Venture capital firm NEXT Global Capital announced last week it is relocating its global headquarters to Salt Lake City and bringing on former U.S. Congressman Chris Stewart as chief strategy officer.
“NEXT Global’s move to Utah and the appointment of Chris Stewart as (chief strategy officer) reflect NEXT Global’s investment in strategic expansion and our long-term organizational goals,” L.R. Fox, founder of NEXT Global, said in a statement. “At NEXT Global, we are committed to identifying and investing in breakthroughs that will change the world. We’re thrilled to expand these contributions in a community that shares our values of innovation, collaboration and community building.”
Along with founding NEXT Global, Fox is also known for launching WhiteFox Defense, an internationally recognized counter-drone solutions company specializing in drone detection, tracking and mitigation to safeguard critical airspace.
Additionally, NEXT Global also launched and manages NEXT Life Sciences, which is developing the first nonhormonal and reversible male contraceptive, “Plan A.”
The contraceptive is designed to last for up to 10 years and aims to help people better navigate family planning decisions.
The company’s Salt Lake City office will house NEXT Global’s core operations and act as a regional hub for engagement with entrepreneurs working on “high-impact projects that may redefine the future,” according to a statement from the company.
Fox, who also serves as a venture partner at California-based Okapi Venture Capital, is also making the move to the Beehive State to expand that firm to the Mountain West “with a deep focus on fueling Utah’s thriving business community,” said the statement.
“I’m honored to join NEXT Global Capital as the company establishes its headquarters in Salt Lake City,” Stewart said in a statement. “Utah has long served as a hub of innovation and entrepreneurship. Fox joining this hub has already led to significant investment that will be felt globally. NEXT Global Capital aligns with my personal mission to advance solutions that make a real impact.”
Stewart is no stranger to aerospace and technology, having formerly served as chairman of 47G, Utah’s defense and aerospace association.
Former Utah House Speaker Brad Wilson replaced Stewart as chairman of 47G in April, though Stewart still sits on its board of directors.