What Soleus Capital does

Soleus Capital is a Greenwich, Connecticut-based healthcare-focused investment firm founded in 2018 that invests across the healthcare lifecycle in biotech, medtech, diagnostics, and genomics, targeting both developmental-stage and commercial-stage companies. The firm operates a multi-fund platform spanning public funds, three private equity vintages (PE Funds I, II, III), a Credit Opportunities Fund, and special purpose vehicles, with limited-partner access gated through the Matrix and AltaReturn institutional investor portals.

The firm generates revenue through capital gains, dividends, and investment income from long/short equity positions in life sciences and biopharma issuers, supplemented by participation in structured royalty financings such as the amended Heidelberg Pharma / HealthCare Royalty arrangement tied to Telix Pharmaceuticals' TLX250-Px. Go-to-market is enterprise field sales: Soleus sources deals through direct relationships with healthcare management teams and co-investor syndicates, executing private placements, PIPEs, follow-on offerings, and underwritten offerings alongside placement agents and joint book-runners including Goldman Sachs, Evercore ISI, and Citizens Capital Markets.

Recent activity (October 2025 through May 2026) includes leading a $30 million oversubscribed PIPE for Aprea Therapeutics, participating in Parabilis Medicines' $305 million Series F, Adlai Nortye's $150 million placement, Prelude Therapeutics' $90 million offering, Quoin Pharmaceuticals' up-to-$104.5 million private placement, and Heidelberg Pharma's $20 million-plus-$25 million royalty transaction, alongside a disclosed ~$63.40 million Vericel public-equity position. Pricing, fee schedules, AUM, and revenue are not publicly disclosed, and the firm files SEC portfolio disclosures consistent with operation as an SEC-registered investment adviser.

Name

Soleus Capital

Legal name

Soleus Capital

Website

https://soleuscapital.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Soleus Capital is a Greenwich, Connecticut-based healthcare-focused investment firm that deploys capital across biotech, medtech, diagnostics, and genomics via a multi-fund platform (public funds, three PE vintages, a credit fund, and SPVs), executing private placements, PIPEs, and structured financings alongside tier-one healthcare syndicates.

Ownership category

akta.pro rank

Product category

Healthcare Private Equity / Life Sciences Investment Management

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

SME Term Loans & Growth Capital (FSAKAGAB)

Keywords

• Healthcare private equity
• Life sciences investing
• Biotech investment funds
• PIPE financings
• Royalty financing

Headquarters

HQ city

Greenwich

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Investment returns / hedge fund performance: Generates returns through long/short equity positions in life sciences and biopharma companies, with reported monthly performance (e.g., -4.9% in January 2026). Revenue consists of capital gains, dividends, and other investment income from portfolio holdings.
2. Royalty financing income: Provides structured capital against future royalty streams (e.g., USD 20 million upfront plus a future USD 25 million milestone tied to FDA approval of TLX250-Px via Heidelberg Pharma arrangement), earning through royalty monetization rights.
3. Fund management fees: Operates multiple fund vehicles (Public Funds, Private Equity Fund III, Credit Opportunities Fund I, Private Equity Fund I/II/SPVs) accessed via investor portals, generating typical asset management fees and/or performance fees.

Go-to-market motion1 record

Distribution channels2 records

Core offering

Soleus Capital is a healthcare-focused investment firm that manages a multi-fund platform spanning the entire healthcare lifecycle, from developmental-stage through commercial-stage companies. It invests across biotech, medtech, diagnostics, and genomics via private equity funds, a public fund, a credit opportunities fund, and special purpose vehicles, executing strategies such as PIPEs, private placements, public-equity long/short positions, and structured royalty financings.

Product overview

Soleus Capital is a healthcare investment firm that operates a multi-fund platform spanning the healthcare lifecycle, from development-stage companies through commercial companies. Its offering is organized as a platform-plus-modules architecture comprising two investor-portal-hosted suites: a Matrix-hosted suite covering the Public Funds, Private Equity Fund III, and Credit Opportunities Fund I, and an Altar Return-hosted suite covering Private Equity Fund I, Private Equity Fund II, and SPV vehicles. The firm invests across biotech, medtech, diagnostics, and genomics.

Differentiator

Problem solved

Functional benefit

Products and services

• Public Funds

Quantifiable outcome

• Led an oversubscribed $30 million private placement for Aprea Therapeutics (May 2026)
• +6 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• RA Capital Management: Healthcare-dedicated crossover fund investing across public and private biotech via PIPEs, private placements, and follow-ons. Co-invested with Soleus in Parabilis ($305M Series F), Prelude ($90M offering), and Adlai Nortye, making it a directly comparable sponsor in the same niche.
• Perceptive Advisors: Healthcare-focused investment manager running life-sciences hedge and private credit strategies with biotech PIPE and private placement activity. Co-invested with Soleus in Adlai Nortye's $150M placement and reported alongside Soleus in monthly biopharma hedge fund performance rankings.
• Cormorant Asset Management: Healthcare-dedicated long/short and private equity manager investing across biotech and medtech stages. Co-invested with Soleus in the Parabilis Series F and Adlai Nortye placement, operating with a similarly lean team and crossover structure.
• RTW Investments: Healthcare/biotech-focused investment firm running public and private strategies, including PIPEs and venture-style investments in clinical-stage companies. Reported alongside Soleus in monthly biopharma hedge fund performance rankings, making it a direct peer in mandate and structure.
• Frazier Life Sciences: Healthcare-dedicated venture and public equity manager focused on biopharma across development stages. Co-invested with Soleus in Parabilis' $305M Series F and operates with a comparable pure-play life sciences thesis.
• venBio Partners: Biotech-focused venture and crossover investor participating in private placements and PIPEs across clinical-stage therapeutics. Co-invested with Soleus in Parabilis' Series F, sharing the dedicated healthcare/life sciences mandate.
• AIGH Capital Management: Healthcare-focused investment manager actively participating in biotech PIPE and private placement financings. Co-invested with Soleus in Quoin Pharmaceuticals' $104.5M placement, operating with a similar crossover mandate.

Broad incumbents

• OrbiMed Advisors: One of the largest dedicated healthcare investment firms globally, operating venture, growth, credit, and public equity strategies across biotech, medtech, and diagnostics. Broad incumbent that shares Soleus's vertical focus but operates at significantly larger AUM scale and broader strategy mix.
• Baker Bros. Advisors: Healthcare-focused long/short equity and venture manager with deep biotech specialization and large AUM. A broad incumbent peer that competes for the same PIPE and private placement opportunities as Soleus but at substantially larger scale.
• ARCH Venture Partners: Pioneering healthcare/tech venture firm co-leading large crossover rounds including Parabilis' $305M Series F alongside Soleus. A broad incumbent that competes for similar early- and growth-stage life sciences opportunities but with a venture-primary rather than crossover/PIPE model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments94 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Soleus Capital