A Southern California capital firm is relocating its headquarters to Salt Lake City.
Next Global Capital also announced it will have former U.S. Rep. Chris Stewart as chief strategy officer. The firm said the Salt Lake City office will house its core operations and establish a regional hub for engagement with entrepreneurs working on high-impact projects.
Next Global is currently focused on both drone-defense technologies and next-generation reversible male contraceptives. The Salt Lake City office is expected to also be an incubator to invest and launch Utah-based technology companies.
“Next Global’s move to Utah and the appointment of Chris Stewart as CSO reflects Next Global’s investment in strategic expansion and our long-term organizational goals,” said L.R. Fox, founder of NEXT Global. “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.”
Fox launched WhiteFox Defense, a company focused on counter-drone solutions, specializing in cutting-edge drone detection, tracking and mitigation to safeguard critical airspace. The company is known for securing the FIFA World Cup in partnership with a local Utah company, Fortem, as well as other events like SXSW, NASCAR and the United Nations General Assembly, and high-risk regions such as the battlefields of Ukraine.
Next Global also launched and manages Next Life Sciences, which is developing the first non-hormonal and reversible male contraceptive called “Plan A.” The contraceptive is designed to last for up to 10 years, and aims to help people better navigate family planning decisions.
Next Global also joined in an investment in Redemption Bank in Utah.
Fox also is a venture partner at Okapi VC, which was one of the first institutional investors into CrowdStrike, a cybersecurity company valued at $120 billion.
Stewart served in Congress from 2013 until his resignation in September 2023 and served on a number of committees and subcommittees. He also served 14 years as a pilot in the U.S. Air Force, is an author and is the former owner and CEO of a consulting firm in energy and the environment.
“I’m honored to join Next Global Capital as the company establishes its headquarters in Salt Lake City,” Stewart said. “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.”
In philanthropy, Next Global has built The Oasis Academy, the first school for gifted orphans, foster youth and sex trafficking survivors. The global nonprofit is investing to expand to a Utah campus, equipped with educational resources, support systems and workforce development programming. The Oasis Academy is partnering with local nonprofits that serve those youth.