Hatteras Venture Partners Secures $200M for Early-Stage Life Sciences Investments

Hatteras Venture Partners, a North Carolina-based venture capital firm, has announced the successful closure of two funds totaling over $200 million. The capital raise, which includes the firm's seventh venture fund and the inaugural Hatteras Opportunity Fund, marks a significant milestone for the company as it celebrates investing in its 100th portfolio company over a 25-year span.

Fund Details and Investment Focus

The newly secured funds are earmarked for early-stage investments in the life sciences sector, encompassing biotechnology, medical technology, and healthcare technology startups. This latest financial injection brings Hatteras' total capital raised to over $900 million across seven venture funds since its inception.

Clay Thorp, General Partner of Hatteras, expressed enthusiasm about the firm's journey, stating, "Across 100 portfolio companies and 25 years, we've had our share of exhilarating wins … along with heartbreaking disappointments." Thorp emphasized the importance of relationships built with innovators, entrepreneurs, and co-investors, adding, "We look forward to continuing to invest in transformative life sciences companies disrupting the status quo in healthcare and accelerating the pace of innovation."

Notable Portfolio Successes

Hatteras highlighted several success stories from its biotech portfolio, including:

1. Kymera Therapeutics: Hatteras contributed to Kymera's $65 million Series B round in 2018. The now publicly listed biotech has since attracted attention from pharmaceutical giants Sanofi and Gilead for its RAK4 degraders and CDK2-directed molecular glue degraders, respectively.

2. G1 Therapeutics: Hatteras led the seed round for G1 and co-led subsequent rounds up to its IPO in 2017. The firm maintained a 16% stake in G1 until the biotech and its FDA-approved bone marrow damage drug, Cosela, were acquired by Pharmacosmos in 2024.

Industry Context and Market Trends

The announcement from Hatteras comes amid a period of significant fundraising activity in the life sciences venture capital space. Despite warnings of a "challenging market," other prominent firms have also secured substantial commitments:

• OrbiMed raised $1.86 billion for its fifth fund earlier this month.
• Frazier Life Sciences drew in $1.3 billion for its 12th venture fund, focusing on private, early-stage biotechs.

These fundraising successes suggest continued investor confidence in the potential of early-stage life sciences companies, despite broader economic uncertainties.