Stetson Family Office Global BioForum Brings its Early Stage Investors to RESI Europe

28 Feb

 

Chuck Stetson

An interview with Chuck Stetson, CEO, Stetson Family Office

– By Dennis Ford, Founder & CEO, Life Science Nation; Creator of RESI Conference Series

Dennis Ford

The Stetson Family Office has been active in driving global initiatives between two key investor groups: family offices that have desire and dollars to impact global health, and regional angel groups who have the ability to vet and recommend compelling early stage life science technologies. These alliances have the power to accelerate early stage investment across the silos of drugs, devices, diagnostics and digital health. There is a multitude of global early stage life science startups that are in need of early stage funding partners who can provide the capital to develop the next generation healthcare products. These next generation products will have a great impact on virtually everybody on the planet.

Recently Dennis Ford, CEO of Life Science Nation and the creator of the Redefining Early Stage Investments Conference Series (RESI) sat down with Chuck Stetson, the CEO of the Stetson Family Office and founder of the Global Family Office BioForum, to get an update on Chuck’s global initiatives.

Dennis: Chuck, what exactly is the Global Family Office BioForum (GFOB)? How many Family Offices participate and how many cities throughout the world?

Chuck: I created and launched the entity Global BioForum because like my own family office, I discovered there were other family offices that are genuinely interested in philanthropy and social impact investing in healthcare, but finding and vetting the technology assets proved to be a challenge for them because of limited staff. To meet the challenge I created a strategy to match up regional angel networks with up to 40 members vetting each deal with regional family offices within the early stage life science arena. I did this by creating a strategic relationship with Life Science Nation and bringing my family office groups to the RESI conference events where they are able to connect with angels and also find technology that they may want to invest in. Over the last year I have hosted 4 very successful family office luncheons at the RESI events and will be bringing some of my family office network to the RESI Vienna Conference on March 25.

Currently we have an affiliated group of 260 active family offices meeting quarterly in 19 cities in the U.S., Europe and Asia, with a stated goal to help to strengthen the life science early stage ecosystem. On April 23-24th, 2019, there will be a Global BioForum gathering in Chicago and will be held in cooperation with the Angel Capital Association (ACA). Founded in 2004, ACA is the official industry alliance of 13,000 angel investors working in 260 organizations. My relationships with LSN and ACA have helped connect the capital with the early stage life science products and we are already seeing great results.

Dennis: What are the direct goals that you have set with the Stetson Family Office and the Life Science Nation alliance?

Chuck: Early stage product development is all about securing funding to get the products developed faster. It is my personal goal to create programs that will aid international life science startups in raising seed capital, Series A and B funding rounds, and also launch a Boston-based immersion fundraising and partnering program run by LSN and integrated into the RESI conferences to prepare and educate fundraising CEOs on how to go from canvassing regionally to canvassing globally for potential investors. This would essentially prepare and integrate these startups into LSN’s global partnering ecosystem, including the Redefining Early Stage Investments (RESI) Conference Series in Boston, San Francisco, Europe and Asia and access to LSN’s partner network.

Dennis: Would you like to add some more commentary on your efforts?

Chuck: In summary, I want to use the Global BioForum to help provide the seed rounds to move compelling technology out of the labs and onto the commercial development path. It will focus specifically on years 0 to 3, commonly referred to as “The Valley of Death”. Another goal is to advance women as investors and as entrepreneurs in the life sciences. Last but not least, is direct preliminary interest in products that impact healthy brain, diabetes, obesity and heart disease, although all products are welcome.

Chuck Stetson, CEO, Stetson Family Office

Eugene W. Stetson started the Stetson Family Office shortly after he personally led the buyout of The Coca-Cola Company through a public offering in August 1919 by the Guaranty Trust Company of New York, where he subsequently served as Chairman and just before he died and organized, he organize with the much smaller J.P. Morgan. At his death, Eugene was Coca-Cola’s longest serving member of the Board and of the Executive Committee. Chuck Stetson, the third generation running the family office, is an entrepreneur, venture capitalist, and philanthropist. The Stetson Family Office started Healthcare Impact Foundation, a 501-c-3 organization, in 2017 to bring capital and management expertise to local life science companies and to build and maintain an efficient life science eco-system composed of R&D facilities, incubation facilities, venture capital investors, angel investors, family office investors, and networks of experts in science, management, industry, reimbursement and public policy. Stetson Family Office has set up a unique Global Family Office BioForum with family offices around the globe working closely with their local healthcare innovation. Family Offices are responding with excitement.

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