned to meet the growing demand for convenient, cost-effective infusion therapy solutions. With a current market value exceeding $100 billion, the infusion therapy sector is ripe for disruption, and Local Infusion is at the forefront of this transformation.

Biolexis Therapeutics, Inc. — Advancing Metabolic Drug Discovery with AI

• On November 29, Biolexis Therapeutics, Inc. , an American Fork, Utah-based AI-driven drug discovery company, has successfully completed a $10 million Series A funding round .
• The round was led by Clarke Capital Partners , and marks a crucial step in the company's journey towards revolutionizing the treatment of metabolic disorders.
• Under the leadership of CEO David Bearss Ph.D. , Biolexis is committed to addressing the unmet needs in the metabolic disorder spectrum. The company plans to use the funding to advance its innovative drug discovery pipeline.
• Biolexis Therapeutics is a clinical-stage biopharmaceutical company focused on developing small molecules for a diverse range of diseases, including cancers, immune-mediated, neurodegenerative, autoimmune, metabolic, and inflammatory conditions.
• X-Factor: Biolexis' AI-based approach that streamlines the drug development timeline. The company has filed over 20 Investigational New Drugs (INDs) and holds more than 100 patents, with numerous active programs in various development stages. The development pipeline includes a variety of promising drugs aimed at combating metabolic disorders, which are linked to major health issues like obesity and diabetes.

Are you a Seed, Venture, or Series A founder with a compelling story to tell? DM Ryan Austin now for a chance to be featured in our next edition.

Shifting our focus from groundbreaking advancements in the biopharmaceutical sector, we now turn to this month's feature with Jennifer K. Zimmons, Ph.D. , who shares her expert perspectives on the evolving dynamics of the investment world.

Mastering Investor Relations: A Discourse with Dr. Jennifer K. Zimmons

I had the pleasure of speaking with Jennifer K. Zimmons, Ph.D. , a key figure in managing the investor relations activities for the portfolio companies of Family Offices in her role as president of Zimmons International Communications Inc. (ZIC). Her New York-based firm is distinguished for its tailored approach to supporting international companies and Family Office investments in various sectors.

Beyond her business acumen, Dr. Zimmons champions the advancement of women in the life sciences as the Program Chair for Women In Bio - Engage. Educate. Empower. (WIB-New York Chapter), and contributes her time and expertise as an advisory board member to a veteran-owned Family Office.

Her strategic communications and investor relations skills are in high demand among Family Offices and their portfolio companies, assisting them in broadening their awareness and insights in financial and industry markets. Dr. Zimmons’ commitment to attending industry events, coupled with her routine one-on-one meetings, has cultivated a world-class rolodex of highly sought-after contacts.

This puts Dr. Zimmons in the unique position of serving as an integral component in bridging the gap between emerging companies and the investment community:

“I treat this practice like an exercise regime. I strive to be out and about, or at least meeting up with someone, at least five times a week.?While it may sound daunting for some, I find it a fun way to break up the work day, maintain business friendships, and gather new insights.”

Professional Integrity and Ethical Selection

Dr. Zimmons underscores the importance of aligning professional endeavors with personal ethics, especially in sensitive sectors. Her approach to selecting projects is guided by a principle of integrity, ensuring her work reflects her values.

"Maintaining a core value system has been a really big benefit because people know there are no surprises."

This mindset is crucial in maintaining a clean, respectable reputation in the industry and underlines the long-term benefits of refusing projects that don't align with her standards.

Precision in Investment Decisions

Dr. Zimmons emphasizes meticulous due diligence and careful consideration when introducing her clients (portfolio companies of Family Offices) to other families and larger financial groups for investment consideration.

She pre-vets the backgrounds and investment styles of potential investors to ensure that new introductions are a fit. Before each introductory meeting, Dr. Zimmons debriefs her clients on who they will meet and any additional insights that can help create a more amicable rapport.

“You would be surprised at how small bits of information such as where someone grew up, what charities they support, and favorite hobbies can play a role in building a bond."

Strategic Networking and Relationship Building

Dr. Zimmons highlighted the importance of strategic networking in establishing meaningful connections, emphasizing the role of personalized settings alongside large conferences.

