Hatteras Venture Partners closes on $90M for new fund, promotes Christy Shaffer

Durham-based Hatteras Venture Partners has closed on $90 million for a new venture fund and is aiming for another $60 million.

Hatteras, which focuses on life science investments, also promoted Christy Shaffer, a former CEO of Inspire Pharmaceuticals, to General Partner, reflecting an expanded commitment to early-stage and startup ventures.

To further focus on earlier stage investments, Hatteras has formed a new partnership that it says will help grow companies from “seed stage to maturity.”

Hatteras announced the closing on its fifth fund, or HVP V, early Monday.

The partnership is with Malin Corporation.

Malin is an investment in the new fund as is the University of North Carolina.

“Having so many of our limited partners return to participate in HVP V and Malin and UNC join as new LPs is a testament to our successful track record of seeding and growing life sciences companies,” said Bob Ingram, veteran life science executive and general partner of Hatteras Venture Partners, in announcing the fund. “The breakthrough science and world-class service providers in our region have created a vibrant ecosystem that has proven capable of taking early stage companies’ products from the bench through approval and to patients, making it an area deserving of capital investment.”

Hatteras said up to 20 percent of the new fund would target seed-stage projects and startups.

Shaffer has led much of the focus on early-stage firms in serving as Managing Director of Hatteras Discovery.

“We launched Hatteras Discovery with HVP IV in 2011 to fund seed-stage projects and companies focused on human medicine and life sciences,” said Clay Thorp, who also is a general partner of Hatteras Venture Partners. “It has been a tremendous success with G1 Therapeutics, Clearside Biomedical, and Lysosomal Therapeutics collectively raising more than $90 million following the seed rounds with Hatteras Discovery and accelerating their clinical programs by 12 months, on average. With HVP V, we look forward to building on the heritage of seeding successful companies.”