Paul Capital Royalty Fund

Paul Capital was a prominent private equity firm that pioneered the healthcare royalty financing market through its dedicated royalty funds. The firm provided non-dilutive capital to pharmaceutical companies, biotechnology firms, and academic institutions by purchasing interests in future royalty streams of approved or late-stage healthcare products. At its peak, Paul Capital Healthcare managed several billion dollars across multiple funds, investing in royalties for blockbuster drugs in oncology, ophthalmology, and infectious diseases. The firm eventually ceased raising new capital in the mid-2010s and transitioned into a harvest mode for its existing portfolio.