How many investments has Pappas Capital made?

Pappas Capital has 82 tracked investments.

What stage does Pappas Capital invest at?

Pappas Capital invests at the Pre-Seed, Seed, Series A, Series B, Series C, Late Stage stages.

Where is Pappas Capital located?

Pappas Capital is headquartered in Durham, US.

Who does Pappas Capital co-invest with?

Pappas Capital most often shares deals with Chiesi Ventures, Sofinnova Ventures, Hatteras Venture Partners, among 38 tracked co-investors.

Pappas Capital

Venture capital

Durham · Pre-Seed–Late Stage · 34 people tracked

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1,279 people in our graph share verified history with the Pappas Capital team — schools, employers, funds. One of them is your warm intro.

Jessica Schultzunlockedknows Russel Kaufman · together at Klarna (overlapped)

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×3knows the team · via Duke University - The Fuqua School of Business

×2knows the team · via UNC Kenan-Flagler Business School

×4knows the team · via The University of North Carolina at Chapel Hill

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Investment thesis

Pappas Capital is a global venture capital and commercial development firm that invests in next-generation life science, agriculture, and technology companies. It runs three lines of business: Pappas Ventures, its flagship life science venture arm; Specialized Fund Management, which creates and manages custom investment vehicles tailored to investors' strategic needs; and Translational Medicine, which partners with research universities to accelerate development of their scientific discoveries and inventions. Leveraging deep drug-development expertise and long-standing industry relationships, the firm supports portfolio companies with talent recruitment, clinical and regulatory strategy, and access to its professional network, aiming to guide companies from concept to commercialization.

Invests inAgTech Biotech Consumer Crypto & Web3 Digital Health Fintech Healthtech Medical Devices SaaS Asia-Pacific Canada Durham Global United States

Source: firm website, verified Sep 1, 2026.

Stage

Pre-Seed–Late Stage

Durham, North Carolina, US

Instruments

Equity

Founded

1994

Tracked investments

Team · 34 people

from the firm's website & public directories

Art Pappas· Managing Partner

Has over 40 years of operating experience as a pharmaceutical and biotech executive and life science venture investor.

Elizabeth Kelly· Managing Director· Greater Munich Metropolitan Areain

Has over a decade of experience working with early-stage life science and technology companies.

e•••@pappas-capital.comreveal

Tom Mathers· Partner

Has more than 30 years of executive management experience in life sciences and medical devices.

Drew Cutshaw· Principal and Medical Officer· Durham, North Carolina, United Statesin

Holds an MD and brings a combined medical and business background to evaluating investment opportunities.

Phillip Graham· Principal· Durham, North Carolina, United Statesin

Brings early-stage investing experience across technology and life sciences.

p•••@pappas-capital.comreveal

Barry Myers· Senior Venture Partner· Munich, Bavaria, Germanyin

A Duke University faculty member for 29 years providing distinctive perspective on portfolio companies.

Franz Humer· Venture Partner and Senior Advisor

Brings leadership experience from the pharmaceutical and life science industries.

Karen LeVert· Venture Partner

Has a long track record developing early-stage technologies and bringing them to market.

Mike Grey· Venture Partner

Contributes an operational viewpoint drawn from extensive company management experience.

Miranda Gottlieb· Venture Partner

Has extensive experience working with early-stage companies in the US and Asia.

Richard Staub· Venture Partner

Brings experience from a long career as a senior executive in the CRO industry.

Russel Kaufman· Venture Partner· Swedenin

Holds leadership roles in academic internal medicine organizations with interests in cancer research.

William Pay· Venture Partner· Singaporein

Has life science investment and operating experience across the US, Europe, and Asia.

Antonio Chow· Asia Regional Advisor

Serves as the firm's regional advisor in Asia.

Bob White· Senior Advisor

Has a medical device industry background, including the sale of TYRX to Medtronic in 2013.

Bruce Sullenger· Scientific Advisory Board

Distinguished professor of experimental surgery and associate professor at Duke University.

