# Rock Springs Capital: portfolio, investments and team > Rock Springs Capital is a hedge fund based in United States. 36 investments on record, 1 in the last 12 months, latest Jun 2026. Source: https://millionrounds.com/fund/rock-springs-capital (Millionrounds; every figure on the page links to its filing or article) United States · [Investor](https://millionrounds.com/investors) # Rock Springs Capital Last cheque observed Jun 2026; 36 cheques on record. Email Deploying now New fund $1.1B, Jan 2026 Hedge fund Growth Seed Series A Healthcare Follow Rock Springs Capital and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Frock-springs-capital) Deploying now **50%** of best year **1** **cheques in 12 months**, 36 on record Since the last cheque **144** days **00** hrs **00** min **00** sec Median round **$102M** Rounds led **0 of 36** Exits **1 from the portfolio** Mostly in **United States, 78%** Pitch Rock Springs Capital ## Rock Springs Capital highlights - 01 1 cheques in the last 12 months - 02 Mostly Series B and Series C: 74% of its rounds - 03 1 exits from the portfolio ## What they do > Rock Springs Capital is a specialist healthcare investment firm managing $1.8B across two strategies. From their own website - **Type:** Hedge fund (from a list, unverified) - **Cheque size:** Not stated - **Stages:** Growth Seed Series A - **Sectors:** Healthcare - **Based in:** Baltimore, United States - **Cold pitches:** Not accepted ## The record Every round we can evidence, newest first **36 appearances** - **2026** 1 round - **Jun** **[City Therapeutics](https://millionrounds.com/company/city-therapeutics)** Series B · US · Ventureburn **$100M** With 8 others - **2024** 2 rounds - **May** **[Zenas BioPharma](https://millionrounds.com/company/zenas-biopharma)** Series C · US · Tellus BioVentures **$200M** With 14 others - **Jan** **[Apollo Therapeutics](https://millionrounds.com/company/apollo-therapeutics)** Series C · GB · UCL Technology Fund **$260M** With 2 others - **2023** 1 round - **Feb** **[Hemab Therapeutics](https://millionrounds.com/company/hemab-therapeutics)** Series B · DK · Firms' own news pages **$135M** With 8 others - **2021** 2 rounds - **Aug** **[Vigil Neuroscience](https://millionrounds.com/company/vigil-neuroscience)** Series B · US · Hatteras Venture Partners **$90M** With 12 others - **Jun** **[Apollo Therapeutics](https://millionrounds.com/company/apollo-therapeutics)** Series A · GB · UCL Technology Fund **$140M** With 3 others - **2020** 1 round - **Mar** **[Kymera Therapeutics](https://millionrounds.com/company/kymera-therapeutics)** Series C · US · Hatteras Venture Partners **$102M** With 7 others - **2019** 1 round - **Dec** **[Imperative Care](https://millionrounds.com/company/imperative-care)** Series C · US · FinSMEs **$85M** With 5 others - **2016** 1 round - **Jun** **[Vedanta Biosciences](https://millionrounds.com/company/vedanta-biosciences)** US · Xconomy **$50M** With 2 others - **2015** 15 rounds - **Dec** **[Clearside Biomedical](https://millionrounds.com/company/clearside-biomedical)** Series C · US **$20M** With 3 others - **Nov** **[ObsEva](https://millionrounds.com/company/obseva)** Series B · CH **$60M** With 4 others - **Oct** **[Audentes Therapeutics](https://millionrounds.com/company/audentes-therapeutics)** Series C · US **$65M** With 11 others - **Sept** **[Aclaris Therapeutics](https://millionrounds.com/company/aclaris-therapeutics)** Series C · US **$40M** With 8 others - **Sept** **[Proteostasis Therapeutics](https://millionrounds.com/company/proteostasis-therapeutics)** Series B · US **$37M** With 7 others - **Sept** **[AveXis](https://millionrounds.com/company/avexis)** Series D · US **$65M** With 11 others - **Jul** **[Ra Pharmaceuticals](https://millionrounds.com/company/ra-pharmaceuticals)** Series B · US **$59M** With 8 others - **Jun** **[Clementia Pharmaceuticals](https://millionrounds.com/company/clementia-pharmaceuticals)** Series