Durham-based Hatteras Venture Partners received some help from a federal government program as it closed on a new $125 million fund.

Hatteras announced the closing Monday.

As part of the fund raiser, Hatteras became the first venture firm to be licensed by the U.S. Small Business Administration’s emerging Early Stage SBIC Program.

As a “Licensed Early Stage SBIC” Hatteras received “SBA-guaranteed debenture leverage of up to 100 percent of their Regulatory Capital, up to a maximum of $50 million” as spelled out in a government notice about the program.

The goal of the program is to target emerging businesses.

“Early Stage SBICs must invest at least 50 percent of their investment dollars in early stage small businesses,” the notice explains. “For the purposes of this initiative, an “early stage” business is one that has never achieved positive cash flow from operations in any fiscal year.”

Through Dec. 28, Hatteras said in an SEC filing that it had raised $74.9 million of the $125 million target. Some 47 investors had participated in the funding at that point.

The fund is the fourth raised by Hatteras since it was formed in 2000.

As part of the fourth fund, a special fund known as HVP IV SBIC was set up as part of the SBA program.

“We are gratified to achieve our fund target of $125 million,” said Bob Ingram, the firm’s general partner, in announcing the closing. “These funds will allow us to drive the numerous seed and early stage opportunities we are identifying in the human medicine life science field. During our fundraising process, our deal flow has grown substantially in number and quality.”

Hatteras plans to make between 12 and 14 investments through the fourth fund and another eight to 10 through its Hatteras Discovery program, which focuses on seed and early stage deals.

“As with HVP III, the limited partner base of HVP IV is over 90 percent institutional,” said Clay Thorp, General Partner. “In addition, we are pleased to have been selected by the SBA as the nation’s first Early Stage SBIC. Our SBIC license enables Hatteras to have the depth of capital required to be a strong financial partner for all of our portfolio companies.”

Hatteras has more than $250 million under management.