# Patient Square Capital: portfolio, investments and team > Patient Square Capital is a private equity based in United States. 2 investments on record, latest Jan 2024. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/patient-square-capital (Millionrounds; every figure on the page links to its filing or article) United States · [Investor](https://millionrounds.com/investors) # Patient Square Capital Last cheque observed Jan 2024. Silence since then is not evidence of inactivity: our sources miss unannounced rounds. Quiet Private equity Seed Series A Series B Medtech Med Device Health Cheques on record **0%** of best year **0** **cheques in 12 months**, 2 on record Since the last cheque **1022** days **00** hrs **00** min **00** sec Median round **$200M** Rounds led **2 of 2** Pitch Patient Square Capital ## Patient Square Capital highlights - 01 2 rounds on record - 02 Mostly Series A and Series C: 100% of its rounds - 03 Led 2 rounds ## What they do > Patient Square Capital is a dedicated health care investment firm with $19 billion in assets under management. From their own website - **Type:** Private equity (from a list, unverified) - **Cheque size:** Not stated - **Stages:** Seed Series A Series B Growth - **Sectors:** Medtech Med Device Health - **Based in:** Menlo Park, United States - **Cold pitches:** Not accepted ## The record Every round we can evidence, newest first **2 appearances** - **2024** 1 round - **Jan** **[Apollo Therapeutics](https://millionrounds.com/company/apollo-therapeutics)** Series C · GB · UCL Technology Fund **$260M** *Led* - **2021** 1 round - **Jun** **[Apollo Therapeutics](https://millionrounds.com/company/apollo-therapeutics)** Series A · GB · UCL Technology Fund **$140M** *Led* 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 **4 named** AM **Adam Mark Fliss** General Counsel and Founding Partner i Form ADV CJ **Carolyn Joy Drayer-Greenwalt** Chief Compliance Officer i Form ADV JC **James Cameron Momtazee** Managing Partner i Form ADV MM **Matthew Michael Whelan** Chief Financial Officer and Partner i Form ADV We also hold **8** 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 **$18B** assets it manages Oct 2026 **Registered** investment adviser full reporting to the SEC - **Legal name:** Patient Square Capital, LP - **SEC number:** CRD 312203 Funds on its Form ADV **20** private funds, **$7.9B** in gross assets · filed Mar 2024 - Patient Square Equity Partners, L.P. *Private equity* 86 investors $2.4B - Patient Square Equity Partners-A, L.P. *Private equity* 30 investors $2.3B - PSC Stanley Coinvest, L.P. *Private equity* 12 investors $568M - Blackwell Capital Partners, L.P. *Private equity* 2 investors $409M - PSC EP Discretionary Coinvest III, L.P. *Private equity* 3 investors $385M - PSC Sperry Coinvest L.P. *Private equity* 2 investors $264M - PSC EP Discretionary Coinvest II, L.P. *Private equity* 1 investor $234M - PSC EP Discretionary Coinvest, L.P. *Private equity* 2 investors $206M - PSC HERO Coinvest, L.P. *Private equity* 2 investors $200M - PSC KR Coinvest, L.P. *Private equity* 4 investors $178M And 10 more on the filing. Who backs their funds ## 1 LP on record in Patient Square Capital's funds - **Committed:** $2.1B - **Funds:** 2 - **Vintages:** 2023 The institutions that put money into its funds, which the firm then invests in companies. Source: the pension's own report, latest Mar 2026. - [**California Public Employees' Retirement System (CalPERS)** 2 funds *$2.1B*](https://millionrounds.com/fund/california-public-employees) Fund Vintage Committed Blackwell Capital Partners 2023 $1.8B Patient Square Equity Partners 2023 $300M ## The cheque Seed Series A Series B Median round joined **$200M** the round, not its cheque Led 2 of 2 rounds **100%** - **Sole investor:** Never alone - **Last cheque:** Jan 2024 Rounds by stage said on their site - Series A said *1* - Series C *1* - Seed said *-* - Series B said *-* - Growth said *-* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [Rock Springs Capital](https://millionrounds.com/fund/rock-springs-capital) 2 **Pitching Patient Square Capital?** 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 Patient Square Capital. A count of rooms they were both in, not a relationship either has claimed. [**Rock Springs Capital** Hedge fund **2** rounds together](https://millionrounds.com/fund/rock-springs-capital) ## Recently backed The latest companies Patient Square Capital put money into. [**Apollo Therapeutics** $260M · Jan 2024](https://millionrounds.com/company/apollo-therapeutics) ## Quick answers about Patient Square Capital ### What does Patient Square Capital invest in? Patient Square Capital invests most often at Series A and Series C (100% of the rounds on record), in sectors such as Medtech, Med Device and Health. ### How active is Patient Square Capital? 2 investments on record, 0 of them in the last 12 months, and it led 2. The most recent was in Jan 2024. ### What has Patient Square Capital invested in recently? Its most recent investments on record: Apollo Therapeutics (Series C, Jan 2024). ### How big are Patient Square Capital's cheques? The median round it joins is $200M. ### Is Patient Square Capital investing now? No investments in the last 12 months; the latest was in Jan 2024. ### Who does Patient Square Capital invest alongside? Most often Rock Springs Capital (2 rounds together). ### What kind of investor is Patient Square Capital? Patient Square Capital is a private equity firm based in Menlo Park, United States. ### How much does Patient Square Capital manage? About $18B, as regulatory assets under management (Oct 2026). ## 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. 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