Royalty Pharma Sub-Manager, LLC
Royalty Pharma Sub-Manager, LLC is a Series C+ and other fund in global investing in Healthcare, healthcare-tech and pharma.
- Stages
- Series C+, other
- Sectors
- Healthcare, healthcare-tech, pharma
- Invests in
- global
- Round role
- Leads rounds
- Actively investing
- Yes
- Founded
- 1996
- Assets under management
- $19.6B
- Website
- royaltypharma.com
Check size not disclosed
Thesis
Royalty Pharma Sub-Manager, LLC (RPSM) is an SEC-registered investment adviser specializing in acquiring royalty interests in biopharmaceutical products. Their strategy focuses on generating long-duration cash flows from approved drugs and late-stage development candidates, including marketed-product royalties, late-stage development funding (Phase 3 or NDA-ready assets), and synthetic royalties for near-commercial candidates. While they may fund pre-revenue companies, these deals are structured with capped returns and milestone-based payments to mitigate risk. RPSM operates globally, collaborating with various entities and acting as a lead investor in its royalty acquisitions. The firm reported AUM of $17.6 billion as of June 15, 2025, with other filings indicating up to $19.6 billion managed in 2025. The parent company, Royalty Pharma plc, has deployed over $25 billion since its founding in 1996. RPSM is a subsidiary of Royalty Pharma Manager, LLC, which is a subsidiary of Royalty Pharma plc.
Common questions
Does Royalty Pharma Sub-Manager, LLC invest at the Series C+ stage?
Yes. Royalty Pharma Sub-Manager, LLC lists Series C+ and other among the stages it invests in.
Where does Royalty Pharma Sub-Manager, LLC invest?
Royalty Pharma Sub-Manager, LLC invests in global.