Kyle Rasbach, a former executive at asset management firm T. Rowe Price, is the newest partner at Triangle-based Pappas Capital And he’s already very familiar with the VCs at the 23-year-old venture capital firm.

Pappas Capital

Pappas Capital recently changed its name from Pappas Ventures.

Rasbach helped lead T. Rowe Price’s investment in CoLucid Pharmaceuticals, a Pappas portfolio firm that sold in early 2017 to Eli Lilly for nearly $1 billion.

“Kyle’s deep scientific experience will further position Pappas Capital to identify and nurture the most promising biotech companies,” said Managing Partner Art Pappas in the announcement, which was made on Thursday. “And meanwhile, his extensive background in equity research and public market investing will add an important new dimension to our firm.”

Rasbach, a PhD, was an equity research analyst who focused on pharmaceutical, specialty pharmaceutical and biotechnology investments.

“I am thrilled to become part of the Pappas Capital team, whose track record and reputation for building innovative companies I have long admired,” Rasbach said. 

Pappas Capital says it expects Rasbach to have a “key role” in investments for its most recently closed fund Pappas Ventures V.

Rasbach worked earlier in his career as a vice president at Cowen and Company. He earned graduate degrees at the Medical University of South Carolina and the Citadel.