DFX Intelligence
Venture Capital Intelligence
Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.
Firms / Pappas Ventures
Pappas Ventures
Pappas Capital is among the Top Healthcare Venture Capital Firms, focused on advancing biopharma, biotech, and medical technologies that improve patient outcomes.
venture manager, reported GAV $187M across 8 vehicles
Importance
53
elevated
Active deployment
55
elevated
Emerging
0
low
Completeness
69
high
Freshness
100
high
Research priority
22
moderate
Identity and regulatory footprint
- Headquarters
- Durham, NCadviserinfo.sec.gov
- Office address
- 2520 MERIDIAN PARKWAY, SUITE 400, Durham, NC, 27713adviserinfo.sec.gov
- Business phone
- 919-998-3300adviserinfo.sec.gov
- Website
- HTTP://WWW.AMPAPPAS.COM
- SEC adviser type
- exempt reporting adviseradviserinfo.sec.gov
- SEC exemption claimed
- venture capital fund adviseradviserinfo.sec.govItem 2.B(1): advises solely venture capital funds
- Latest Form ADV
- Mar 31, 2026
- Private funds reported
- 8 (8 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $165Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Owners on Schedule A
- AMP Family Partnership I (Member), E; Ford S. Worthy Revocable Trust (Member), B; Arthur M. Pappas Revocable Trust (Managing Partner And Member), NA; 2011 Adam N. Pappas Trust (Owner), C; 2011 Kimberly a. Pappas Tupper Trust (Owner), C; AMP GP Holdings, Inc. (Owner), F
- business phone
- 919-998-3300adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
80 observed deals
Stated (the firm’s website)
- Sectors
- biotech, agtech
- Stages
- not stated or not yet read
- Geography
- asia, canada, germany, global, united states
- Check size
- not stated; DFX does not estimate checks from round sizes
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors
unknown 91%Biotechnology 6%Pharmaceuticals 3%
lead rate n/afollow-on rate n/anew logos, 12 months 80
Funds and vehicles
8 reported, 4 no longer reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Pappas Life Science Ventures VI, LP | Fund | 2024 adv first reported | Early deployment | $37.0M Mar 27, 2024 | 25 | $0 of $250M | Mar 14, 2022 |
| PV VI Ceo Fund, LP | Fund | 2024 adv first reported | Early deployment | $6.4M Mar 27, 2024 | 22 | $0 of $25.0M | Mar 14, 2022 |
| Asia Innovation Ventures, LP | Fund | 2021 form d first sale | Mature | $89.8M Mar 27, 2024 | 5 | $200M of $200M | Sep 17, 2021 |
| A.M. Pappas Life Science Ventures V, LP | Fund | 2017 form d first sale | Harvest | $18.9M Mar 27, 2024 | 30 | $85.8M of $85.8M | Jan 15, 2019 |
| PV V Ceo Fund, LP | Fund | 2017 form d first sale | Harvest | $1.7M Mar 27, 2024 | 29 | $7.0M of $7.0M | Jan 15, 2019 |
| Chiesi Ventures, LP | Fund | 2015 adv first reported | Harvest | $26.8M Mar 27, 2024 | 2 | unknown | unknown |
| PV IV Ceo Fund, LP | Fund | 2009 form d first sale | Harvest | $279,144 Mar 27, 2024 | 24 | $3.9M of $3.9M | May 8, 2009 |
| A. M. Pappas Life Science Ventures IV, LP | Fund | unknown | Unknown | $6.3M Mar 27, 2024 | 11 | unknown | unknown |
| A. M. Pappas Life Science Ventures II, LP | Fund | unknown | Wound down | $3.7M Mar 31, 2016 | 91 | unknown | unknown |
| A. M. Pappas Life Science Ventures III, LP | Fund | unknown | Wound down | $3.1M Mar 24, 2021 | 21 | unknown | unknown |
| PV III Ceo Fund, LP | Fund | unknown | Wound down | $206,424 Mar 24, 2021 | 28 | unknown | unknown |
| A. M. Pappas Strategic Equities Fund IV, LP | Fund | unknown | Wound down | $130,111 Mar 28, 2013 | 6 | unknown | unknown |
GAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.
