who's who

3 Houston innovators to know this week

This week's innovators to know roundup includes Heath Butler and Samantha Lewis of Mercury Fund and Adam Kuspa of the Welch Foundation. Photos courtesy

Editor's note: In this week's Monday roundup of Houston innovators, I'm introducing you to three innovators across the city — each in their own ways financially support the region's top innovators.


Heath Butler and Samantha Lewis of Mercury Fund

Heath Butler has been promoted to managing director of Mercury Fund, and Samantha Lewis joins the firm as principal. Photos courtesy

Houston-based Mercury Fund, which focuses on early-stage startups located in central United States, announced the promotion of Heath Butler to managing director from network partner. Additionally, Samantha Lewis — formerly investment director at Houston-based Goose Capital — is joining the fund as principal.

"Over the past few years, we've continued to build our investment team with top talent from our ecosystem," says Blair Garrou, co-founder and managing director of Mercury, in a news release.

"The promotion of Heath and the addition of Samantha will further Mercury's early-stage venture leadership in Middle America, and is illustrative of Mercury's deep commitment to diversity as a core value driver," continues Garrou. Click here to read more.

Adam Kuspa of The Welch Foundation

Adam Kuspa of The Welch Foundation joins the Houston Innovators Podcast to discuss the COVID-19 vaccine, materials science, and more. Photo courtesy of The Welch Foundation

It's been an interesting year for Adam Kuspa and the Welch Foundation as — just like any other organization — the pandemic has caused various disruptions for Kuspa and his team. At the same time, COVID-19 has forced an unprecedented public-private response from the medical community, the government, and more.

"I'm very proud of the scientific enterprise in this country and around the world — they way it's been supported, developed, and maintained over the years — to allow for something like this be even contemplated," Kuspa says on this week's episode of the Houston Innovators Podcast.

Over the last 40 to 50 years, researchers in the fields immunology, vaccine research, protein biochemistry, and more, have seen increased support, Kuspa says, and that's what made a difference in the pandemic and allowed for a vaccine to emerge so quickly. Click here to read more and to listen to the episode.

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Building Houston

 
 

LevelField Financial is planning a nationwide expansion following a recent acquisition. Photo via Getty Images

A Houston-based financial services company has made a recent strategic acquisition that gives it a new banking status.

LevelField Financial, which is creating a platform that combines traditional banking and digital asset products and services, announced this week that it is acquiring Burling Bank, an FDIC-insured, Illinois state-chartered bank. According to the company, once it receives regulatory approval, "LevelField will be the first full-service bank to offer fully compliant traditional banking and digital asset services."

The financial terms of the deal's transaction, which is expected to close later this year, were not disclosed.

The combined company will be able to provide traditional banking services, as well as LevelField's digital asset management. Burling Bank's senior management team will join LevelField's leadership, per a press release. They will focus on serving the bank's existing clients and growing the banking business nationwide.

"We conducted a broad review of banks in the U.S. to find the ideal institution with both an existing business and a management team who are aligned with our vision; we exceeded our expectations with Burling Bank. With this acquisition, LevelField will become a traditional bank, albeit one serving customers interested in the digital asset class," says Gene A. Grant II, CEO of LevelField Financial, in the release.

"We are thrilled to have the Burling executives join our leadership team, and together we intend to deliver fantastic customer service and well-designed products to customers who have an interest in accessing the digital asset class through a traditional bank," he continues.

Founded in 2018 by former banking executives, LevelField's leadership believes "the future of money is digital and that banks will continue to be a trusted provider of financial services," according to the website. This acquisition comes ahead of the company's plans to expand nationally.

"LevelField's strategic approach presented a tremendous opportunity for the bank to expand beyond our local footprint and serve customers with shared interests across the nation," says Michael J. Busch, Burling Bank president and CEO. "Together, we will continue to provide superior service and demonstrate that we truly understand the expanding and unique needs of our customers. Additionally, through the carefully developed suite of products we can address our customers' interests in digital assets and introduce them to LevelField's safe, simple, and secure platform."

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