# NovaQuest: portfolio, investments and team > NovaQuest is a private equity based in United States. 10 investments on record, 1 in the last 12 months, latest Dec 2025. Source: https://millionrounds.com/fund/novaquest-capital-management (Millionrounds; every figure on the page links to its filing or article) United States · [Investor](https://millionrounds.com/investors) # NovaQuest Last cheque observed Dec 2025; 10 cheques on record. Email Deploying now New fund $90M, Jun 2024 Private equity Seed Series A Series B Biopharma Animal Health Follow NovaQuest and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fnovaquest-capital-management) Deploying now **50%** of best year **1** **cheques in 12 months**, 10 on record Since the last cheque **335** days **00** hrs **00** min **00** sec Median round **$35M** Rounds led **3 of 10** Sole investor **1 rounds** Exits **2 from the portfolio** Mostly in **United States, 67%** Pitch NovaQuest ## NovaQuest highlights - 01 1 cheques in the last 12 months - 02 Mostly Debt and Series A: 67% of its rounds - 03 Sole investor in 1 rounds, median $50M - 04 2 exits from the portfolio ## What they do > NovaQuest Capital Management promotes the late-stage development of life-saving drugs with its unique global platform, offering Late-stage PRODUCT FINANCE™ investments in global biopharmaceutical products. From their own website - **Type:** Private equity (from a list, unverified) - **Cheque size:** Not stated - **Stages:** Seed Series A Series B Growth - **Sectors:** Biopharma Animal Health - **Based in:** Raleigh, United States - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **10 appearances** - **2025** 2 rounds - **Dec** **[Mirna](https://millionrounds.com/company/mirna)** Series A · GB · Firms' own news pages **$3.6M** With 8 others - **Jun** **[Gallant](https://millionrounds.com/company/gallant)** Series B · US · Firms' own news pages **$18M** With 7 others - **2024** 1 round - **Jul** **[MI:RNA](https://millionrounds.com/company/mirna)** Series A · GB · Firms' own news pages **$4.0M** *Led* - **2022** 3 rounds - **Nov** **[FibroGen](https://millionrounds.com/company/fibrogen)** Debt · US · Firms' own news pages **$50M** *Led* - **May** **[TARGAN](https://millionrounds.com/company/targan)** Series C · US · Firms' own news pages **$35M** *Led* - **May** **[Phathom Pharmaceuticals](https://millionrounds.com/company/phathom-pharmaceuticals)** Debt · US · Firms' own news pages **$260M** With 2 others - **2018** 1 round - **Nov** **[Roivant Sciences](https://millionrounds.com/company/roivant-sciences)** CH · FinSMEs **$200M** With 1 other - **2013** 1 round - **Sept** **[PreCision Dermatology](https://millionrounds.com/company/precision-dermatology)** Debt · US · pehub.com **$67M** With 7 others - **2007** 2 rounds - **Nov** **[Ambit Biosciences](https://millionrounds.com/company/ambit-biosciences)** Series D · US **$49M** With 11 others - **Apr** **[Protemix](https://millionrounds.com/company/protemix)** Series A **$15M** With 1 other An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor. ## The team Named by the firm itself, on a filing, its Form ADV or its company registration **24 named** AG **Akito Gerald Umeda** Director of the GP LTD. i Filing they signed AP **Ashton Poole** Executive Officer i Filing they signed BE **Bryan Edwards Mills** Member, Chief Administrative Officer, Management Committee Member i Form ADV CG **Carl Gerald Hellman** Director of the GP LTD. i Filing they signed CG **Chris Gerald Gordon** Director of the GP LTD. i Filing they signed DW **Devin Weiss Holden** Chief Compliance Officer i Form ADV EG **Ernest Gerald Brown** Director of the sole member of the General Partner i Filing they signed FG **Fred Gerald Cohen** Director of the GP LTD. i Filing they signed GG **Gaetano Gerald Petrelli** Director of the GP LTD. i Filing they signed HE **Hidekazu E. Tanaka** Director of the GP LTD. i Filing they signed HG **Hisaharo Gerald Koga** Director of the GP LTD. i Filing they signed IG **Ikegami Gerald Manabu** Director of the GP LTD. i Filing they signed JE **Jacob E. Comer** Director of the GP LTD. i Filing they signed JG **James Gerald O'Brien** Director of the General Partner i Filing they signed JG **Jeffrey Gerald Edwards** Director of the GP LTD. i Filing they signed JG **John Gerald Bradley** Director of the sole member of the General Partner i Filing they signed JL **John L. Bradley, Jr.** Director of the sole member of the General Partner i Filing they signed JE **Johnathan E. Tunnicliffe** Director of the GP LTD. i Filing they signed JE **Jonathan E. Tunnicliffe** Director of the GP LTD. i Filing they signed MG **Manabu Gerald Ikegami** Director of the sole member of the General Partner i Filing they signed MG **Michael Gerald Bologna** Member, Chief Investment Officer, Management Committee Member i Form ADV MJ **Michael J. Sorensen** Officer of the GP LTD i Filing they signed MJ **Michael J. Sorenson** Officer of the GP LTD. i Filing they signed MG **Mitsuhiro Gerald Goto** Director of the sole member of the General Partner i Filing they signed We also hold **62** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them. ## What the register says From the firm's own filings with the SEC, which it must file accurately by law **$1.5B** assets it manages Oct 2026 **Registered** investment adviser full reporting to the SEC - **Legal name:** Novaquest Capital