– Malin Corporation PLC and the University of North Carolina at Chapel Hill join existing limited partners
August 24, 2015 – Durham, NC – Hatteras Venture Partners announced today the first closing of Hatteras Venture Partners V (HVP V) with more than $90 million in subscriptions towards a final fund target of $150 million. In addition, Hatteras has entered a partnership with Malin Corporation PLC to bolster the firm’s strategic partnering capacity to grow portfolio companies from the seed stage to maturity.
“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, General Partner of Hatteras Venture Partners. “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 will invest funds from HVP V with a strategy similar to HVP III and HVP IV, focusing on science and technology from leading academic centers and the active involvement of the entire Hatteras team of seasoned entrepreneurs and operators. In addition to the Hatteras team, HVP V will leverage its limited partner relationships with leading institutions such as the University of North Carolina at Chapel Hill, GSK, Malin, Laboratory Corporation of America Holdings® (LabCorp®), Alexandria Venture Investments, and other financial investors. The firm will continue to build a diversified portfolio of human health companies, ranging from biopharmaceuticals and medical devices to diagnostics and health care IT.
“This transaction enables Malin to immediately leverage the considerable expertise embedded within Hatteras and extend the company’s existing quality network in a unique and highly efficient manner,” said Malin’s Chairman John Given. “This important collaboration will give Malin broad access to early stage discovery technologies and platforms and to some of the world’s best medical universities located in North Carolina/the Southeast U.S. We are highly confident that the intersection of HVP V, the universities and Malin will lead to the unearthing and subsequent shaping of numerous life sciences opportunities in the U.S. and, we hope, Ireland and other countries.”
Similar to HVP IV, Hatteras will allocate up to 20 percent of HVP V to seed-stage projects and companies. With the closing of HVP V, Christy Shaffer, who served as Managing Director of Hatteras Discovery, has become a General Partner with the firm.
“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, 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.”
About Hatteras Venture Partners
Hatteras Venture Partners is a venture capital firm based in Research Triangle Park, NC with a focus on seed and early stage opportunities in biopharmaceuticals, medical devices, diagnostics, healthcare IT and related opportunities in human medicine. The firm has approximately $350 million under management in five venture capital funds. Hatteras is led by a seasoned team of entrepreneurs and operators and has a long and successful track record of seed and early stage investing and company formation. To learn more about Hatteras Venture Partners, please visit www.hatterasvp.com.
About Malin Corporation Plc.
Malin is an Irish incorporated public limited company. Its purpose is to create shareholder value through the selective long-term application of capital and operational expertise to private, pre-IPO, pre-trade sale operating businesses in dynamic and fast growing segments of the life sciences industry. Through its operational involvement, Malin will work with the investee companies to enable them to reach the full potential of their value proposition and to achieve commercial success. For more information visit www.malinplc.com