Catherine Yue· Advisor· Singaporein

Has a decade of experience working with research institutes and early-stage deeptech startups.

Charles Gersbach· Scientific Advisory Board

Distinguished professor of biomedical engineering at Duke University and director of Duke centers for biomolecular/tissue engineering and advanced genomic technologies.

David Savello· Venture Advisor

Has held senior positions at companies including Glaxo, Warner Lambert, and Boehringer Ingelheim.

Donald McDonnell· Scientific Advisory Board

Glaxo Wellcome professor of molecular cancer biology at Duke University School of Medicine and associate director of translational research at the Duke Cancer Institute.

Eoin McDonnell· Executive in Residence

Brings experience in oncology drug discovery, company building, and business development across biotech and large pharma.

Glenda Crumpler· Executive Assistant

Provides organizational support that keeps the firm running smoothly.

Lisa Dreyer· Senior Associate, Operations· Durham, North Carolina, United Statesin

Brings finance and operations experience from the alternative investments industry.

Manesh Patel· Scientific Advisory Board

Chief of cardiology and director of the Duke Heart Center, named 2023 American Heart Association Physician of the Year.

Nikki Heron· Chief Financial Officer· Holly Springs, North Carolina, United Statesin

A finance executive with more than 25 years of experience across public and private companies.

Patrick Daly· Senior Advisor

A global executive with a track record in entrepreneurship and building and growing companies of various sizes.

Richard Pascoe· Senior Advisor

A life science executive with a history of leading successful companies.

Rodolphe Barrangou· Scientific Advisory Board

Distinguished professor at North Carolina State University (T. R. Klaenhammer chair) serving on the firm's scientific advisory board.

Stanley Lau· Special Advisor

Has over 40 years of business and healthcare experience in China and internationally.

Thyagi Thyagarajan· Special Advisor

Has in-depth knowledge of Asian markets and an east-west perspective across developed and emerging markets.

Tina Wong-Russell· Advisor

Brings a global perspective from work across Europe, the Americas, and Asia.

Vicky McCauley· Project Manager· Munich, Bavaria, Germanyin

Supports the team with attention to operational detail.

Victor Shi· Special Advisor

Has operating and investing experience with early-stage companies in Asia.

Ford Worthy· Partner and Senior Advisor· Durham, North Carolina, United Statesin

A lawyer with a finance and accounting background serving as a senior advisor to the firm.

f•••@pappas-capital.comreveal

What they invest in

from 25 of 82 portfolio companies

Biotech ×25Healthtech ×6Medical Devices ×3Deep Tech ×2Digital Health ×2AgTech ×1Cleantech ×1Enterprise Software ×1

HQs:United States×25

Investments · 82 tracked

founders shown can be your intro path

By year:2019 · 1 2017 · 1 2015 · 3 2011 · 16 dated

4D Molecular Therapeutics4dmoleculartherapeutics.com inNASDAQ: FDMT

4DMT is a late-stage biotechnology company that develops gene delivery systems and genetic therapeutics targeting specific tissue types for various diseases.

BiotechHealthtechEmeryville, US

David Kirn(Executive Officer, Director)inDavid Schaffer(Director)inTheresa Janke(Executive Officer)in

BoardSharon Tetlow(Director)Margi McLoughlin(Director)

Co-investorsAmzak Health Berkeley Catalyst BOLD Longevity Chiesi Ventures Pfizer Venture Investments Casdin Capital +1 more

Cyclerion Therapeuticscyclerion.com in 𝕏NASDAQ: CYCN

Cyclerion is a biopharmaceutical company developing therapeutics for neuropsychiatric diseases, with a lead candidate (CYC-126) for treatment-resistant depression that pairs anesthetic agents with a personalized biofeedback-driven device.

