Flexible capital solutions for innovative, commercial-stage healthcare companies

RA Capital’s Structured Capital team provides customized, flexible financing solutions for commercial-stage, innovative healthcare and life sciences companies. These solutions include senior secured loans, convertible notes, synthetic royalties, preferred equity, and hybrid capital structures.

Our dedicated Structured Capital team complements RA Capital’s equity investing by supporting companies that have brought products or services to market and are seeking growth capital for:

• Commercialization support
• Acquisition financing
• Pipeline acceleration
• Balance sheet optimization

Think of Structured Capital investments as credit-oriented investments in innovative, revenue-generating companies.

RA Capital Structured Capital team pursues a distinct strategy with its own investment criteria and dedicated resources. However, their strategy benefits from RA Capital’s:

• Historical knowledge of companies we’ve backed and routinely follow
• TechAtlas competitive maps and therapeutic intelligence
• Deep scientific and commercial expertise
• Relationships across the healthcare ecosystem

Where RA Capital already holds equity in a company, our Structured Capital team may also invest if the company meets our criteria. At times, we may offer a combined structured and equity solution when that best supports the company’s objectives.

This makes RA Capital a comprehensive multi-stage healthcare investor – we can support companies from inception through commercialization with the most appropriate form of capital at each stage.

RA Capital’s Structured Capital leverages the deep scientific, clinical, and commercial expertise of RA Capital, as well as our long-standing relationships across the healthcare ecosystem. This allows us to:

• Underwrite opportunities with speed and conviction
• Structure solutions aligned to long-term value creation
• Support management teams beyond capital with strategic guidance

Unlike pure credit funds that view healthcare as just another sector, we understand the science, the regulatory pathways, the competitive dynamics, and the value drivers. This expertise translates into smarter deal structuring and more constructive partnerships.

Yes. We invest across every sector of healthcare and life sciences, including:

• Biopharma (therapeutics development)
• Medical devices
• Diagnostics
• Healthcare IT
• Pharma services
• Healthcare services

Our broad sector coverage and deep domain expertise allow us to evaluate opportunities across the entire healthcare value chain.

Our typical investment size ranges from $25 – $250 million, with the ability to go larger or smaller in certain situations depending on the opportunity and the company’s needs.

Yes. We invest in both public and private companies across healthcare and life sciences. The key criteria is that companies are commercial-stage (revenue-generating) and the capital will be used to drive growth.

Board rights are considered on a case-by-case basis and reserved for situations where we believe we can add meaningful value. Board participation tends to be more relevant when we have equity or equity-like exposure.

For pure credit investments, board seats are less common. For hybrid structures with equity components, board participation may make more sense.

Companies or advisors can reach us at request@​racap.​com with a brief overview of:

• The business and what you do
• Commercial progress (revenue, growth trajectory, key products/​services)
• Current capital structure and existing investors/​lenders

RA Capital’s Structured Capital team will respond and engage if there’s potential alignment.