Q&A with Tracy Chadwell of 1843 Capital
1843 Capital is an early stage venture capital firm that makes Series A and B investments in technology and tech enabled consumer product companies. The firm is generalist, but has an investment thesis of “Silver Tech” or technology for the aging. Initial investments in the space include investments in caregiving (Cariloop) mobility for seniors (May Mobility and HopSkipDrive) and digital health/ longevity (Recuro and Midi). 1843 has a proprietary database of nearly 500 “Silver Tech” companies and is a recognized and preferred partner for companies in aging and longevity. Founder Tracy Chadwell is a leader in the space and was recognized on the inaugural Forbes 50 over 50 list, and the team includes Larry Flanagan, former President AARP Services.
Please join us for a private Family Office Insights Webinar featuring Tracy Chadwell, Founding Partner of 1843 Capital and Inaugural Forbes 50 over 50 honoree. A venture capital investor, Tracy is changing the way we view and support aging by investing in early stage “Silver Tech” companies. With 10,000 people turning 65 every day, we are facing a crisis in areas of caregiving and retirement savings. Additionally there is strong demand for longevity and “healthspan” support to make a longer life more enjoyable and productive.
March 15, 2022 at 2:15pm-3:15pm EST
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What is "Silver Tech" and why is it an opportunity right now?
The Silvertech market is driven by the largest consumer market in the world, urban adults over 50 years old. In the United States, there are 108 million people over the age of 50 (AARP) with 10,000 people turning 65 each day (AARP). The older consumer will make up 19% of total global consumption (McKinsey). Baby Boomers control 70% of the United States wealth or $7 trillion (AARP), $15T globally (Bank of America). Technical devices and software have not fully penetrated this market to date while, according to McKinsey, Seniors are accessing technology at a rate approaching young adults, creating a large market opportunity. Conversion is happening more rapidly than anticipated with a reduction in former barriers such as accessibility and anxiety. Today, smartphone adoption is 86% among Americans aged 50 to 59 and 81% for those 60 to 69. Meanwhile, 62% of those 70+ use smartphones (AARP). Furthermore, the pandemic has accelerated adoption of technologies out of necessity. Large players like Google, Amazon, and BestBuy increasingly see a market opportunity and have acquired and expanded offerings targeting the older generation and aging in place is driving markets for connected devices, data, and technologies which improve safety, security and provide optimal health outcomes while remaining in the home. A 2018 AARP study found that 86% of 65+ would like to stay in the current home or “age in place” in the U.S.. In addition, Medicare Advantage plans continue to cover some in-home technology to help Seniors remain independent. The uses of digital health technologies, including remote patient monitoring and remote consultation, continue to grow. Various government grants and programs were also launched to help the aging population with the isolating effects of the Covid-19 pandemic.
Companies of interest in this space include software, devices and tech-enables services aimed at improving the lives of the aging. 1843 has tracked and invested in this sector for over 5 years, amassing research and a proprietary data base of nearly 500 of the most compelling companies in this space. Some of the most interesting sectors to 1843 are caregiving, digital health solutions, retirement solutions and senior fraud detection and prevention.
What differentiates your venture capital fund from others?
Our differentiated focus on ""Silver Tech"" and our team are our biggest assets. 1843 has an established team with a track record of success. Led by Founding Partner Tracy Chadwell, 1843 Capital is a management team with collectively over 100 years of experience in investing, operations, legal and finance. Ms. Chadwell was recently named to the inaugural Forbes 50 over 50 list as well as being named to Entrepreneur Magazines inaugural ""100 Powerful Women"" list. She has numerous exits under her belt including Beautycounter (sold for $1 Billion to Carlyle) and Tempo Automation (exited NASDAQ:TMPO at ~$919M estimated post-transaction equity value). Also on the team is Janet DeFrino, a former public equities analyst with Morgan Stanley and Larry DeFrino, the former CMO of Mastercard and President of AARP Services. 1843 also has an Advisory Board of leading technology and business executives.
What is the opportunity for investors?
1843 Capital is currently open for investment in Fund II - 1843 Capital Ventures II, L.P. to accredited investors. Investors may have an opportunity to make co-investments as well.
Tracy Chadwell of 1843 Capital
Tracy Killoren Chadwell is the Founding Partner of 1843. Ms. Chadwell is responsible for leading the day-to-day activities of the Fund. She is also responsible for origination, execution and asset management of 1843’s investments. Contact Tracy: firstname.lastname@example.org