Hatteras Venture Partners Named New Leadership
The Durham firm appointed industry veterans to lead a new strategy and closed its second opportunity fund.
Updated on Sept. 30, 2026 in Healthcare
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Hatteras Venture Partners has appointed former GlaxoSmithKline CEO Andrew Witty as Chairman and former FDA Commissioner Ned Sharpless as Managing Director of its new Hatteras Discovery Innovation initiative. The firm also finalized the first closing of its Hatteras Opportunity Fund II.
Why it matters
This leadership expansion aims to build a new generation of companies while providing follow-on support for later-stage businesses within the portfolio. By leveraging deep industry expertise, the firm seeks to grow its impact in the biotechnology sector.
Hatteras Venture Partners currently holds over $1 billion in capital under management. The new Hatteras Opportunity Fund II is targeting $100 million in total capital commitments.
The players
Andrew Witty
He is the former Chief Executive Officer of GlaxoSmithKline and UnitedHealth Group.
Ned Sharpless
He is a former director of the National Cancer Institute and former Acting Commissioner of the FDA.
Hatteras Venture Partners
This Durham-based firm is a life sciences venture capital firm that previously served as the first institutional investor in G1 Therapeutics.
The details
Hatteras Discovery Innovation is modeled on a 2012 initiative that successfully seeded 11 companies, including the development of products like Cosela and Xipere. The new strategy will evaluate seed-stage discoveries to form new businesses, while the second opportunity fund will provide follow-on capital to portfolio members.
Timeline
The original Hatteras Discovery initiative launched in 2012.
Andrew Witty served as a Venture Partner at the firm from 2017 to 2019.
Hatteras announced the leadership appointments and fund closing on September 30, 2026.
Market Landscape
This strategy marks a return to the firm's foundational roots by reviving and expanding a successful incubation model. It positions the company to maintain its early-stage dominance while scaling support for later-stage ventures in the competitive life sciences sector.
The move signals increased stability and capital availability for seed-stage startups within the portfolio. Average clients or partners should anticipate a more structured pipeline for future product development and clinical innovations.
The takeaway
The return of proven leaders suggests a strategic shift toward emphasizing deep scientific experience in early-stage company formation. Entrepreneurs in the biotech space should monitor the firm's evolving criteria for seed-stage funding and follow-on investment cycles.
Further reading
For more information on sector trends, visit the Healthcare section.
More information
For more information, visit the Hatteras Venture Partners official website.
Source note: This article includes information reported by The Manila times.
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