Board of Directors

Fred Russell

Fred is the Managing Partner of Virginia Capital Partners, a venture capital and private equity firm based in Richmond, Virginia, which he  co-founded in 1996. Fred is a graduate of the Wharton School at the University of Pennsylvania and the McIntire School of Commerce at  the University of Virginia. Fred’s complete bio is here. Fred’s email is Fred@BantingFoundation.com.

Hunter Goodwin

Hunter is Chairman of the Investment Committee of the Riverstone Group, an investment firm based in Richmond, Virginia. He is also Chairman of CCA Financial, a computer and equipment leasing firm also based in Richmond. Hunter is a private investor in a number of innovative companies throughout the Southeast. He is an active philanthropist in a number of other health care and educational causes. Hunter is a graduate of the Darden School of Business at the University of Virginia and Vanderbilt University. Hunter’s email is Hunter@BantingFoundation.com.

Susan Russell

Susan is the Treasurer and a Director of the Frederick Banting Foundation based in Richmond, Virginia. Susan is a member of the Board of the Central Virginia Juvenile Diabetes Research Foundation in Richmond, Virginia. She was previously the Chair of the Junior Board of the Children’s Hospital in Richmond, Virginia. Susan is a graduate of Sweet Briar College. Susan’s email is Susan@BantingFoundation.com

John Russell

John is the Secretary and a Director of the Frederick Banting Foundation based in Richmond, Virginia. John is lawyer in Charlottesville, Virginia. John graduated from the University of Virginia Law School and from the University of Oregon.

Joe Hernandez

Joe is the Director of Research and a Director of the Frederick Banting Foundation based in Richmond, Virginia. Joe is an Associate with Virginia Capital Partners, a venture capital and private equity firm based in Richmond, Virginia. Joe previously worked in the investment banking business. He is a graduate of Virginia Tech. Joe’s email is Joe@BantingFoundation.com

About Us

We are inspired by Frederick Banting who discovered insulin in 1922 with limited resources and despite academic skepticism towards his research. Banting’s discovery was widely available to treat diabetics in less than four years.

The Frederick Banting Foundation was created in 2011 by a group of venture capital investors in Richmond, Virginia. The Foundation bases its charitable giving strategy using a “venture philanthropy” approach. The Frederick Banting Foundation’s “investment” strategy is:

  • to provide funds over several years as a source of more permanent capital,
  • to support projects that might not otherwise get funded especially for projects offering a compelling risk/reward balance,
  • to avoid supporting institutional overhead,
  • to have ongoing access to project leaders,
  • to receive reports outlining performance to expectations,
  • to involve other like-minded donors, and
  • to obtain confirmatory due diligence in advance of funding.

Utilizing our venture capital experience, the Foundation hopes to select promising research projects where the Frederick Banting Foundation’s funds can accelerate unrecognized or under-appreciated technologies where we believe our funding can be a catalyst to stimulate rapid development or adoption.