VC News | Cape Fear BioCapital focused on therapeutics in the Tar Heel state
Era Ventures focused on investing in a broad range of business model innovations to catalyze positive change in the built world.
From Research Triangle Park, NC:
In a game-changing move for the local life sciences sector, North Carolina venture firm Cape Fear BioCapital has announced 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 North Carolina-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 Chief Executive Officer 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 percent 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 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 North Carolina life sciences ecosystem uniquely positions them to spot breakthrough innovations and companies.
From Chicago, IL:
Moderne Ventures, a Chicago, IL-based venture capital and growth equity firm, raised more than $230 million for MV Core Fund III. The closing of Fund III brings the firm’s total assets under management to more than $500 million.
Led by Founder and Managing Partner Constance Freedman and Partner Liza Benson, Moderne’s core funds back start-ups across real estate, finance, insurance, and sustainability. They invest in companies with between $2 and $20 million in revenue. The firm is also set to raise its first Growth Fund this year, which will enable Moderne to double down on its highest growth portfolio companies across funds and bring additional high performing later stage companies onto its platform.
From San Francisco, CA:
Thayer Ventures, a venture capital firm focused on technology innovation in travel and hospitality, and Derive Ventures, the most active early stage investment firm dedicated to travel and hospitality, announced the formation of Thayer Investment Partners (TIP). The new platform will leverage the experience of both firm’s founding members to drive value for industry partners and invest in a new generation of innovative start-up companies.
Thayer Ventures’ Chris Hemmeter and Derive’s Founders Tyler Carrico and Mike Scott will serve as Managing Partners for the new platform, which expects to launch a new investment fund in the coming weeks. Previous funds launched by Thayer Ventures and Derive Ventures, respectively, will continue to be managed as they have been since inception; new funds will be managed under the combined TIP leadership.
Founded in 2009, Thayer Ventures invests in early stage travel and hospitality. Derive Ventures, founded in 2022, is an early stage venture fund investing in the next generation of hospitality, experiences, and real estate; its mission is to bridge the gap between technology and travel by supporting entrepreneurs shaping the future.
Another from San Francisco:
From New York City:
Era Ventures, a venture capital firm focused on investing in a broad range of business model innovations to catalyze positive change in the built world, has announced the launch of its inaugural $88 million fund. Clelia Warburg Peters, a former Partner at Bain Capital Ventures, left Bain in 2022 to launch her own firm along with Partner Raja Ghawi. Limited partners include New York Presbyterian Hospital, Continental General Insurance Company, Fenwick & West, and her former firm, Bain Capital Ventures.
In a LinkedIn post, the Peters and Ghawi wrote, “It takes a village to raise a venture fund, and we have been supported by an extraordinary group of founders, limited partners, and friends. It’s one of life’s great gifts to get to work alongside people you both like and admire.”
Era Ventures has already backed 10 start-ups, according to an article in TechCrunch. They include Honey Homes, a subscription service for handymen; ViaBot, a robotics company that Peters called a Roomba for parking lots; and Truehold, a start-up that buys homes from seniors and leases them back.
The firm generally invests in start-ups from seed to Series B, with the average check ranging from $3 million to $5 million.
Another from New York City:
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