HEALTHCARE ROYALTY MANAGEMENT, LLC
HEALTHCARE ROYALTY MANAGEMENT, LLC is a Series C+ and debt fund in the US, Europe and Global writing $10M–$150M checks into Healthcare, biopharma, pharmaceuticals, biotechnology, specialty-pharmaceuticals, oncology, neurology and rare-diseases.
- Stages
- Series C+, debt
- Sectors
- Healthcare, biopharma, pharmaceuticals, biotechnology, specialty-pharmaceuticals, oncology, neurology, rare-diseases
- Check size
- $10M–$150M
- Invests in
- US-wide, Europe, Global
- Actively investing
- Yes
- Founded
- 2006
- Assets under management
- $3.78B
Thesis
HealthCare Royalty Management, LLC (HCRM), operating as HealthCare Royalty Partners (HCRx), is a prominent investment firm founded in 2006, specializing in acquiring and managing royalty streams from biopharmaceutical products. As of December 31, 2025, HCRM reported approximately $3.78 billion in regulatory assets under management (AUM). The firm's investment strategy centers on acquiring royalties and utilizing debt-like structures to invest in commercial or near-commercial stage healthcare assets, targeting those with significant clinical value and strong barriers to entry for consistent, predictable cash flows and attractive yields. Their investments span the pharmaceutical, biotechnology, and specialty pharmaceutical sectors, with a focus on therapeutics addressing unmet medical needs in areas like oncology, neurology, and rare diseases. HCRx provides capital through customized debt, royalty monetization, and revenue participation financings, operating globally with offices in North America, Europe, and select high-growth regions. The firm has raised multiple funds, including Fund IV at $1.8 billion in 2019. HCRM operates as an SEC-registered limited liability company and is a private equity fund advisor to institutional clients, identifying as an active ESG investor.
Common questions
Does HEALTHCARE ROYALTY MANAGEMENT, LLC invest at the Series C+ stage?
Yes. HEALTHCARE ROYALTY MANAGEMENT, LLC lists Series C+ and debt among the stages it invests in.
What check size does HEALTHCARE ROYALTY MANAGEMENT, LLC write?
HEALTHCARE ROYALTY MANAGEMENT, LLC writes $10M–$150M checks.
Where does HEALTHCARE ROYALTY MANAGEMENT, LLC invest?
HEALTHCARE ROYALTY MANAGEMENT, LLC invests in the US, Europe and Global.