Progeny 3
Also known as Progeny 3, Inc.
Single family office of the Smith-Hemingway family (Carrix / SSA Marine), set up in 2007 and based in Kirkland, WA; invests in private equity and venture capital among other assets.
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Single family office of the Smith-Hemingway family (Carrix / SSA Marine), Washington State. Not related to the Swiss family office PG3 AG or to other 'Progeny'-named firms.
Family & background
- FAMILY
- Smith-Hemingway (Jon Hemingway)
- WEALTH ORIGIN
- Carrix, Inc. (SSA Marine), port and terminal operations
- HEADQUARTERS
- Kirkland, United States
- FOUNDED
- 2007
Investment approach
- SECTORS
- Industrial & Manufacturing
- ROUTES
- Direct investments
- STRATEGIES
- Private equityVenture capitalDirect investments
Overview
Progeny 3 was established in 2007, the year some of the Smith-Hemingway family's interest in Carrix, Inc. (the port operator best known as SSA Marine) was sold to a financial partner; Carrix chairman Jon Hemingway led its establishment as a single family office serving the family's portfolio management, tax reporting, estate planning and wealth planning needs. A 2025 deal announcement by Willkie Farr & Gallagher describes it as a single family office based in Kirkland, Washington; its private-investing portfolio manager leads both private equity and venture capital. In October 2025 it was one of three leaders, with Mousse Partners and Abrams Capital, of the investor group in the recapitalisation of Rockefeller Capital Management at an enterprise value above USD 6.6 billion. In April 2026 Cadre Energy Solutions, a Houston contract natural gas compression services provider, announced it had raised additional equity capital from Progeny 3, joining existing equity partner Intrepid Investment Management.
Holdings & investments (2)
- Cadre Energy SolutionsNOTABLEIndustrial & Manufacturing · since 2026
- Rockefeller Capital ManagementNOTABLEsince 2025
People
Classification
Single Family Office. Manages one family's own capital, with no outside investors. The family bears every loss. How family capital is classified →
FAQ
Progeny 3 is a single family office based in Kirkland, the United States, founded in 2007.
Progeny 3 invests on behalf of the Smith-Hemingway (Jon Hemingway) family (Carrix, Inc. (SSA Marine), port and terminal operations).
Progeny 3 invests directly in companies. Its stated asset mix includes private equity, venture capital and direct investments.
Progeny 3 invests in Industrial & Manufacturing.
Key people at Progeny 3 include Jon Hemingway (CEO (as of 2016); Chairman of Carrix, Inc.), Chris Hemingway (Investment portfolio manager (as of 2016)) and Blair Holert (Portfolio Manager, private investing (private equity and venture capital)).
Progeny 3's holdings and investments include Cadre Energy Solutions and Rockefeller Capital Management.
The most recent publicly reported investment by Progeny 3 is Cadre Energy Solutions (Additional equity capital (amount undisclosed), joining existing equity partner Intrepid Investment Management), announced in Apr 2026.