BiotechDigital HealthMental HealthCambridge, US

William Huyett(Executive Officer)Mark G. Currie(Executive Officer)inOle Isacson(Director)Stephanie Lovell(Director)Marsha Fanucci(Director)George Conrades(Director)

Co-investorsInvus Polaris Partners

Liquidia TechnologiesNASDAQ: LQDA

BiotechMorrisville, US

Kevin Gordon(President and Chief Financial Officer)Robert Lippe(Chief Operations Officer)Benjamin Maynor(Senior Vice President, Research and Development)Timothy Albury(Executive Officer)Neal F. Fowler(Chief Executive Officer)

BoardStephen Bloch(Director)in

Co-investorsCanaan Partners

Syndax Pharmaceuticals inNASDAQ: SNDX

BiotechWaltham, US

John Pallies(Executive Officer)inArlene Morris(Executive Officer, Director)in

BoardDennis Podlesak(Director)Ivor Royston(Director)Luke Evnin, Ph.D.(Director)Kim Kamdar, Ph.D(Director)

Co-investorsForesite Capital Sofinnova Ventures venBio Partners

10678

Achillion Pharmaceuticals

Co-investorsSV Health Investors

Aclara Biosciences

Aer Therapeuticsaertherapeutics.com in

Aer Therapeutics develops a science-driven therapeutic aimed at eliminating mucus plugs in the lungs to treat muco-obstructive lung diseases such as COPD and asthma.

BiotechHealthtechMedical DevicesRaleigh, US

Thomas Mathers(Executive Officer, Director)inJames Shaffer(Executive Officer, Director)John Fahy(Director)in

BoardChristy Shaffer(Director)inRishi Gupta(Director)Tim Shannon(Director)in

Co-investorsHatteras Venture Partners OrbiMed Canaan Partners

Afferent Pharmaceuticals inJul 2015

BiotechSan Mateo, US

Anthony Ford(Executive Officer)inMichael Kitt(Executive Officer)inKathleen Sereda Glaub(Executive Officer, Director)in

BoardKevin Starr(Director)inArthur Pappas(Director)Liam Ratcliffe(Director)

Co-investorsDomain Associates Fidelity Investments Jennison Associates Third Rock Ventures

Aktis Oncology

Allievex

Amplyx PharmaceuticalsAug 2015

Developing broad-spectrum antifungal agents for invasive fungal infections.

BiotechSan Diego, US

Mitchell Mutz(Executive Officer, Director)

BoardChrysa Mineo(Director)Jack Florio(Director)Elaine Heron(Director)Santosh Vetticaden(Director)Karen Talmadge(Director)

Co-investorsNew Enterprise Associates (NEA)RiverVest Venture Partners Sofinnova Ventures Sofinnova Venture Partners

Anthera Pharmaceuticals

Developing products for diseases associated with inflammation.

BiotechHayward, US

May Liu(Executive Officer)

Co-investorsSofinnova Ventures

Arena Pharmaceuticals

Argomed

Athersys

Balance Therapeutics

Barosense

Bayhill Therapeutics

biobio.org in 𝕏

BIO is the world's largest advocacy association representing biotechnology companies and research institutions across the United States and 30+ other nations.

BiotechEnterprise Software

BioAesthetics:ncbiotech.org

Co-investorsHemi Ventures, Llc

BioAtla

Co-investorsPfizer Venture Investments

Biosyntech

BraincellsDec 2011

BiotechSan Diego, US

Fred H. Gage(Director)

BoardCharles W. III Newhall(Director)David Thompson(Director)Carl Goldfischer(Director)Arthur Pappas(Director)

Calyx Therapeutics

Cardiodx

BiotechRedwood City, US

Mark Monane(Executive Officer)Gwen R. Carscadden(Executive Officer)David L. Levison(Executive Officer, Director)Deborah L. Kilpatrick(Executive Officer)Robert F. Werner(Executive Officer)Douglas T. Ross(Executive Officer)

Cenerx Biopharma

Cequent Pharmaceuticals

Cerexa

Chimerix NASDAQ: CMRX www.chimerix.comchimerix.com in 𝕏Jul 2019

Chimerix is a biopharmaceutical company developing therapies for rare diseases and cancers, with a focus on advancing treatments through biomarker-driven approaches and precision medicine.

