Carolina Research Ventures, LLC, selected Research Triangle Park, NC-based venture capital firm Hatteras Venture Partners as the manager of its investment fund.
CRV is an early stage venture investment fund created to support companies sourced at the University of North Carolina at Chapel Hill. Investments will be made in companies involving UNC-CH technology or the use of UNC-CH resources or personnel.
Under the agreement, Hatteras will invest up to $10m. These operations will be separate from other Hatteras funds although they will have co-investors that include Hatteras as well as other venture firms from across the country.
Mike Dial, Ph.D., a Principal at Hatteras, will be the day-to-day manager for the CRV investment fund, assisted by Christy Shaffer, Ph.D., and Clay Thorp, General Partners at Hatteras. Dr. Shaffer and Mr. Thorp will both serve on the investment committee for the CRV fund with Dr. Dial.
In addition to involving Drs. Dial and Shaffer and Mr. Thorp, Hatteras will work with the CRV Advisory Board, which will involve venture capitalists and other advisors from across the country in a wide range of disciplines, including health care, IT, computer science and material sciences.