BioVenture VoiCes with Chris Garabedian Episode 28: Hatteras Venture Partners' Clay Thorp
Nov 10, 2025
Clay Thorp, co-founder of Hatteras Venture Partners with over 25 years in life-science investing, shares his journey from co-founding a genomics startup with his brother to shaping North Carolina's biotech scene. He emphasizes the importance of hands-on operating experience for aspiring VCs. Clay also discusses the successful seed investment in the cancer drug Palbociclib and the significance of partnerships with academic founders. He highlights Hatteras's focus on oncology and women's health, revealing ambitious goals for future funds amid a challenging fundraising landscape.
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From Brother’s Lab To Corporate Development
- Clay Thorp co-founded a genomics startup with his brother despite having a math and art history background.
- He then joined Novalon as head of corporate development and learned the ropes by doing deals and traveling extensively.
Hatteras Began As A Tiny Seed Fund
- After Novalon's sale Clay used his liquidity to co-found a small fund with John Crumpler called Catalyst Adventures (Hatteras One).
- Their first fund was $2.93M drawn from 28 LPs and local supporters like Cooper Hill Partners.
NC’s Strength Is Mid-Level Biotech Talent
- North Carolina excels at the mid-level talent pool: clinical, regulatory, and manufacturing.
- That specialization makes the region a global hub for bioprocess and CRO-related work.