BiotechHealthtechMedical DevicesDurham, US

Mike Sherman(Chief Executive Officer and President)W. Garrett Nichols(Chief Medical Officer)Michael A. Alrutz(Executive Officer)Randall Lanier(Chief Science Officer)Roy W. Ware(Chief Manufacturing and Technology Officer)Heather Knight-Trent(Vice President of Regulatory Affairs)

Co-investorsAisling Capital Alta Partners Asset Management Company Canaan Partners Frazier Life Sciences Sanderling Ventures

Cognetix

CoLucid PharmaceuticalsJan 2015

BiotechDurham, US

Bernice Kuca(Executive Officer)Mathers P. Thomas(Executive Officer, Director)Nadia Rupniak(Executive Officer)Timothy C. Gupton(Executive Officer)

BoardJesse I. Treu(Director)inRichard J. Markham(Director)

Co-investorsDomain Associates TVM Capital TVM Capital Life Science

Curasencurasen.com

CuraSen Therapeutics is a privately funded biopharmaceutical company developing treatments that selectively activate adrenergic receptors in the brain to restore noradrenergic signaling.

BiotechHealthtech

Anthony Fordin

Co-investorsAlta Partners Longitude Capital abrdn plc Intermediate Capital Group Johnson & Johnson Innovation – JJDC New Leaf Venture Partners +2 more

Curzion Pharmaceuticals

Dynogen Pharmaceuticals

Ebm Solutions

Elitra Phramaceuticals

Emerald Bioagricultureemeraldbio.com

Emerald BioAgriculture develops biology-based products and solutions using advanced biomanufacturing processes for plant, animal, and human health across various markets.

AgTechBiotechCleantechDeep TechHealthtechNew MaterialsKennett Square, US

Enlaza Therapeuticsenlazatx.com in

Enlaza Therapeutics develops covalent protein therapeutics using its War-Lock technology, which incorporates proprietary unnatural amino acids into protein drugs so they form irreversible covalent bonds with disease-related targets.

BiotechDeep TechSan Diego, US

Sergio Duron(Co-Founder & Chief Executive Officer)inSanford Madigan(Co-Founder, President & Chief Business Officer)inAnaleah Heidt(Chief Scientific Officer)in

BoardMarcos Milla(Director)Jay Lichter(Director)Tighe Reardon(Executive Officer)

Co-investorsFrazier Life Sciences Lightspeed Venture Partners Samsara BioCapital Avalon BioVentures Pfizer Venture Investments OrbiMed

Envisia Therapeutics in

BiotechMorrisville, US

Ben Yerxa(Executive Officer)inEric Linsley(Executive Officer)in

BoardEd Mathers(Director)inStephen Bloch(Director)inSeth Rudnick(Director)inNeal Fowler(Director)

Co-investorsNew Enterprise Associates (NEA)Canaan Partners

Flowcardia

Gentis

IlluminOss Medical in

BiotechEast Providence, US

Manny Avila(Executive Officer, Director)inDirk Kuyper(Executive Officer, Director)inRobert Rabiner(Executive Officer)

BoardDaniel Omstead(Director)Fouad Azzam(Director)Rajeev Dadoo(Director)

Co-investorsLife Sciences Partners

Istari Oncology

BiotechMorrisville, US

Marc Banjak(Executive Officer)Matthew W. Farber(Executive Officer)William G. Nichols(Executive Officer)Matthew R. Stober(Executive Officer, Director)

BoardRobert Bonczek(Director)Raymond Cheong(Director)

Kezar Life Scienceskezarlifesciences.com in 𝕏

BiotechSouth San Francisco, US

John F. Fowler(Executive Officer, Director)inChristopher J. Kirk(Executive Officer, Director)

BoardDr. Gerald Chan(Director)Dr. Jean-Pierre Sommadossi(Director)

Co-investorsBay City Capital Chiesi Ventures Solasta Ventures EcoR1 Capital Qiming Venture Partners

Lead Therapeutics

LipoScience

Medical product company using NMR technology to develop diagnostic tests for cardiovascular, metabolic and other diseases.

