Cape Fear BioCapital Launches
to Seed NC’s Biotech Future
NC-based venture firm launches with inaugural fund focused on early-stage
therapeutics companies and expansion of investment in the region
RESEARCH TRIANGLE PARK, NC, September 12, 2024 –
In a game-changing move for the local life sciences sector, North Carolina venture firm Cape Fear BioCapital announced today a new seed fund aimed at building a thriving portfolio of therapeutics ventures that start here, grow here, and, ultimately, improve patients’ lives.
This visionary fund is dedicated to both supporting NC-based, early-stage therapeutics companies, and to cementing the state’s position as an international nucleus of life science innovation. The Fund is anchored by Moore Strategic Ventures, the investment firm of Louis M. Bacon, a native of North Carolina, and Founder and CEO of Moore Capital Management, LLC.
“Our region has an abundance of life sciences innovation, research and management talent, and lab space, but without early-stage funding many of our best opportunities will not be realized,” said Ed Field, Co-Founder and General Partner of Cape Fear BioCapital. “Only 1% of venture capital invested in North Carolina is at the Seed or Pre-Seed stage. Cape Fear BioCapital fills the gap, offering essential capital to our founders as they build their companies.”
Cape Fear BioCapital is led by Ed Field, Jimmy Melton, and Dave Ousterout – three life science leaders with deep ties to the region. As individuals, they have founded and led multiple successful ventures within North Carolina, raising over $370 million in financing and more than $3 billion in strategic contracts and collaborations. Their collective experience and understanding of the NC life sciences ecosystem uniquely positions them to spot breakthrough innovations and companies.
From the outset, Cape Fear BioCapital will make an initial investment in eight to ten early-stage therapeutics companies and provide the risk capital needed to achieve key milestones, such as: securing intellectual property, joining exceptional founders with management talent, and completing critical proof-of-concept research.
The fund will also leverage the operational and fundraising experience of its partners and advisors to help local innovators secure additional funding and strategic pharma partnerships. A $100 million follow-on fund is planned to expand the pipeline of biopharma startups built and operated within North Carolina.
“North Carolina is already a leading biopharma hub for clinical research, university research, and biomanufacturing,” said Doug Edgeton, CEO of the North Carolina Biotechnology Center. “These early-stage venture funds are critical to ensure our region’s continued growth as a global leader in therapeutics. We look forward to working with Cape Fear BioCapital to increase the translation of our university innovations into viable therapeutics enterprises.”
About Cape Fear BioCapital
Cape Fear BioCapital is a venture capital firm focused on making seed stage investments in life sciences therapeutic companies located in North Carolina. We provide our portfolio companies capital investment, operational support, and access to strategic partners, investors and advisors.
About Moore Strategic Ventures
Moore Strategic Ventures, LLC is the privately held investment company for Louis M. Bacon, Founder and CEO of Moore Capital Management, LP.