Former UnitedHealth Group CEO Sir Andrew Witty has been named chairman of Hatteras Venture Partners, a venture capital firm focused on healthcare innovation, investing across biopharmaceuticals, medical devices and health technology.
Mr. Witty is returning to Hatteras, where he served as a venture partner from 2017 to 2019, according to a Sept. 30 news release from the company.
He stepped down as CEO of UnitedHealth Group in May 2025 for personal reasons. Chairman and former CEO Stephen Hemsley replaced him. Mr. Witty had led UnitedHealth since 2021. Before becoming UnitedHealth’s CEO, Mr. Witty led the company’s Optum arm starting in 2018 and served as UnitedHealth Group president beginning in November 2019. He was CEO of GlaxoSmithKline from 2008 to 2017.
“Hatteras has always paired scientific ambition with discernment and a practical understanding of how enduring healthcare companies are built,” Mr. Witty said in the release. “I am pleased to return and help the team extend that approach at an important moment for the firm and the healthcare industry.”
Alongside the appointment, Hatteras held the first closing of Hatteras Opportunity Fund II, which targets $100 million for follow-on investments in portfolio companies nearing clinical, regulatory and commercial milestones. The closing brings the firm**’s capital under management to more than $1 billion.
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