“I have a personal passion for art and culture, and I find that extending these invitations to business friends creates a nice bond. Everyone, including me, comes away with an enlightened appreciation of the experience. To this point, I encourage people to utilize their own style and favorite venues as a backdrop for their networking.”

Excellence in Event Organization

Dr. Zimmons provides invaluable advice for organizing professional events, emphasizing the guest experience, meticulous attention to detail, and ensuring each event is memorable and impactful.

This starts from the initial invitation all the way through to the gift bag and post-event thank you note. "Think of the best events you've been invited to and identify what aspects made you feel the most special and appreciated," she advises, emphasizing the guest experience.

Investor Relations and Branding Insight

In investor relations, Dr. Zimmons’ central tenants are organization, transparency, and consistency. Her approach ensures clear communication and a unified brand image across all platforms. "Be as organized and transparent as possible," she suggests, emphasizing the need for clarity in communication and brand cohesion.

Additionally, she advocates for comprehensive information management, ensuring that all company details are complete and accurate across various platforms.

“Even when it comes to meeting a potential client - before I become officially engaged - I review whatever information I can find both directly from the company and from third-party outlets to double check for accuracy. It is just a habit I have.”

Leveraging Gratitude in Professional Relationships

Dr. Zimmons stresses the importance of expressing gratitude and following up on introductions and connections. This practice has helped her in nurturing long-term professional relationships.

“You would be surprised what a nice impression a ‘Thank You’ or ‘Nice to Have Met You’ follow-up note can have in terms of keeping the new business meeting memorable. In addition to the new connection I just made, I find it equally important to write a 'thank You’ note to the person who initiated the introduction. I want that person to know that I value their support in opening up new opportunities for business, collaboration, or just simple professional camaraderie.”

Philosophy of Exclusivity and Personalized Service

Dr. Jennifer K. Zimmons emphasizes a business philosophy centered on delivering exclusive, high-quality services with a deep commitment to personalized client support. "Exclusive contacts, concierge services - it's worth the investment," she remarks, highlighting the bespoke nature of her approach.

As a proactive corporate ambassador and advisor, she goes beyond conventional roles, engaging in meticulous due diligence and insightful, on-the-ground representation. Dr. Zimmons explains, "If you work with me, consider me as an extension of your team, and it's my job to find you value-added investors."

Closing Reflections and Future Collaborations

Concluding our discussion, Dr. Zimmons reflects on the crucial interplay of professionalism and integrity in her career. "The decisions you make today shape your reputation for years to come," she remarks.

Those interested in connecting with Dr. Zimmons for potential collaborations or insights can find her on LinkedIn or reach out through her firm, Zimmons International Communications, Inc. Her commitment to building and nurturing professional relationships is evident in her willingness to engage with like-minded professionals and organizations.

Family Office Monthly Pulse: November 2023

Let's delve into this month's key insights, starting with a newly premiered TEDx talk featuring Family Offices.

1. What is a Family Office and Why Does it Matter? | Ron Diamond | TEDxDavenport

Ronald Diamond , the Founder and Chairman of Diamond Wealth , and leading voice in the world of Family Offices, shared his insights at TEDx Davenport. This enlightening session provided a deep dive into the strategies and challenges facing Family Offices today.

Key highlights:

• Adapting to change: Emphasizing the need for Family Offices to stay agile and adapt to the rapidly changing investment environment.
• Technological advancements: The impact of emerging technologies on investment strategies and how Family Offices can leverage these for growth.
• Sustainable investing: The growing importance of ESG (Environmental, Social, and Governance) factors in investment decisions and portfolio management.
• Global trends: Insights into global economic trends and their implications for Family Offices.
• Future outlook: Ron Diamond's predictions for the future of Family Offices and how they can prepare for upcoming challenges.

Ron Diamond's talk is a must-watch for anyone involved in Family Offices, offering a comprehensive overview of current trends and future directions.

?? Watch the full talk on YouTube

2. Trends in U.S. Single Family Office Legal Structures | Angelo Robles and Richard LeVine | Family Office TV

Earlier this week, Angelo Robles hosted another episode of Family Office TV , featuring guest Richard LeVine , Senior Counsel at WITHERS BERGMAN LLP . The live stream provided a deep dive into the complexities and nuances of Family Office management.

