Fund Purpose

The Healthcare Innovation Venture Fund (HIVF) invests in early-stage healthcare companies developing technologies that improve patient outcomes, operational efficiency, and financial performance for its hospital limited partners: WakeMed Health & Hospitals and Baptist Health System, Inc., Kentucky & Southern Indiana.

HIVF combines Hatteras’ venture discipline with the clinical insight and operational expertise of its hospital LPs to support companies creating transformative solutions in medical devices, diagnostics, digital health, patient care, and patient experience. This partnership enables companies to access clinical and administrative hospital personnel, subject-matter experts, pursue pilot opportunities, conduct research, and validate their solutions in real-world settings. It also provides the opportunity for entrepreneurial involvement for the hospitals providers who are interested in innovation and research.

HIVF’s mission is to accelerate innovations that deliver measurable benefits for patients, providers, and community health systems while generating competitive, venture-style returns for its limited partners.

The fund was launched in 2020 in partnership with WakeMed Health & Hospitals under the name WakeMed Innovation Venture Fund (WIVF). WIVF was created and managed by Hatteras Venture Partners, with WakeMed serving as a strategic limited partner and Hatteras as the institutional fund manager. In May 2026, Baptist Health System, Inc., of Kentucky & Southern Indiana joined the fund as the second limited partner, and the fund was renamed the Healthcare Innovation Venture Fund (HIVF).

The fund builds on WakeMed’s and Baptist’s tradition of innovation and over twenty-five years of healthcare-focused venture investing at Hatteras.

To date, the fund has reviewed more than 350 early-stage healthcare opportunities and engaged over 150 clinicians and operators from its limited partner hospitals in evaluations, pilots, and validation activities.