The Catalyst Fund is a collaborative partnership established to help Wake Forest Baptist Medical Center faculty inventions with significant clinical and commercial potential advance and attract licensing and risk-sharing partnerships, private sector investment, and complementary grant or sponsored research funding. It was launched with a $15-million commitment that aims to support two – three dozen novel technologies over a four- to five-year period. While the basic model is focused on pre-license, pre-company formation translational-stage technologies, the Fund also has the flexibility to make seed investments in its technology start-ups. Pappas Capital acts as the Fund’s independent Program Manager.