Co-investorsHavencrest Capital Management

Lumena Pharmaceuticals

Marina Biotech

BiotechBothell, US

J. Michael French(Executive Officer, Director)Richard T. Ho(Executive Officer)

BoardR. John Fletcher(Director)Donald A. Williams(Director)Stefan Loren(Director)Philip C. Ranker(Director)

Member National Venture Capital Associationnvca.org in

This is a policy/advocacy page from the National Venture Capital Association (NVCA) about protecting foreign investment into U.S. venture funds and startups, addressing CFIUS regulations.

Washington, US

Methylgene

Milestone Pharmaceuticalsmilestonepharma.com in 𝕏

Milestone Pharmaceuticals is a life sciences company that develops therapies for patients with cardiovascular and other diseases.

BiotechDigital HealthHealthtechMedical DevicesMontreal, US

Ela Borenstein(Director)Francis Plat(Executive Officer)Yves Rosconi(Director)Scott Weiner(Director)Martin Maguire(Executive Officer)Philippe Douville(Executive Officer, Director)

Co-investorsForbion

Mirum Pharmaceuticals

Nereus

Nuvasive

Optherion

OrphoMedMay 2017

BiotechMill Valley, US

Nikhilesh Singh, Ph.D.(Director, President, Chief Executive Officer and Treasurer)

BoardMichael Chao(Director)Thomas D. Kiley(Director)

Co-investorsNew Enterprise Associates (NEA)Pappas Capital Takeda Ventures

Panacos Pharmaceuticals

Peninsula Pharmaceuticals

Plexigen

Exits · 4

IPOs and acquisitions across the tracked portfolio

4D Molecular TherapeuticsNASDAQ: FDMTCyclerion TherapeuticsNASDAQ: CYCNLiquidia TechnologiesNASDAQ: LQDASyndax PharmaceuticalsNASDAQ: SNDX

Portfolio news

latest coverage across their companies

Head to Head Review: Nutriband (NASDAQ:NTRB) and Cyclerion Therapeutics (NASDAQ:CYCN) - Stock Observer

Cyclerion Therapeutics · thestockobserver.com · Sep 3, 2026

Persistent Asset Partners Ltd Makes New $1.94 Million Investment in 4D Molecular Therapeutics, Inc. $FDMT

4D Molecular Therapeutics · marketbeat.com · Aug 17, 2026

Liquidia Technologies earnings missed by $0.02, revenue topped estimates By Investing.com

Liquidia Technologies · investing.com · Aug 12, 2026

Milestone Pharmaceuticals Announces Second Quarter 2026 Financial Results and Provides Corporate Update - BioSpace

Milestone Pharmaceuticals · biospace.com · Aug 12, 2026

Syndax (SNDX) Q2 2026 Earnings Call Transcript - AOL

Syndax Pharmaceuticals · aol.com · Aug 12, 2026

Kardigan raises $254M, Kezar plans layoffs, Kite and Pregene ink $1.52B cell therapy deal | Partnology

Kezar Life Sciences · partnology.com · Oct 21, 2025

Investors - AER Therapeutics

Aer Therapeutics · aertherapeutics.com · May 5, 2025

Frequently asked questions

How many investments has Pappas Capital made?: Pappas Capital has 82 tracked investments.
What stage does Pappas Capital invest at?: Pappas Capital invests at the Pre-Seed, Seed, Series A, Series B, Series C, Late Stage stages.
What sectors does Pappas Capital focus on?: Pappas Capital focuses on AgTech, Biotech, Consumer, Crypto & Web3, Digital Health, Fintech, Healthtech, Medical Devices, SaaS.
Where is Pappas Capital located?: Pappas Capital is headquartered in Durham, US.
Who does Pappas Capital co-invest with?: Pappas Capital most often shares deals with Chiesi Ventures, Sofinnova Ventures, Hatteras Venture Partners, among 38 tracked co-investors.

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