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Last Updated: 14 November 2020

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Venture capital firm Hatteras Venture Partners raised 94 million for its sixth fund, HVP VI, with plans to hit 200 million for investments in life science startups. Hatteras should reach its 200 million goal by year end, Clay Thorp, VC firm co-founder and general partner, told Karma Network on April 15. The firm, based within Research Triangle in Durham, North Carolina, plans to use funds to make seed-and early-stage investments in companies developing new drugs, medical devices, health technologies and diagnostics. Triangle, home to numerous tech companies and enterprises, is anchored by three major schools: North Carolina State University, Duke University and University of North Carolina at Chapel Hill and the cities of Durham and Raleigh. Hatteras Venture gives preference to firms in the Southeast because funding in that region is substantially less available than in Silicon Valley, Boston and New York. Thorp see a widespread tendency to seed companies, which Hatteras begin doing in 2011. Now, he add, that practice is prevalent in California and Massachusetts, too. The second trend is growth in digital Health, also called disruptive technology, attempt to make healthcare more efficient and cheaper. Thorp say challenge for Southeast is to attract talented CEOs who know what theyre doing. We have some, but not enough, whereas Massachusetts and Silicon Valley have many. Among CEOs in Southeast are Sapan Shah of StrideBio and Mark Velleca of G1 Therapeutics, add Thorp. Hatteras invest in both companies. 19-year-old Hatteras Venture Partners has 550 million in assets under management. Other earlier investments include Durham company NeuroTronik, Elligo Health Research of Austin, Texas, and GrayBug Vision, of Redwood City, California. Michelle Lodge is a New York-base writer whose work has appeared in Time, Fortune, Barrons, Miami Herald, British Medical Journal as well as on cnbc.

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