Durham, NC-based venture capital firm Hatteras Venture Partners closed its fourth fund at $125m.
As a part of the final closing, Hatteras Venture Partners IV (HVP IV) established a subsidiary fund, HVP IV SBIC, that is a licensee of the US Small Business Administration’s (SBA) newly established Early Stage SBIC Program.
Led by General Partners Bob Ingram and Clay Thorp, Hatteras Venture Partners will continue to invest in seed and early stage companies focusing on biopharmaceuticals, medical devices, diagnostics, healthcare IT, and related opportunities in human medicine. The firm will typically make investments in companies located in the research-driven, capitally-underserved regions of North Carolina and the Southeastern United States.
With the initial closing of HVP IV in August 2011 (read here), Hatteras established a sub-allocation of HVP IV called Hatteras Discovery to capitalize seed stage opportunities. To date, Hatteras Discovery has seeded Clearside Biomedical, Coferon and G1 Therapeutics while HVP IV has invested in Clinverse, Inc. and has co-invested with Hatteras Discovery in Clearside and Coferon.
HVP IV plans to have 12 to 14 portfolio companies and 8 to 10 seed projects/companies in Hatteras Discovery.