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Elizabeth Kelly, ’11


Elizabeth Kelly joined Pappas Capital in 2021. Prior to joining Pappas, she consulted for early-stage life sciences and technology companies, coaching, and advising management teams on fundraising, growth, competitive and business development strategies.

Elizabeth was previously part of the investment team at Echo Health Ventures, and its predecessor, Mosaic Health Solutions, both subsidiaries of Blue Cross NC. She worked on all aspects of the investment process, from identifying and evaluating digital health investment opportunities, to closing transactions and working with portfolio companies to accelerate growth strategies. Elizabeth structured the merger of Mosaic and Cambia Health Solutions’ investment teams that resulted in the launch of Echo in 2016. In addition, she took on an interim role advising

Blue Cross NC on corporate development initiatives, contributing financial and operational expertise to set-up a payer-provider joint venture.

Prior to Mosaic, Elizabeth had a variety of cross-functional responsibilities at Chimerix (NASDAQ: CMRX), a biopharmaceutical company developing antiviral therapies. In addition to playing a leadership role in the company’s 2013 IPO, she spearheaded activities in corporate development, finance, marketing, IR, and PR. She began her career as an Analyst at Pappas Ventures, where she managed the deal flow process and supported fundraising efforts for a $102 million new venture fund.

Elizabeth holds an MBA from the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill, where she also holds a bachelor’s degree in Management and Spanish.