Family Office Growth News — October 2023 Edition
Ryan Austin
CEO at Arondight Advisors | Strategic Advisor at Family Office World Media | Connecting Founders with Family Offices | Nasdaq.com Contributor
Welcome to the October 2023 edition of the Family Office Growth Newsletter, your monthly source for the most compelling stories, insights, and investment opportunities in the Series A landscape. As we navigate the final quarter of 2023, here's what's on the agenda:
Let's kick things off with our signature segment, Series A Wealth Watch.
If you're interested in staying up-to-date on Family Office and Series A insights, subscribe to our monthly newsletter.
Series A Wealth Watch
In this section, we continue our focus on pivotal moments in the Series A funding landscape. From healthcare solutions to AI-driven platforms, we bring you the most compelling investments that have closed this past month.
Cleanlab — Solving AI Model Data Mess
The X-Factor: Cleanlab's top-tier leadership and focus on resolving the data mess in AI models makes it a standout in a crowded space. The company aims to increase the dollar value of every data point in enterprise solutions, ensuring high-quality data for better decision-making.
Atana Inc — Pioneering Behavioral Change Through AI-Driven eLearning
The X-Factor: Atana Inc's focus on AI-driven eLearning and behavioral change, backed by science and analytics, makes it a compelling investment opportunity. The successful closure of their Series A financing and the rebranding efforts indicate strong investor confidence and a clear vision for the future. The funds will be used to amplify Atana's market presence as it transitions into a SaaS provider, focusing on redefining workplace learning.
Nucleus RadioPharma — Expanding Radiopharmaceutical Treatments for Cancer
The X-Factor: Nucleus RadioPharma is making strides in the health tech space by focusing on the expansion of radiopharmaceutical treatments for cancer patients.
Greater Good Health — Revolutionizing Value-Based Senior Care
The X-Factor: Based in El Segundo, CA, Greater Good Health is addressing the growing need for primary care providers among the aging U.S. population. The startup is pioneering a nurse practitioner-led model, enabled by recent legislation in several states.
Are you a Seed or Series A founder with a compelling story to tell? DM Ryan Austin now for a chance to be featured in our next edition.
As we transition from the October 2023 Series A Wealth Watch, we're taking a detour to Q1 of 2022. This refresher sets the stage for our exclusive interview with Dr. Jane Thomason.
Stay tuned for an enlightening dialogue that promises not only to inform but also to deepen your understanding of transformative technologies that are reshaping our world.
A Refresher on the State of the Digital Asset Economy
Since Bitcoin entered the mainstream consciousness, the story of digital assets has been one of dramatic highs and lows. During the highs, innovative projects blaze forward and their leaders are deified.
During lows, the entire market takes a beating, and founders and executives are forced to defend bad actors who have harmed the industry.?
From January to February 2022, the digital asset markets were enjoying all-time highs. At a market cap of around $3 trillion, crypto was everywhere: billboards, TV, Super Bowl Commercials, etc. Sports stadiums were being renamed for the top Crypto companies.?
Beware the Ides of March
In March 2022, beginning with the interest rate hikes from the Fed, other macroeconomic factors lent themselves to a loss of confidence in digital assets: including a global economic slowdown and Russia’s invasion of Ukraine.?
This, and other additional factors, culminated in the collapse of FTX, and subsequent Bankruptcy filing in November 2022. The fall of FTX marked the onset of the bearish “crypto winter” market, which persisted well into 2023.
Navigating the Digital Horizon: A Dialogue with Dr. Jane Thomason
This month, we delve into the expansive realm of emerging technologies with Dr. Jane Thomason, a prominent figure in the fields of Web3, Metaverse, Health tech, and Tech for Sustainability.
Her roles on the editorial boards of "The Journal of Metaverse" and "Frontiers in Blockchain," alongside an active association with UCL Centre for Blockchain Technologies (CBT) , exemplify her dedication to advancing knowledge in these domains. Author of pivotal works like “Blockchain for Global Social Change," she's a trusted advisor to industry and government entities, translating complex tech concepts into accessible insights.
