Dr. William New will relocate to the Triangle and become the entrepreneur-in-residence at The Aurora Funds.

The newly created position at Aurora is part of its expansion, which has taken place since the firm closed on a new $85 million fund earlier this year. New had joined Aurora first as a special venture partner.

A physician, educator, engineer and corporate executive, New is a graduate of Duke University School of Medicine. He is a holder of 15 patents.

“I think that Aurora is better poised for continued success than most early-stage seed funds, in a geographic region that is especially ripe for entrepreneurial growth and success,” New said in a statement. “I believe that startups will have a significant role in the economic recovery of this region. I look forward to helping kick-start that growth and recovery –“

New is chairman of Natus Medical, a firm he founded in 1989. He also founded Nellcor Incorporated in 1981. His most recent educational position was associate dean of bioengineering at Oregon Health & Sciences University.

Aurora said New would relocate to the Triangle.

Aurora Funds: www.aurorafunds.com