Hatteras Venture Partners' Growth in Healthcare Investments

Hatteras Venture Partners' Strategic Expansion

Hatteras Venture Partners has recently taken significant strides in the healthcare sector by raising over $200 million through two impressive funds, Hatteras Venture Partners VII (HVP VII) and Hatteras Opportunity Fund I, LP (HOF I). This milestone marks an exciting chapter for the firm, which now celebrates its 100th investment in transformative healthcare companies and its 25th year dedicated to fostering innovation in human medicine.

Celebrating a Major Milestone

The announcement comes amid notable achievements, including the recent strategic acquisition by portfolio company HistoSonics. Clay Thorp, General Partner, reflects positively on Hatteras Venture Partners’ journey, highlighting the excitement of new beginnings alongside the challenges faced throughout the years. The relationships formed with groundbreaking innovators and steadfast entrepreneurs have been particularly gratifying as they look to the future.

A Strong Legacy of Investment

Since its inception in 2000, Hatteras has demonstrated a strong commitment to investing in seed- and early-stage companies. Beginning with a modest $2.93 million, the firm has since grown its capital management to over $900 million, focusing on sectors such as biotechnology, medical technology, and health innovation. This evolution illustrates their extensive expertise and dedication in the competitive landscape of healthcare.

Portfolio Highlights

Throughout its history, Hatteras has played a critical role in many noteworthy companies:

• HistoSonics, Inc. has pioneered a novel ultrasound technique known as histotripsy. Following FDA approval in 2023 for its device designed to destroy liver tumors, HistoSonics achieved notable success in hospitals nationwide, recently valued at $2.25 billion after a groundbreaking acquisition.
• Kymera Therapeutics, Inc. emerges as a leading figure in the protein degradation sector. After participating in Kymera’s Series B funding, Hatteras has seen the company’s remarkable growth, with a market capitalization exceeding $3 billion today.
• G1 Therapeutics, Inc., a developer of the CDK 4/6 inhibitor trilaciclib, achieved an impressive market valuation and was acquired following its IPO in 2017, showcasing Hatteras’s capacity for nurturing successful drug development.
• Jumo Health, Inc., known for innovating health education for clinical trials, underwent a successful transition under Hatteras’s leadership, culminating in a lucrative acquisition that significantly benefited the firm.
• Iris Healthcare, Inc. specializes in comprehensive care plans for patients, with Hatteras leading its funding round, contributing to its successful acquisition in 2023.
• Asthmatx, Inc. developed a leading medical device for asthma treatment, gaining FDA approval and securing a profitable acquisition, further validating Hatteras's vision in medical advancements.
• Synthematix, Inc. started as Hatteras's first investment in 2000, making strides in the electronic laboratory notebook field before its successful sale.

Looking Forward: A Vision for the Future

Hatteras is not only focused on expanding its financial base but also on strengthening its team for future endeavors. The firm has recently promoted Ben Scruggs, Ph.D., and Lauren Flickinger to partner positions, indicative of the firm’s confidence in their leadership capabilities. They bring a wealth of expertise to guide the firm as it continues to seek promising investments in emerging biopharmaceuticals and health technologies.

John Crumpler, Co-Founder, expressed strong optimism about the future, emphasizing the opportunity for both Ben and Lauren to lead innovative efforts. Their leadership will be crucial as the firm embarks on the next rewarding chapter of its journey.

About Hatteras Venture Partners

Hatteras Venture Partners operates from Research Triangle Park, N.C. with a specific focus on seed- and early-stage opportunities in biopharmaceuticals, medical device innovation, and advanced health solutions. With more than $900 million managed across seven funds, Hatteras is recognized for its extensive expertise and successful track record in nurturing early-stage companies.

For inquiries, please contact: Robin Fastenau
Email: robin@hatterasvp.com

Frequently Asked Questions

What is Hatteras Venture Partners' recent achievement?

They raised over $200 million for two new healthcare-focused funds.

What types of companies does Hatteras prioritize for investment?

Hatteras primarily invests in seed- and early-stage healthcare companies, including biopharmaceuticals and medical technologies.

Who are the recently promoted leaders at Hatteras?

Ben Scruggs, Ph.D., and Lauren Flickinger were recently promoted to partner positions.

What is the focus of the funds Hatteras has recently closed?

The funds focus on innovative life sciences companies aimed at transforming healthcare.

How does Hatteras Venture Partners support its portfolio companies?

Through strategic investments, leadership guidance, and fostering valuable relationships within the healthcare sector.

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