As the Chair of Kasei Digital Assets PLC , listed on London's Aquis Exchange, Dr. Thomason steers the firm towards harnessing decentralized technologies, reflecting her strategic foresight in the field. Her prestigious recognitions, including "Web3 Leader of the Year" by AIBC Eurasia, and features on platforms like CNN , underline her significant contributions to the tech landscape. A charismatic speaker and visionary, Dr. Thomason engages with those keen on exploring technology for social impact and the decentralized future.
Origin story
Dr. Thomason’s venture into the blockchain arena sparked around 2010 when her son introduced her to Bitcoin, but it was around 2016-2017 that her deep dive began. She shared, “I got serious about it in about 2016-2017, and ended up buying a company that ran London Blockchain Week and London Fintech Week in 2018.”
Resilience in the Digital Asset Ecosystem
In our conversation, Dr. Thomason shed light on the recent tribulations and transitions within the digital asset market.
Dr. Thomason explains, “It's been a very difficult time for the market... serious people who are building really interesting projects with utility have been tagged by the same brush as FTX. It's a difficult time for digital assets.”
The market has seen waves of ICO hype, NFT buzz, and DeFi enthusiasm, each followed by a cool-off period. The cycle of boom and bust isn't new but is somewhat characteristic of emerging and rapidly evolving markets. Amidst these cycles, the serious players keep building, driven by a longer-term vision beyond immediate market reactions.
Dr. Thomason noted, “I just came back from London... We were at a Web3 event and the sentiment was a bit somber. That euphoria of 2021 and 2017 is just not around at the moment. I don't think that's a bad thing.”
Survival of the Fittest: How Hard Times Reveal True Innovators
Despite the somber market sentiment, there’s a silver lining. The down cycles often sift out the transient players from the steadfast builders. Those with substantial projects continue to build as long as their financial runway permits, demonstrating a commitment that transcends market whims.
Dr. Thomason remains optimistic about the digital asset realm, stating, “Our Investment Committee is getting more optimistic about where the future is going... we're committed, we have intention. We're all investors. And we think that this is a very important asset class, and it's worthy of the attention that we've given it.”
Kasei Holdings: Bridging Traditional and Emerging Financial Landscapes
Dr. Thomason shared her engagement with Kasei Holdings, emphasizing the ethos of long-term investment in projects with future utility.
Kasei Holdings PLC, under the leadership of Dr. Thomason, offers a distinct opportunity for Family Offices, HNWIs, and institutional investors seeking to diversify into digital assets. The firm applies traditional financial valuation metrics in a digital context, unveiling market inefficiencies and arbitrage opportunities while focusing on long-term growth.
Established in 2021 and listed on London's AQSE Growth Market, the firm strategically invests in decentralized platforms and emerging protocols. With a seasoned team holding over a century of combined experience in Venture Capital, Investment Management, and Decentralized Technologies, Kasei Holdings navigates both traditional and emerging financial landscapes, aiming to capitalize on disruptive innovations in this dynamic arena.
A Maturing Industry
Dr. Thomason elaborates on the nuances of integrating blockchain technology within traditional financial structures. The discourse unveils the delicate balance of maintaining regulatory compliance while fostering innovation, a mantra that resonates well with Family Offices keen on traversing this digital pathway.
Despite the appeal of Blockchain, Digital Assets, and Web3, the lack of accessibility poses a major issue for most retail and institutional investors.
This blend with traditional sectors is seen as a natural evolution rather than a disruptive force. The early skepticism from traditional financial circles is giving way to a keen interest in exploring the applications of these emerging technologies.
The Metaverse: A New Realm of Opportunities
Dr. Thomason articulates, "Metaverse isn't a single thing. It's kind of a concept and it's an immersive, always-on environment." She opines that while Big Tech would likely craft immersive experiences, their approach might be swayed by an extractive business model, contrasting the ethos of Web3, which envisions an open, decentralized Metaverse.