Management, L.L.C. - **SEC number:** CRD 160359 Funds on its Form ADV **39** private funds, **$3.2B** in gross assets · filed Oct 2024 - NovaQuest Pharma Opportunities Fund V, L.P. *Private equity* 18 investors $656M - NovaQuest Pharma Opportunities Fund V (Delaware), L.P. *Private equity* 6 investors $380M - NovaQuest Co-Investment Fund VIII, L.P. *Private equity* 51 investors $228M - NovaQuest Pharma Opportunities Fund IV, L.P. *Private equity* 36 investors $181M - NovaQuest Animal Health Opportunities Fund Aggregator, L.P. *Private equity* 2 investors $132M - NQ Project Pharaoh, L.P. *Private equity* 20 investors $130M - NovaQuest Pharma Opportunities Fund IV Aggregator, L.P. *Private equity* 2 investors $118M - NovaQuest Animal Health Opportunities Fund (Delaware), L.P. *Private equity* 1 investor $117M - NQP SPV II, L.P. *Private equity* 20 investors $95M - NovaQuest Pharma Opportunities Fund VI, L.P. *Private equity* 2 investors $88M And 29 more on the filing. ## What they claim to have backed From their own portfolio page (on their website) **6** of 29 we have independently watched raise [FibroGen](https://millionrounds.com/company/fibrogen)[Gallant](https://millionrounds.com/company/gallant)[Nevakar](https://millionrounds.com/company/nevakar)[Phathom Pharmaceuticals](https://millionrounds.com/company/phathom-pharmaceuticals)[Roivant](https://millionrounds.com/company/roivant-sciences)[Targan](https://millionrounds.com/company/targan) Aceragen Argenta California Cryobank Cerevel Covenant Dermavant Grunenthal Hansa Biopharma Hospira Lupin MI RNA Mesoblast Mileutis Mundi Pharma Mycovia Pharmaceuticals Myovant Newmediacampaigns Pfizer Revance Sanofi Sebelapharma Shionogi Takeda Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded. ## Exits from the portfolio Companies it backed that were later bought or listed **2 in all** **[Ambit Biosciences](https://millionrounds.com/company/ambit-biosciences)** Bought by [Daiichi Sankyo](https://millionrounds.com/fund/daiichi-sankyo) **$410M** Sept 2014 **[PreCision Dermatology](https://millionrounds.com/company/precision-dermatology)** Bought by Valeant Pharmaceuticals International **$500M** Feb 2014 An exit counts when it came after the firm's first round in the company. From historical deal records. New fund on file **$90M** raised in Jun 2024 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Seed Series A Series B Median round joined **$35M** the round, not its cheque Alone, median **$50M** Led 3 of 10 rounds **30%** - **Sole investor:** 1 rounds - **Last cheque:** Dec 2025 - **Exits:** 2 from the portfolio Rounds by stage said on their site - Debt *3* - Series A said *3* - Series B said *1* - Series C *1* - Series D *1* - Seed said *-* - Growth said *-* Cheques by month Led Joined Dec 2023 Nov 2026 Often in the room with - [Animal Health Angels](https://millionrounds.com/fund/animal-health-angels) 2 - [Equity Gap](https://millionrounds.com/fund/equity-gap) 2 - [Gabriel](https://millionrounds.com/fund/gabriel) 2 - [Scottish Enterprise](https://millionrounds.com/fund/scottish-enterprise) 2 - [VANE](https://millionrounds.com/fund/vane) 2 **Pitching NovaQuest?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as NovaQuest. A count of rooms they were both in, not a relationship either has claimed. [**Animal Health Angels** Angel network **2** rounds together](https://millionrounds.com/fund/animal-health-angels)[**Equity Gap** Angel network **2** rounds together](https://millionrounds.com/fund/equity-gap)[**Gabriel** VC firm **2** rounds together](https://millionrounds.com/fund/gabriel)[**Scottish Enterprise** Government **2** rounds together](https://millionrounds.com/fund/scottish-enterprise)[**VANE** Angel network **2** rounds together](https://millionrounds.com/fund/vane) ## Recently backed The latest companies NovaQuest put money into. [**Gallant** $18M · Jun 2025](https://millionrounds.com/company/gallant)[**TARGAN** $35M · May 2022](https://millionrounds.com/company/targan)[**Phathom Pharmaceuticals** $260M · May 2022](https://millionrounds.com/company/phathom-pharmaceuticals)[**Roivant Sciences** $200M · Nov 2018](https://millionrounds.com/company/roivant-sciences) ## Quick answers about NovaQuest ### What does NovaQuest invest in? NovaQuest invests most often at Debt and Series A (67% of the rounds on record), in sectors such as Biopharma and Animal Health. ### How active is NovaQuest? 10 investments on record, 1 of them in the last 12 months, and it led 3. The most recent was in Dec 2025. ### What has NovaQuest invested in recently? Its most recent investments on record: Mirna (Series A, Dec 2025), Gallant (Series B, Jun 2025) and MI:RNA (Series A, Jul 2024). ### How big are NovaQuest's cheques? The median round it joins is $35M. ### Does NovaQuest lead rounds? Yes: it led 3 of its 10 investments on record (30%). ### Where does NovaQuest invest? Most of the companies it backs are in the United States (67%), the United Kingdom (22%) and Switzerland (11%). ### Is NovaQuest investing now? Yes: it is actively investing, with 1 investments in the last 12 months. ### Who does NovaQuest invest alongside? Most often Animal Health Angels (2 rounds together), Equity Gap (2 rounds together) and Gabriel (2 rounds together). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=novaquest-capital-management) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=novaquest-capital-management)