Hatteras Investment Partners, an advisory firm co-founded by Mark Yusko, is raising $500m (€355.8m) for a private placement fund of funds, joining the growing investment in late-stage venture capital.

Hatteras Investment Partners declined to comment on the fund except to say it is independent of Yusko's hedge fund firm Morgan Creek Capital Management. The fund's goal is $500m, according to Private Equity Newswire. Hatteras was co-founded by David Perkins and Yusko in 2003 to help investors access alternatives.