Progeny 3

Progeny 3

Progeny 3 was established in 2007 by Jon Hemingway after decades of family ownership in Carrix, formerly SSA Marine. The firm preserves and deploys that capital for the Smith-Hemingway family across successive generations. It maintains offices in Seattle and Kirkland, Washington. The office allocates across public equities, private equity, private credit, infrastructure, natural resources and real estate. It executes direct co-investments, SPVs, fund-of-funds commitments and alternative venture structures. Confirmed holdings include residual interests in Carrix, Papa’s Pilar Rum, the White Pass & Yukon Route railroad and mixed-use properties in Seattle and Kirkland. Geographic reach spans North America, South America, Africa and Asia. Investment stages center on growth, late-stage and venture capital opportunities. The team includes Jon Hemingway as CEO and Chris Hemingway as Co-Chief Investment Officer and portfolio manager. Lauren Offenbecher, also a family member, serves as Associate General Counsel at Carrix and participates in family-office planning. Progeny 3 maintains membership in the Wigmore Association and NAIOP Washington State. It operates the Hemingway Family Foundation and related philanthropic vehicles. No operational events from the last 24 months appear in available records. Ownership of Carrix transitioned to a majority stake held by Blackstone Infrastructure Partners while the Hemingway family retained a residual interest. This structure allows Progeny 3 to combine direct operating-company oversight with diversified financial-market exposure. The arrangement separates day-to-day terminal operations from the family office’s investment and governance functions.