Sachiko Kuno, the biotech veteran and philanthropist behind D.C. social enterprise engine Halcyon, is stepping down as board chair of the organization.
The nonprofit has tapped Metz Investments LP founder Martha Metz to succeed her in the seat, as Kuno — president and CEO of S&R Foundation, which spun out Halcyon in 2017 — becomes chair emeritus.
Kuno will remain on the board, where she will continue to have “a huge role at Halcyon” and “will always be a trusted counselor to Martha as board chair and to myself,” Kate Goodall, its co-founder and CEO, told the Washington Business Journal.
Kuno gives up the board chair position about four years after Halcyon spun off as an independent entity — and it's since attracted more, diverse backing, including from foundations, government grants, corporate sponsorships and individual donors, to make it an opportune time to let someone else guide it from here, Goodall said.
“She knows that an organization’s long-term sustainability depends on expanding its leadership to include new voices. Solidifying a plan for succession beyond the founder herself ensures fresh ideas and affirmation of Halcyon’s mission and relevance will continue for years to come," Goodall said. "Halcyon’s support is broad enough and our programming is established enough that now is the right time for this transition.”
Metz assumes her role with the organization, known for its flagship incubator in Georgetown, as it introduces new funding vehicles and programs for social impact entrepreneurs. She first joined Halcyon’s board in 2020 after working in brand management with Kraft Foods Inc. and, in 2019, founding Metz Investments, which invests in early-stage companies owned by women in the hospitality space.
Metz’s appointment, effective immediately, comes as the board gains new board members, including:
- Max Peterson, vice president for worldwide public sector for Amazon Web Services
- Karyn Smith, general counsel and chief compliance officer at Twilio Inc.
- Kerone Vatel, head of community impact and investing with Capital One Financial Corp.
The existing board also comprises:
- Byron Barnes, senior vice president of global commercial banking for Bank of America
- Patrice King Brickman, founder and managing director of Inspire Capital LLC
- Michelle DiFebo Freeman, owner and CEO of Carl M. Freeman Cos.
- Matt Kelly, CEO of JBG Smith Properties
- Kevin Lavin, co-chair of corporate finance with Arnold & Porter Kay Scholer LLP
Kuno, a scientist-turned-philanthropist, began her career in Japan, where she and then-partner and husband Ryuji Ueno launched an anti-glaucoma treatment and established drug company R-Tech Ueno, before moving to the D.C. area in 1995. They founded Sucampo Pharmaceuticals Inc. in the U.S. and took it public in 2007, making it an international player in the pharmaceutical industry before the company sold in 2018 for $1.2 billion.
In 2000, the former couple also co-founded S&R Foundation for scientists, artists and socially focused startups. Its residency incubator program, run out of the Halcyon House at 3400 Prospect St. NW, is what became the backbone of Halcyon as a stand-alone nonprofit. Kuno and Ueno still own Halcyon House, as well as the Evermay mansion and the former Fillmore School in D.C.
Kuno has also helped launch WE Capital, a women-led fund for women-led startups, alongside Salamander Hotels & Resorts founder Sheila Johnson. And she’s one of the minds behind Gaithersburg’s VLP Therapeutics Inc., an 8-year-old vaccine maker focused on addressing unmet medical needs that raised $16 million in venture capital dollars in March.
Just this year, a total of 60 entrepreneurs have come through Halcyon’s programs, which put particular emphasis on businesses in the District’s opportunity zones, Black female founders nationwide and women tech entrepreneurs from Bahrain, among others.
“Halcyon has big plans for 2022,” Goodall told us. “Hand-in-hand with our new board, we’re looking to announce additional funding vehicles and bring in new Halcyon fellows, including multiple new intensive programs with a focus on emerging social enterprise ecosystems in Africa and the [Middle East and North Africa] region.”
That’s on top of its microloan fund that went live in September for startups in its programs. That's spearheaded by Dahna Goldstein, Halcyon’s chief investment officer, as part of an effort to bridge long-standing inequities in the financing landscape. Halcyon, which does not take equity in the companies coming through its programs, also launched its angel investment network two years ago to invest in companies around the country.
Since its founding, Halcyon reports that 258 fellows have participated in its programs, and 156 of its alumni ventures have raised more than $180 million in combined capital.
