Hatteras Venture Partners will use about 20% of an estimated $100-150 million of its fourth fund to invest in 10 to 15 companies, MedCity News reports. The early stage portion of the next fund, Hatteras Discovery, will invest between $20 million to $30 million in areas, including oncology, orphan disorders and focused therapeutics areas.

Hatteras Discovery could either be funded by Hatteras IV or taken to strategic partners. The firm, which currently has $120 million asset under management, is still making investments from its third fund, an $83 million fund launched in 2007.

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