Paul Royalty Fund II

Paul Royalty Fund II is a specialized private equity fund managed by Paul Capital Healthcare, a pioneer in the healthcare royalty monetization market. Established in 2006 with $650 million in capital commitments, the fund was designed to acquire royalty interests in pharmaceutical, biotechnology, and medical device products that were either already commercialized or in late-stage development. By providing non-dilutive capital to life science companies and research institutions, the fund enabled the monetization of future cash flows from significant healthcare assets. Notable investments within the fund's portfolio have historically included royalty streams for major therapies such as Tysabri for multiple sclerosis and Ranexa for chronic angina. The fund represents a key vehicle in the history of royalty finance before the management firm, Paul Capital, ceased new investment activities in the mid-2010s.