Hatteras Venture Partners has closed on $74 million in a new round of fund raising.

The Durham-based company has set a target of $125 million. It’s the fourth fund raised by Hatteras.

Included is a new fund called Hatteras Discovery, which will focus on life science startups. The fund is led by Christy Shaffer, the former chief executive officer of Inspire Pharmaceuticals.

Schaffer joined Hatteras in February and will direct the Discovery fund.

For more details, check out WRAL Tech Wire content partner MedCity News’ report here.

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