on boarding

Houston-based synthetic biology investment fund taps 2 prominent advisers for board

First Bight Ventures has added two Houstonians to its advisory board. Image via Getty Images

Earlier this year, a new synthetic biology-focused venture capital fund launched in Houston, and now its added to its esteemed set of advisers.

Veronica Wu, former Apple and Tesla exec, founded First Bight Ventures, a new VC firm focused exclusively on early-stage synthetic biology startups, in January and named her initial board members. This month, she's added to those ranks with two Houstonians joining the advisory board — Gaurab Chakrabarti, co-founder and CEO of Solugen, and Kevin Coker, co-founder and CEO of Proxima CRO.

"We are excited to announce the addition of Dr. Gaurab Chakrabarti and Kevin Coker," Wu says in a press release. "These two advisors are experts in their respective fields of medicine and biotechnology. They are proven leaders of Houston-based companies, which is key to our overall growth strategy, as we seek to establish Houston as a geographic center for innovation in Synthetic Biology."

Gaurab co-founded Solugen, a Houston unicorn that creates enzymes that can turn sugar into chemicals, in 2016. He studied computational neuroscience at Brown University and received his master's and PhD in cancer biology and enzymology at the University of Texas.

Representing the health care side of synthetic biology, Kevin Coker runs Houston-based Proxima CRO, a regulatory and clinical partner for the emerging biotech and medical device industry. He is also the founder and partner of the M1 MedTech accelerator and the Host of the Inventing Tomorrow podcast.

"I couldn't be more excited to work with Veronica and First Bight Ventures," Coker says in the release. "The time is now for companies developing Synthetic Biology products and platforms. Much of this technology has reached commercial level maturity and we are beginning to see exciting things happen, particularly in Houston."

The two join six other advisers on the board:

  • Dr. Ethel Rubin, an experienced life sciences executive with commercialization and investment experience across multiple therapeutic areas and modalities.
  • Lekan Akinyanmi, founder and CEO of Cambridge Growth Partners, a holding company with interests in mining, finance, oil/gas, and renewable energy.
  • Dr. Guochun Liao, founder of IDbyDNA, which focuses on utilizing next-generation sequencing and AI/ML for infectious disease management.
  • Mario Maia, leader of the corporate investment arm of Novozymes.
  • Peter Oleksiak, former CFO senior vice president for DTE Energy Co., a Fortune 500 diversified energy compan.
  • Davy Wang, senior director at Oracle Cloud.

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Building Houston

 
 

Hannah Le founded RE.STATEMENT to provide a much-needed platform for sustainable fashion finds.

When shopping online one day, Hannah Le saw a need for a platform that allowed transactions between upcycling fashion designers and shoppers looking for unique, sustainable pieces.

Le created RE.STATEMENT, an online shopping marketplace for upcycled clothing. Before RE.STATEMENT, designers were limited to Etsy, which is focused on handmade pieces, or Poshmark and Depop, which are dedicated to thrift finds. Upcycle fashion designers didn't have their own, unique platform to sell on — and, likewise, shoppers were scattered across sites too.

"These marketplaces are really good for what they do," Le says on this week's episode of the Houston Innovators Podcast, "but, whenever I think of someone looking for something unique and sustainable, it's hard for me to imagine finding that on these marketplaces."

The platform soft launched in December with 25 upcycling designers and over 1,200 buyers that had been on the company's waitlist for almost nine months. Now that the site is live, Le hopes to give both buyers and sellers quick access to transactions.

"Most designers give up if they haven't sold an item within three months," Le explains. "That's something RE.STATEMENT has dedicated its business model to — making sure that items sell faster and at a higher value than any other marketplace."

Le says that she started with buyers to see what exactly they were looking for, then she searched and found the designers looking to sell their pieces, and the current platform is dynamic and flexible to the needs of users within her community.

"Even today, it changes every single day depending on how users are interacting with the website and what sellers are saying that they need — really communicating with buyers and sellers is how the marketplace is evolving," she says.

RE.STATEMENT's ability to quickly evolve has been due to its early stage, Le explains on the show. She's not yet taken on institutional funding or hired anyone else other than tech support. She says this allows her to quickly make changes or try out new things for users.

"For me, there are still so many things I want to prove to myself before I bring others involved," she says. "To start, it's coming up with new opportunities for buyers to interact with the website so that we can keep learning from them."

Le has already proven some success to herself. Last year, she took home one of three prizes offered at the city's Liftoff Houston competition. The contest, which gives Houston entrepreneurs pitch practice and mentorship, awarded RE.STATEMENT $10,000 for winning in the product category.

"I wanted to see how far I could go," Le says of the competition where she got to introduce her business to Mayor Sylvester Turner and a whole new audience of people. "I had pitched before, but this was the first time that I was onstage and I just felt like I belonged there."

Le shares more about her vision for RE.STATEMENT and the integral role Houston plays in her success on the show.


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