Cape Fear BioCapital Announces Final Close of Fund I
Strategic expansion adds institutional partners, founders, and operators who share the firm’s vision to build the next
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RESEARCH TRIANGLE PARK, N.C., Sept. 03, 2026 (GLOBE NEWSWIRE) — Cape Fear BioCapital, a venture firm dedicated to investing in and building world-class therapeutics companies in North Carolina, today announced the successful final close of Fund I. The expanded fund deepens the firm’s investor base, increases its investment capacity, and strengthens support for companies across its portfolio.
Cape Fear purposefully expanded Fund I to partner with a select group of strategic investors, assembling a base of North Carolina biotech leaders and strategic partners who bring the capital and expertise needed to unlock opportunity in the state. These partners include Parexel and a curated group of operators, founders, and executives from the state. The Fund is anchored by Moore Strategic Ventures, the privately held investment company of Louis M. Bacon, a native of North Carolina, and Founder and Chief Executive Officer of Moore Capital Management, LP.
In June 2026, the firm partnered with Parexel to launch the Parexel Biotech Incubator, an initiative that expands the resources available to early-stage therapeutics companies by connecting them with the clinical and regulatory development expertise needed to advance their programs.
Since its launch in late 2024, Cape Fear has made seven investments in North Carolina biotech companies, selected from a pool of more than 200 early-stage opportunities. These companies are achieving key milestones, building momentum, and attracting follow-on investment, validating the firm’s thesis that North Carolina’s science and talent can be developed into venture-backable, globally competitive enterprises. The expanded fund builds on that foundation with capacity to invest in three to five additional North Carolina biotech startups.
“When we launched, we said North Carolina had everything it needed to build world-class biotech companies except access to early capital and the operators who’ve done it before,” said Ed Field, General Partner of Cape Fear BioCapital. “The opportunity is clearer than ever, and expanding the fund lets us bring on exactly the founders and leaders needed to back the North Carolina entrepreneurs seeking to build their startups.”
The new limited partners bring more than capital. They are founders, operators, and executives who have started, scaled, and sold biotech companies in the state, and they now bring that experience directly to Cape Fear’s portfolio.
“As an operator who successfully built and exited a biotech company in North Carolina, I’ve seen the need for strong early support,” said Brendan Griffin, who led Propella Therapeutics through its $175M acquisition by Astellas Pharma in 2023. “I invested with Cape Fear to contribute both capital and my operating experience to our most promising startups so they can grow here, while also backing a compelling approach to driving value creation.”
Cape Fear is led by General Partners Ed Field, Jimmy Melton, and Dave Ousterout, who have collectively founded and led numerous North Carolina ventures. The firm writes first checks and builds hands-on at the earliest stage by connecting founders to the right leadership and staying focused on driving towards key milestones.
“Cape Fear relentlessly focused on bringing both capital and experience to this venture,” said Mike Dombeck, CEO of EnFuego Therapeutics. “They wrote the first institutional check and brought me in to drive the company’s drug candidates towards clinical development. We share founder Dr. Chad Pecot’s deep conviction to translate his research into transformative medicines for cancer patients.”
North Carolina is a leading hub for life sciences research and talent. The momentum of Fund I and its maturing portfolio sets the stage for a second fund with the scale to match the firm’s ambition of investing in and launching more than 40 seed-stage companies in the state during its first decade.
Website: www.capefearbiocap.com
LinkedIn: www.linkedin.com/company/capefearbiocap
About Cape Fear BioCapital
Cape Fear BioCapital is an early-stage venture fund dedicated exclusively to the formation and growth of ventures in North Carolina. It writes first checks and builds hands-on at the earliest stage or opportunistically joins strong syndicates for later-stage North Carolina companies already in flight. The fund is focused on early-stage therapeutics and related technologies for human health.
David Ousterout dave@capefearbiocap.com