Investment team
32 current, 1 departed
Bruce Sullenger
AssociateJ. W. and D. W. Beard Distinguished Professor of Experimental Surgery, Associate Professor Duke University
Antonio Chow
Board or advisoryAsia Regional Advisor
Bob White
Board or advisorySenior Advisor
Catherine Yue
Board or advisoryAdvisor
Patrick Daly
Board or advisorySenior Advisor
Richard Pascoe
Board or advisorySenior Advisor
Stanley Lau
Board or advisorySpecial Advisor
Thyagi Thyagarajan
Board or advisorySpecial Advisor
Tina Wong-Russell
Board or advisoryAdvisor
Victor Shi
Board or advisorySpecial Advisor
Art Pappas
Managing partnerManaging Partner
Eoin McDonnell
OtherExecutive in Residence
Arthur M. Pappas
PartnerOwner · since Jan 1, 2017
Drew Cutshaw
PartnerManaging Director and Medical Officer
Elizabeth Kelly
PartnerManaging Director
Ford S Worthy
PartnerOwner · since Jan 1, 2017
Ford Worthy
PartnerPartner and Senior Advisor
Phillip Graham
PartnerManaging Director
Tom Mathers
PartnerPartner
Vicky McCauley
PartnerProject Manager
Glenda Crumpler
Platform and operationsExecutive Assistant
Lisa Dreyer
Platform and operationsSenior Associate, Operations
Matthew a. Boyer
Platform and operationsChief Financial Officer · since Jul 1, 2019
Nikki Heron
Platform and operationsChief Financial Officer
Barry Myers
Venture partnerSenior Venture Partner
David Savello
Venture partnerVenture Advisor
Franz Humer
Venture partnerVenture Partner and Senior Advisor
Mike Grey
Venture partnerVenture Partner
Miranda Gottlieb
Venture partnerVenture Partner
Richard Staub
Venture partnerVenture Partner
Russel Kaufman
Venture partnerVenture Partner
William Pay
Venture partnerVenture Partner
1 departed (kept with end dates)
- Eric W. Linsley · Managing Partner And Member · Mar 1, 2000 to Mar 31, 2015 Inference
Investments on record
80 edges, 80 companies, 0 partner-attributed
“This investor” is the amount disclosed for this investor alone; it is unknown unless a source said it. The round size is the whole round.
Co-investors
18 relationships from shared deals, counted for the whole firm
Canaan Partners 3 shared · recurring1st Course Capital Management, LLC 1 shared · one timeMitsui & Co. Global Investment, Inc. 1 shared · one timeBoston Millennia Partners 1 shared · one timeRED Rock Ventures 1 shared · one timeEudemian Ventures, LLC 1 shared · one timeGranite Growth Health Partners 1 shared · one timeTask Force X Capital Management, LLC 1 shared · one timeOmega Fund Management, LLC 1 shared · one timeJuvo Ventures, LLC 1 shared · one timePresidio Partners Management, LLC 1 shared · one timeK1 Investment Management LLC 1 shared · one timeAvalon Ventures Management, LLC 1 shared · one timeTOP Tier Capital Partners, LLC 1 shared · one timeAdvent Life Sciences LLP 1 shared · one timeMPM Bioimpact 1 shared · one timeCamden Partners Growth Equity 1 shared · one timeFundersclub Inc. 1 shared · one time
Limited partners
0 disclosed
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.