The conversation steered towards the potential of immersive technologies in bridging accessibility gaps.
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Dr. Thomason shared an illuminating scenario, "Simple things like old people who can't get in a car and drive down to City Hall to get their driver's license or register for some sort of service, are going to be able to do it from home, not be so socially isolated."
The ripple effects extend to mental health, education, and even mobility in the Metaverse, opening doors to innovative customer engagements for industries like automotive.
Shifting Wealth, Emerging Values
When asked about the $84 trillion generational wealth transfer taking place in the next decade, Dr. Thomason touched on the emerging trend of impact investing and sustainability. She considered not only the Millennials and Zoomers, but the new “Generation Alpha.”
A reflection of changing attitudes, Dr. Thomason observes, "There's a lot of young people who are the heads of family offices that want to drive an impact." She passionately expounded on blockchain's role in accelerating climate action, emphasizing the pivotal juncture we're at in leveraging these technologies for broader societal benefits.
As Dr. Thomason divulged her involvement in a groundbreaking UN Environment report in West Asia , the conversation encapsulated the transformative potential of digital assets, blockchain, and the Metaverse in tackling pressing global challenges.
"These younger generations have grown up being immersed in digital worlds and with digital opportunities. Their interests and their expectation of companies, of products, of how they're going to engage with products is going to be very different from the older generations. They won't necessarily want to own cars. They'll just want to be able to experience the car.”
Web3: Spearheading Socio-economic and Environmental Change
Dr. Thomason's love for Web3 technologies stems from their potential to significantly impact and contribute to the major social, environmental, and economic issues. Her endeavors span developing an educational course on blockchain for climate action and authoring a book elucidating the advancements in Web3, particularly focusing on sustainability and climate action.
"This is why I got into blockchain and digital assets and Web3. I really believe that we have the opportunity with these technologies to impact and contribute to major social, environmental, and economic issues of our time," she passionately remarked.
Dr. Thomason's narrative underscores the scalability of Web3 technologies as a crucial factor in amplifying their impact, from facilitating investments in green energy to refining voluntary carbon markets.
"Technology enables us to dream about that work and figure out how to solve it... thinking about how you get that investment, for example, into green energy and scalable renewables or distributed energy grids. There's still a lot of work that needs to be done, but technology provides the tools to actualize those solutions," Dr. Thomason emphasized.
Philanthropic Transparency Through Blockchain
The conversation transitioned to philanthropy, shedding light on blockchain's promise to amplify transparency and efficiency within charitable endeavors.?
“If I was a family office, I'd be asking myself: How can I be sure that my money is having the impact that you know, I wanted it to have and be able to consistently have a look and see what's going on with those contributions that I've made. I think that that's a very serious use case.”
The technology’s ability to trace, verify, and directly channel resources to intended beneficiaries, bypassing layers of middlemen, presents a compelling use case. This section delved into the practical ways blockchain could revolutionize the philanthropic efforts of family offices, making a more direct and measurable impact.
Concluding Remarks
In a market often swayed by hype, Dr. Thomason emphasizes the importance of steadfast focus and informed decision-making. As the ecosystem matures, serious builders and discerning investors remain, contributing to a more stable market. For Family Office heads and UHNW investors interested in blockchain and Web3, Dr. Thomason recommends investing in credible research and seeking expert advice.
Dr. Thomason’s insights serve as a grounded perspective amidst the ever-evolving digital asset landscape, illuminating the pathway for the cautious yet curious investor.
For more of Dr. Jane Thomason's insights, subscribe to her Newsletter: The Wonderful World of Web 3.0 .
You can also visit her website: https://drjanethomason.net .
Family Office Monthly Pulse: October 2023
Let's delve into this month's key insights, starting with a new exit strategy trend that's catching the eye of business owners.
