Hatteras Venture Partners has completed the first closing of its fourth fund with $74 million in subscriptions. The final set target for the Hatteras Venture Partners IV (HVP IV) is $125 million.

The new fund also permits the formal launch of the previously announced Hatteras Discovery, which will focus on seed investments. Hatteras will allocate up to 20% of the HVP IV to start stage projects and companies.

Click here for the release from Business Wire.