Timeline
19 dated events
- Mar 27, 2024PV VI Ceo Fund, LP first reported on Form ADV by Pappas Ventures (Venture Capital Fund), GAV $6,425,726Fund first reported on Form ADVFundsFactPV VI Ceo Fund, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 27, 2024Pappas Life Science Ventures VI, LP first reported on Form ADV by Pappas Ventures (Venture Capital Fund), GAV $36,952,396Fund first reported on Form ADVFundsFactPappas Life Science Ventures VI, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2022A. M. Pappas Life Science Ventures III, LP no longer reported on Form ADV by Pappas VenturesFund no longer reportedFundsInferenceA. M. Pappas Life Science Ventures III, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2022Asia Innovation Ventures, LP first reported on Form ADV by Pappas Ventures (Venture Capital Fund), GAV $99,463,941Fund first reported on Form ADVFundsFactAsia Innovation Ventures, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2022PV III Ceo Fund, LP no longer reported on Form ADV by Pappas VenturesFund no longer reportedFundsInferencePV III Ceo Fund, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Jul 1, 2019Matthew a. Boyer joined Schedule A of Pappas Ventures as Chief Financial Officer
- Mar 29, 2017A. M. Pappas Life Science Ventures II, LP no longer reported on Form ADV by Pappas VenturesFund no longer reportedFundsInferenceA. M. Pappas Life Science Ventures II, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2017PV V Ceo Fund, LP first reported on Form ADV by Pappas Ventures (Venture Capital Fund), GAV $6,206,412Fund first reported on Form ADVFundsFactPV V Ceo Fund, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2017A.M. Pappas Life Science Ventures V, LP first reported on Form ADV by Pappas Ventures (Venture Capital Fund), GAV $64,782,654Fund first reported on Form ADVFundsFactA.M. Pappas Life Science Ventures V, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2015Chiesi Ventures, LP first reported on Form ADV by Pappas Ventures (Venture Capital Fund), GAV $63,388,857Fund first reported on Form ADVFundsFactChiesi Ventures, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2015Eric W. Linsley (Managing Partner And Member) no longer on Schedule A of Pappas Ventures
- Mar 31, 2014A. M. Pappas Strategic Equities Fund IV, LP no longer reported on Form ADV by Pappas VenturesFund no longer reportedFundsInferenceA. M. Pappas Strategic Equities Fund IV, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Apr 2, 2012PV III Ceo Fund, LP first reported on Form ADV by Pappas Ventures (Venture Capital Fund), GAV $4,825,600Fund first reported on Form ADVFundsFactPV III Ceo Fund, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Apr 2, 2012A. M. Pappas Life Science Ventures II, LP first reported on Form ADV by Pappas Ventures (Venture Capital Fund), GAV $19,822,237Fund first reported on Form ADVFundsFactA. M. Pappas Life Science Ventures II, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Apr 2, 2012A. M. Pappas Life Science Ventures IV, LP first reported on Form ADV by Pappas Ventures (Venture Capital Fund), GAV $83,905,235Fund first reported on Form ADVFundsFactA. M. Pappas Life Science Ventures IV, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Apr 2, 2012A. M. Pappas Life Science Ventures III, LP first reported on Form ADV by Pappas Ventures (Venture Capital Fund), GAV $78,163,866Fund first reported on Form ADVFundsFactA. M. Pappas Life Science Ventures III, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Apr 2, 2012A. M. Pappas Strategic Equities Fund IV, LP first reported on Form ADV by Pappas Ventures (Venture Capital Fund), GAV $196,302Fund first reported on Form ADVFundsFactA. M. Pappas Strategic Equities Fund IV, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Apr 2, 2012PV IV Ceo Fund, LP first reported on Form ADV by Pappas Ventures (Venture Capital Fund), GAV $3,980,455Fund first reported on Form ADVFundsFactPV IV Ceo Fund, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Apr 2, 2012Pappas Ventures first filed Form ADV (ERA, venture capital fund adviser exemption)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 15, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $187M across 8 vehicles
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $154M across 5 vehicles
Evidence
58 observations from 3 sources