1. Family Offices Could Emerge as a Valuable Exit Option for Owners ????
Chad Fox , Advisor at F Partners , recently shared an article that sheds light on how family offices are becoming a valuable exit option for business owners looking to sell.
The article suggests that family offices offer a unique blend of long-term investment horizons and operational expertise, making them an attractive alternative to traditional exit strategies like IPOs or strategic acquisitions.
This trend is particularly noteworthy as it opens up new avenues for family offices to diversify their portfolios while offering business owners a more personalized exit strategy.
2. The Rapid Growth of Family Offices: Should You Join the Movement? ????
Professor Ari Zoldan 's recent article on Nasdaq delves into the explosive growth of Family Offices, emphasizing their collaborative environment and adaptability. The article suggests that the surge in Family Offices shows a significant shift in how wealth is managed and invested.
Family Offices are not just diversifying their portfolios; they're also becoming more sophisticated in their approach. From a focus on fixed income and private equity to the challenges and opportunities in direct investing, the families adopting institutional strategies are going to rise to the top.
3. The Future of Investment: A Deep Dive with Angelo Robles and Rebecca Patterson
Rebecca Patterson, former Chief Investment Strategist at Bridgewater Associates , joined host Angelo Robles on an engaging episode of FamilyOfficeTV to discuss tactical considerations for Family Offices in the macro and geopolitical environment.
The podcast episode offered a comprehensive look into the future of investment, technology, and the role of Family Offices. Key takeaways include:
Don't miss out on this enlightening conversation that covers everything from investment strategies to the future of technology.
4. Arondight Advisors Unveils the AI Titans of 2023: The Top 10 Series A Companies You Need to Know ????
Arondight Advisors is delighted to mention our upcoming, highly-anticipated report, "2023's AI Titans." This initiative is enriched by the collective wisdom of our Round Table Network, an esteemed group of industry pioneers, Family Offices, and investment professionals.
Our selection is rooted in four key criteria:
Keep an eye out for the full report in December 2023. The Series A AI Titans we've identified are transformative forces set to make a significant real-world impact across various sectors, from healthcare to environmental sustainability.
?? Don't miss out on next month's pulse! Subscribe now.
Closing
This marks the end of the October 2023 edition of Family Office Growth Newsletter. From the Series A Wealth Watch to our digital asset ecosystem refresher, and not forgetting our forthcoming "2023's AI Titans" report, we've covered a lot of ground.
We are especially privileged to have shared the profound insights of Dr Jane Thomason . Her perspectives offer a grounded yet visionary outlook, illuminating the path for both seasoned and aspiring investors.
Your voice is invaluable to us. We invite you to contribute to the conversation, either in the comments section below or by reaching out to Ryan Austin via DM.
We eagerly await the opportunity to bring you more groundbreaking content, analyses, and opportunities in our November 2023 edition.
Until next time, stay invested, stay informed, and stay connected.
Thank you for being an integral part of our community.
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.
Author | Keynote Speaker| Editor Web3 & Metaverse, Frontiers in Blockchain | Women Investors in Deep Tech| Web3.0 Leader of the Year Eurasia 2023 | Top 10 Thought Leader Blockchain, MedTech, Sustainability
1 年Kasei Holdings PLC
Private Healthcare Navigation & Patient Advocacy | High-Touch, Discretionary Healthcare Solutions | Serving Family Offices, HNWIs, RIAs, Private Households, Individuals, C-Suites | Board-Certified Gastroenterologist
1 年Thank you for sharing this. Dr. Dooreck, on behalf of Executive Health Navigation
Connecting Family Offices, UHNWI, & Service Providers | CEO & Owner of Family Office List
1 年Happy Halloween Ryan! I’m excited to dig into the October edition. ????
Public Relations + Investor Relations Exec | ?? TV Commentator | ???Podcast Host, iHeartRadio ?? | ?? Contributor: NASDAQ , Forbes, Benzinga, Investing.com | Adjunct Professor, Yeshiva University
1 年Jennifer K. Zimmons, Ph.D. Tobias Prestel