B · CA **$60M** With 6 others - **May** **[BeiGene](https://millionrounds.com/company/beigene)** Series B · CN **$97M** With 3 others - **May** **[Adaptive Biotechnologies](https://millionrounds.com/company/adaptive-biotechnologies)** Series F · US **$195M** With 3 others - **Apr** **[Merus](https://millionrounds.com/company/merus)** Series C · NL **$79M** With 10 others - **Apr** **[Dimension Therapeutics](https://millionrounds.com/company/dimension-therapeutics)** Series B · US **$65M** With 7 others - **Mar** **[Collegium Pharmaceutical](https://millionrounds.com/company/collegium-pharmaceutical)** Venture · US **$50M** With 10 others - **Mar** **[Mersana Therapeutics](https://millionrounds.com/company/mersana-therapeutics)** Series B · US **$35M** With 4 others - **Feb** **[Cidara Therapeutics](https://millionrounds.com/company/cidara-therapeutics)** Series B · US **$42M** With 9 others - **2014** 10 rounds - **Dec** **[3-V Biosciences](https://millionrounds.com/company/3-v-biosciences)** Series D · US **$29M** With 3 others - **Dec** **[Ascendis Pharma](https://millionrounds.com/company/ascendis-pharma)** Series D · US **$60M** With 5 others - **Nov** **[Nivalis Therapeutics](https://millionrounds.com/company/nivalis-therapeutics)** Series B · US **$30M** With 4 others - **Oct** **[Invitae](https://millionrounds.com/company/invitae)** Series F · US **$120M** With 13 others - **Sept** **[Adaptimmune](https://millionrounds.com/company/adaptimmune)** Series A · GB **$104M** With 12 others - **Aug** **[Civitas Therapeutics](https://millionrounds.com/company/civitas-therapeutics)** Series C · US **$55M** With 11 others - **Aug** **[Dermira](https://millionrounds.com/company/dermira)** Series C · US **$51M** With 7 others - **May** **[Spark Therapeutics](https://millionrounds.com/company/spark-therapeutics)** Series B · US **$73M** With 5 others - **May** **[Coherus Biosciences](https://millionrounds.com/company/coherus-biosciences)** Series C · US **$55M** With 9 others - **Apr** **[Avalanche Biotech](https://millionrounds.com/company/avalanche-biotech)** Series B · US **$55M** With 5 others - **2013** 1 round - **Nov** **[TriVascular](https://millionrounds.com/company/trivascular)** Series E · US · sec.gov **$40M** With 8 others - **2012** 1 round - **Nov** **[Mirna Therapeutics](https://millionrounds.com/company/mirna-therapeutics)** Series D · US · sec.gov **$17M** With 10 others 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 **5 named** AH **Aidan Hugh O'Connor** Chief Compliance Officer and General Counsel i Form ADV GM **Gordon Margraf ("mark") Bussard** Member/Limited Partner i Form ADV GM **Graham Margraff (Mark) McPhail** Member/Limited Partner i Form ADV KH **Kris Harlan Jenner** Member/Limited Partner i Form ADV NC **Nnamdi C Etoh** Chief Financial Officer i Form ADV We also hold **12** 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 **$2.4B** assets it manages Oct 2026 **Registered** investment adviser full reporting to the SEC - **Legal name:** ROCK Springs Capital Management LP - **SEC number:** CRD 168648 Funds on its Form ADV **2** private funds, **$5.8B** in gross assets · filed Mar 2024 - Rock Springs Capital Master Fund L.P. *Hedge* 635 investors $5.5B - FOUR Pines Master Fund L.P. *Hedge* 25 investors $264M ## Exits from the portfolio Companies it backed that were later bought or listed **1 in all** **[Civitas Therapeutics](https://millionrounds.com/company/civitas-therapeutics)** Bought by Acorda Therapeutics **$525M** Sept 2014 An exit counts when it came after the firm's first round in the company. From historical deal records. New fund on file **$1.1B** raised in Jan 2026 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Growth Seed Series A Median round joined **$102M** the round, not its cheque Led 0 of 36 rounds **0%** - **Sole investor:** Never alone - **Last cheque:** Jun 2026 - **Exits:** 1 from the portfolio