Key Takeaways:

• A solid legal foundation: The legal framework of a Family Office is fundamental for tax optimization and business efficiency, shaping the office's operational effectiveness.
• Impact of the Lender Family Case: This case has set a significant precedent in defining what constitutes a trade or business for Family Offices, guiding legal and operational strategies.
• Portfolio diversification: Creating multiple portfolios to cater to the varied financial goals of family members is essential for effective wealth management.
• The role of non-family members: Careful consideration is needed when involving non-family members in Family Offices, especially regarding their equity interests and decision-making roles.
• Navigating IRS scrutiny: With the IRS intensifying its examination of Family Offices, maintaining detailed documentation of business activities is crucial to demonstrate legitimate trade or business engagement.

Achieving success in this arena demands a mix of legal knowledge, strategic financial planning, and a commitment to continuous learning and improvement. Richard LeVine is a wellspring of information for those seeking further expertise in Family Office management.

?? Watch the full episode on YouTube

?? Don't miss out on next month's pulse! Subscribe now.

Arondight Advisors' Year-End Features

Legacy & Leadership: Family Office Impact Investing Report

In partnership with Family Office List , Arondight Advisors presents the Legacy & Leadership - 2023 Report, a comprehensive exploration of impact investing in the realm of Family Offices and UHNWIs.

The Legacy & Leadership report will be shared on LinkedIn Tuesday, December 5, at 9 AM ET.

This groundbreaking report delves into emerging trends, technological advancements, and generational shifts that are shaping sustainable investment strategies.

• It highlights the pivotal role of Family Offices in aligning investments with societal needs and sustainable goals, representing a significant shift in modern investment approaches.
• Featuring invaluable insights from Arondight Advisors ' Round Table Network, including Ronald Diamond , Julia Valentine , Danielle Patterson , and Jennifer K. Zimmons, Ph.D. , the report presents a rich blend of expert opinions, in-depth case studies, and trend forecasts.
• The report also features standout Series A companies such as Biodel AG , a leader in regenerative agriculture, and Pano AI , which is revolutionizing wildfire detection with AI technology.
• Readers can expect a comprehensive analysis, offering actionable insights and thought-provoking perspectives to navigate today's complex investment landscape.

"Top 10 AI Titans" 2023 Report: Coming in December

Arondight Advisors is excited to announce the upcoming release of the Top 10 AI Titans: Series A Companies Leading 2023 Report, scheduled for publication on Tuesday, December 21, 2023.

This report is set to spotlight the year’s most innovative AI companies, building anticipation for their groundbreaking advancements.

The Top 10 AI Titans, which include trailblazers like Numa and Cleanlab , are selected based on their innovative solutions in AI, the leadership team, and for demonstrating significant impact on industry, governance, environmental, and social issues.

The report will include valuable insights from Arondight Advisors' Round Table Network, industry experts, and members of Arondight's active Family Office and UHNW community, providing a well-rounded perspective on the AI landscape.

The top 10 winners will be featured in a special press release and receive extensive coverage in the Family Office Growth Newsletter. This is more than just a feature; it's about strategically positioning companies to capture the attention of those with the capital to fuel innovation and growth.

?? Stay tuned for future updates and reports by subscribing to our newsletter and following Arondight Advisors

Closing

As we close this November 2023 edition of the Family Office Growth Newsletter, we reaffirm our commitment to illuminating the paths of innovation and investment.

Thank you for joining us on this insightful journey through the latest Series A advancements, expert perspectives, and a glimpse into the transformative world of AI and impact investing.

Your voice matters. We invite you to contribute to the conversation, either in the comments section below or by reaching out to Ryan Austin via DM.

We look forward to continuing our mission of guiding Family Offices to Series A Success Stories in our upcoming December 2023 edition, where we will unveil more cutting-edge analysis and exclusive opportunities.

Stay connected, stay informed, and stay warm as we enter the holiday season.

Thank you for reading.

Best regards,

Ryan Austin

Founder & CEO, Arondight Advisors

Email: [email protected]

Disclaimer:?This publication is created and distributed by Arondight Advisors and may not be construed as investment advice. This newsletter does not provide an analysis of any company’s financial position and is not a solicitation to purchase or sell securities in any company. Arondight Advisors an investment research and marketing firm, and not a registered broker dealer.