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CRG

North America, Texas, United States, Houston

Description

CRG, headquartered in Houston, United States, stands as a prominent and pioneering investment firm dedicated exclusively to the healthcare sector. Since its inception, CRG has carved out a unique niche by providing innovative growth capital solutions, primarily to commercial-stage biopharmaceutical and medical device companies. Their approach distinguishes them from traditional venture capital or private equity firms, focusing on structured finance that leverages the intellectual property and revenue streams of established healthcare assets. This strategy allows companies to access significant capital without the substantial equity dilution often associated with conventional funding rounds, making CRG a crucial partner for firms looking to scale their operations and commercialize their products.

The firm's core investment strategy revolves around offering senior secured loans and royalty financings. This method is particularly appealing to companies with approved products or those nearing commercialization, as it provides flexible, non-dilutive, or minimally dilutive capital. CRG's expertise lies in evaluating the underlying value of intellectual property, clinical data, and commercial potential, enabling them to structure bespoke financing solutions that align with a company's specific growth trajectory and capital needs. Their deep understanding of the regulatory landscape and market dynamics within healthcare further solidifies their position as a strategic financial partner.

Over the years, CRG has demonstrated a significant commitment to the healthcare industry, having deployed over $4.5 billion in capital since 2003. This substantial investment has supported more than 95 healthcare companies, facilitating the development and commercialization of numerous life-changing therapies and medical technologies. CRG typically invests between $20 million and $200 million in a single transaction, reflecting their capacity to support a wide range of capital requirements for growth-oriented healthcare enterprises. Their consistent focus on intellectual property-backed assets and commercial-stage companies underscores their role in accelerating innovation and market penetration within the global healthcare ecosystem.

Investor Profile

CRG has backed more than 61 startups, with 1 new investments in the last 12 months alone. The firm has led 18 rounds, about 30% of its total and boasts 36 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Debt Financing, Post Ipo Debt, Series Unknown rounds (top funding stages).
  • Majority of deals are located in United States, Canada, Ireland.
  • Strong thematic focus on Health Care, Biotechnology, Medical.
  • Led 1 rounds in the past year.
  • Typical check size: $20M – $200M.

Stage Focus

  • Debt Financing (48%)
  • Post Ipo Debt (20%)
  • Series Unknown (8%)
  • Private Equity (8%)
  • Post Ipo Equity (7%)
  • Series C (5%)
  • Series I (2%)
  • Series D (2%)
  • Convertible Note (2%)

Country Focus

  • United States (89%)
  • Canada (7%)
  • Ireland (3%)
  • New Zealand (2%)

Industry Focus

  • Health Care
  • Biotechnology
  • Medical
  • Medical Device
  • Health Diagnostics
  • Pharmaceutical
  • Manufacturing
  • Genetics
  • Life Science
  • Therapeutics
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does CRG frequently co-invest with?

Canaan Partners
North America, California, United States, Menlo Park
Co-Investments: 2
Cochlear
Oceania, New South Wales, Australia, Sydney
Co-Investments: 2
Radius Ventures
North America, New York, United States, New York
Co-Investments: 2
Chicago Growth Partners
North America, Illinois, United States, Chicago
Co-Investments: 2
Warburg Pincus
Europe, Madrid, Spain, Boadilla Del Monte
Co-Investments: 3
Lightstone Ventures
North America, California, United States, Menlo Park
Co-Investments: 2
SightLine Partners
North America, Minnesota, United States, Minneapolis
Co-Investments: 2
Advanced Technology Ventures
North America, California, United States, Menlo Park
Co-Investments: 2
Aisling Capital
North America, New York, United States, New York
Co-Investments: 2
The Vertical Group
North America, New Jersey, United States, Basking Ridge
Co-Investments: 3

What are some of recent deals done by CRG?

Zing Health

Chicago, Illinois, United States

Zing Health offers Medicare advantage plans that enhances healthcare access and include supplemental benefits.

Health CareHealth InsuranceInsuranceInsurTech
Private EquitySep 25, 2024
Amount Raised: $140,000,000
T2 Biosystems

Lexington, Massachusetts, United States

T2 Biosystems is a biotechnology company that develops diagnostic products for rapid and accurate detection of various diseases.

BiotechnologyHealth CareHealth DiagnosticsMedical
Post Ipo EquityFeb 15, 2024
Amount Raised: $15,000,000
Calyxo

Pleasanton, California, United States

Calyxo, Inc. is an innovation-driven medical device company focused on improving care for patients with kidney stones.

Health CareMedicalMedical DeviceWellness
Series CJul 6, 2022
Amount Raised: $32,700,000
NavaDerm

Millburn, New Jersey, United States

NavaDerm is a Northeast-based dermatology services organization in New York and New Jersey.

BeautyHealth CareManagement ConsultingMedical
Debt FinancingMay 25, 2021
Amount Raised: $30,000,000
Treace Medical Concepts

Ponte Vedra Beach, Florida, United States

Treace Medical Concepts is a privately-funded development stage company that specializes in foot and ankle surgical products.

Health CareMedicalMedical Device
Debt FinancingAug 4, 2020
Amount Raised: $50,000,000
Aerin Medical

Sunnyvale, California, United States

Aerin Medical is a health technology company that develops therapeutic devices to improve nasal breathing.

BiotechnologyHealth CareMedical Device
Debt FinancingMay 21, 2019
Amount Raised: $50,000,000
Harmony Biosciences

Plymouth Meeting, Pennsylvania, United States

Harmony Biosciences is a pharmaceutical company that develops and commercializes novel therapies for rare neurological disorders.

BiopharmaBiotechnologyHealth Care
Debt FinancingMar 13, 2019
Amount Raised: $200,000,000
EyePoint Pharmaceuticals

Watertown, Massachusetts, United States

EyePoint Pharmaceuticals specializes in the development and commercialization of ophthalmic products for the treatment of eye diseases.

BiotechnologyHealth CareMedicalPharmaceutical
Debt FinancingFeb 13, 2019
Amount Raised: $60,000,000
Mid-Atlantic Dental Partners

Plymouth Meeting, Pennsylvania, United States

Mid-Atlantic Dental Partners is a growing regional dental support organization

Health CareWellness
Series UnknownJan 16, 2019
Amount Raised: $70,000,000
HNI Healthcare

Austin, Texas, United States

HNI Healthcare provides a range of services for hospitals to improve their clinical and operational outcomes.

Health CareHospitalMedical
Private EquityNov 28, 2018
Amount Raised: $65,000,000