Rounds by stage said on their site - Series B *14* - Series C *11* - Series D *4* - Series A said *2* - Series F *2* - Venture *1* - Growth said *-* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [RA Capital Management](https://millionrounds.com/fund/ra-capital-management) 13 - [New Enterprise Associates](https://millionrounds.com/fund/new-enterprise-associates) 11 - [OrbiMed](https://millionrounds.com/fund/orbimed) 9 - [Sofinnova Investments](https://millionrounds.com/fund/sofinnova-investments) 9 - [Wellington Management](https://millionrounds.com/fund/wellington-management) 7 - [Deerfield](https://millionrounds.com/fund/deerfield) 6 **Pitching Rock Springs 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 Rock Springs Capital. A count of rooms they were both in, not a relationship either has claimed. [**RA Capital Management** Private equity **13** rounds together](https://millionrounds.com/fund/ra-capital-management)[**New Enterprise Associates** VC firm **11** rounds together](https://millionrounds.com/fund/new-enterprise-associates)[**OrbiMed** Private equity **9** rounds together](https://millionrounds.com/fund/orbimed)[**Sofinnova Investments** VC firm **9** rounds together](https://millionrounds.com/fund/sofinnova-investments)[**Wellington Management** VC firm **7** rounds together](https://millionrounds.com/fund/wellington-management)[**Deerfield** VC firm **6** rounds together](https://millionrounds.com/fund/deerfield)[**F-Prime Capital** VC firm **6** rounds together](https://millionrounds.com/fund/f-prime)[**Cormorant Asset Management** Private equity **5** rounds together](https://millionrounds.com/fund/cormorant-asset-management)[**Redmile Group** VC firm **5** rounds together](https://millionrounds.com/fund/redmile-group)[**Venrock** VC firm **5** rounds together](https://millionrounds.com/fund/venrock)[**Adage Capital Management** Asset manager **4** rounds together](https://millionrounds.com/fund/adage-capital-management)[**Sabby Capital** Private equity **4** rounds together](https://millionrounds.com/fund/sabby-capital) ## Recently backed The latest companies Rock Springs Capital put money into. [**Zenas BioPharma** $200M · May 2024](https://millionrounds.com/company/zenas-biopharma)[**Apollo Therapeutics** $260M · Jan 2024](https://millionrounds.com/company/apollo-therapeutics)[**Kymera Therapeutics** $102M · Mar 2020](https://millionrounds.com/company/kymera-therapeutics)[**Imperative Care** $85M · Dec 2019](https://millionrounds.com/company/imperative-care)[**Vedanta Biosciences** $50M · Jun 2016](https://millionrounds.com/company/vedanta-biosciences) ## Quick answers about Rock Springs Capital ### What does Rock Springs Capital invest in? Rock Springs Capital invests most often at Series B and Series C (74% of the rounds on record), in sectors such as Healthcare. ### How active is Rock Springs Capital? 36 investments on record, 1 of them in the last 12 months. The most recent was in Jun 2026. ### What has Rock Springs Capital invested in recently? Its most recent investments on record: City Therapeutics (Series B, Jun 2026), Zenas BioPharma (Series C, May 2024) and Apollo Therapeutics (Series C, Jan 2024). ### How big are Rock Springs Capital's cheques? The median round it joins is $102M. ### Does Rock Springs Capital lead rounds? Rarely, if at all: none of its 36 investments on record names it as the lead. ### Where does Rock Springs Capital invest? Most of the companies it backs are in the United States (78%) and the United Kingdom (8%). ### Is Rock Springs Capital investing now? Yes: it is actively investing, with 1 investments in the last 12 months. ### Who does Rock Springs Capital invest alongside? Most often RA Capital Management (13 rounds together), New Enterprise Associates (11 rounds together) and OrbiMed (9 rounds together). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. 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