Two North Carolina firms announce new funds that could total $375 million

What timing!

With Life Science Tennessee’s annual conference opening today, we came across this article from WRAL TechWire that Pappas Capital is planning to raise a huge new investment fund, perhaps as much as $250 million.

The news came via a Securities and Exchange Commission (SEC) filing for Pappas Life Science Ventures VI LP. The targeted amount is more than triple the $85.8 million Pappas raised in its fund V in 2019. Durham, NC-based Pappas Capital focuses on life science investments.

Separately and not directly related to the life science sector, Chapel Hill, NC-based investment firm TrueBridge Capital Partners disclosed in an SEC filing that it plans to raise capital as much as $125 million for its new TrueBridge Blockchain I L.P.

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