Hatteras is First to Tap New SBA Loan Program, Raises $125M Fund
January 14, 2013
Hatteras Venture Partners became the first venture capital firm to take advantage of the federal government's new Early Stage Innovation Initiative loan program when it closed on $125 million for its new fund with SBIC-backed loans. The Durham, NC-based VC firm invests mainly in Healthcare and medical startups in the southeastern region of the United States. Hatteras had raised $88 million from private investors before being granted the remaining $37 million from the Small Business Administration. President Obama announced the creation of the $1 billion Early Stage Innovation Initiative in December 2011 as a way for the federal government to encourage job creation.