Hatteras Venture Partners has raised over $200 million across two new funds to support early-stage life science companies. The North Carolina-based firm also celebrated its 100th investment after 25 years in the industry. The funds, Hatteras Venture Partners VII and Hatteras Opportunity Fund I, will focus on seed and early-stage investments in biotech, medtech, and healthtech startups.
Hatteras has raised more than $900 million across seven venture funds since its founding in 2000. “Across 100 portfolio companies and 25 years, we’ve had our share of exhilarating wins and heartbreaking disappointments,” said Clay Thorp, General Partner at Hatteras. “What has been most gratifying in this journey is the relationships we have made with scholarly innovators, committed entrepreneurs, and resilient co-investors.”
Some of Hatteras’s notable investments include Kymera Therapeutics, which the firm backed in a $65 million Series B round in 2018.
Kymera, now a publicly traded company, has attracted partnerships with Sanofi and Gilead for its targeted protein degradation technology. Hatteras also led the seed funding for G1 Therapeutics and participated in subsequent rounds through the company’s $105 million IPO in 2017.
investing in future life sciences
G1’s FDA-approved drug Cosela helps reduce bone marrow damage during chemotherapy treatment. Despite a challenging market environment, Hatteras remains optimistic about the biotech sector’s prospects. The firm’s confidence is shared by others, such as Frazier Life Sciences, which recently raised $1.3 billion to invest in early-stage biotech companies.
Alongside the new funds, Hatteras announced the promotions of Lauren Flickinger and Ben Scruggs to Partner. Flickinger will continue to lead the firm’s healthtech investments, while Scruggs will focus on biotech and research tools. “Ben and Lauren possess the values, instincts, and tenacity we need to lead Hatteras into the future,” said John Crumpler, Co-Founder and General Partner.
“The opportunity for them to lead new deals and harvest existing investments in HVP VII is tremendous.”
As Hatteras looks ahead to the next 25 years, the firm remains committed to supporting transformative life sciences companies that aim to disrupt healthcare and accelerate innovation. With a strong track record and fresh capital, Hatteras is well-positioned to continue making an impact in the industry.