About Patient Square Capital
Patient Square Capital is a venture capital firm founded in 2020. It is primarily based out of Menlo Park, United States. As of Jul 2025, Patient Square Capital has invested in 5 companies. It primarily invests in Series B round in United States based startups. Its investments are spread across a wide range of sectors from Life Sciences to High Tech and Healthcare. Most recently it participated in the $***** Series D round of Kriya Therapeutics A lot of funds co-invest with Patient Square Capital, with names like Elevage Medical Technologies sharing a substantial percentage of its portfolio. Patient Square Capital has team of 70 people including 14 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series B, Series C & 1 more
Portfolio Soonicorns
Deals in last 12 months
Patient Square Capital's List of All Investments
Patient Square Capital has a portfolio of 5 companies. Their most notable investments are in Kriya Therapeutics and Kriya Therapeutics.Their portfolio spans across United Kingdom and United States. They have invested in Life Sciences, High Tech, Healthcare, across Series B, Series C and 1 more. Here is the list of all investments by Patient Square Capital:1. Nuclera
Provider of rapid protein expression and screening systems for biotechnology labs. It helps life science researchers rapidly prototype, screen, and optimize protein expression. The system uses cell-free synthesis, digital microfluidics, and automated workflows to deliver reliable protein access in days rather than months, supporting research, characterization, and scale-up in biotech and pharma labs.
Key facts about Nuclera
- Founded Year: 2013
- Location: Cambridge (United Kingdom)
- Annual Revenue: £1.27M as on Dec 31, 2024
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $176M
- Employee Count: 132 as on Mar 31, 2026
- Investors: Puhua Capital, Verve Ventures and 33 Others
- Latest Funding Round: Series C, Dec 02, 2025, $*****
- Highlight: Editors' Pick
Developer of therapeutic solutions for the treatment of diabetes. The company has developed AAV-based gene therapies for the treatment of type 1 and type 2 diabetes. Its drug candidate KT-A112 contains insulin and glucokinase proteins that help in treating Type 1 & Type 2 diabetes mellitus. It also provides KT-A522 with glucagon-like peptide (GLP-1) receptor agonist for the treatment of Type 2 diabetes, KT-A832 insulin growth factor that helps in treating diabetes mellitus.
Key facts about Kriya Therapeutics
- Founded Year: 2012
- Location: Redwood City (United States)
- Stage: Series D
- Total Funding till date: $938M
- Employee Count: 4 as on Mar 31, 2026
- Investors: CAM Capital, Foresite Capital and 16 Others
- Latest Funding Round: Series D, Jul 31, 2025, $*****
- Highlight: Editors' Pick
Developer of therapeutic programs based on biological and medical research. The company's product pipeline include APL-9796: A first-in-class anti-ZIP12 monoclonal antibody for pulmonary hypertension, APL-045 and APL-10456, targeting neoplasms, immune disorders, and metabolic conditions via small molecules and antibodies.
Key facts about Apollo Therapeutics
- Founded Year: 2020
- Location: Cambridge (United Kingdom)
- Annual Revenue: £6.08M as on Dec 31, 2024
- Stage: Series C
- Total Funding till date: $372M
- Employee Count: 63 as on Mar 31, 2026
- Investors: Reimagined Ventures, M&G and 3 Others
- Latest Funding Round: Series C, Sep 06, 2023, $*****
- Highlight: Editors' Pick
Key facts about Resolve Biosciences
- Founded Year: 2020
- Location: San Jose (United States)
- Stage: Series B
- Total Funding till date: $95M
- Employee Count: 69 as on Mar 31, 2026
- Investors: NRW.Bank, EDBI and 6 Others
- Latest Funding Round: Series B, Oct 25, 2022, $*****
- Highlight: Editors' Pick
Key facts about Enavate Sciences
- Founded Year: 2022
- Location: United States
- Stage: Series D
- Total Funding till date: $300M
- Employee Count: 11 as on Mar 31, 2026
- Investors: Patient Square Capital
- Latest Funding Round: Series D, May 02, 2022, $*****
Patient Square Capital's Year-on-Year Investment Trends
Patient Square Capital has invested in 12 companies over the last 5 years, with an average of 1 new investment annually in the last 5 years. In 2025, it made 1 investment. Its most recent first time investment was in Nuclera and most recent follow-on round was in Kriya Therapeutics.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 1 | 1 |
2024 | 1 | 0 | 1 |
2023 | 0 | 1 | 1 |
2022 | 2 | 1 | 3 |
2021 | 2 | 0 | 2 |
Patient Square Capital's Investments by Stage
Patient Square Capital has made 2 investments in Series B stage with an average round size of $85.5M, 2 investments in Series C stage with an average round size of $110M and 1 investment in Series D stage with an average round size of $300M.Stage of entry | No. of Investments |
|---|---|
Series B | 2 |
Series C | 2 |
Series D | 1 |
Note: We have considered here, only first round of investments
Patient Square Capital's Investments by Sector
Patient Square Capital has a diverse portfolio, with companies operating in the Life Sciences, Healthcare and High Tech. Notably, it has invested in 3 Enterprise (B2B) companies, 3 Tech companies and 1 Tech hardware company.Sector | No. of Investments |
|---|---|
Life Sciences | 3 |
Healthcare | 1 |
High Tech | 1 |
Note: We have considered here, only first round of investments
Patient Square Capital's Investments by Geography
Patient Square Capital has made most investments in United States (3), followed by United Kingdom where it has made 2 investments.Country | No. of Investments |
|---|---|
United States | 3 |
United Kingdom | 2 |
Note: We have considered here, only first round of investments
Patient Square Capital's recent investments
Patient Square Capital has not made any investment in 2026 so far.Here are the most recent investments by Patient Square Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jul 31, 2025 | United States | Series D | 1253 | [+3] | |
Oct 16, 2024 | United Kingdom | Series C | 5246 | ||
Sep 06, 2023 | United Kingdom | Series C | 8965 | [+1] | |
Oct 25, 2022 | United States | Series B | 8823 | [+3] | |
May 10, 2022 | United States | Series C | 7797 | [+8] |
Team profile of Patient Square Capital
Patient Square Capital has a team of 70 members including 14 Partners and 20 Principals located in United States. Patient Square Capital's team does not sit on the board of any company as of now.Here is a list of top team members in Patient Square Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | New York City | - | ||
Partner | San Francisco | - | ||
Partner | Menlo Park | - | ||
Partner | Menlo Park | - | ||
Partner | New York City | - | ||
Partner | Menlo Park | - | ||
Partner | New York City | - | ||
Partner | Los Angeles | - | ||
Partner | New York City | - | ||
Partner | New York City | - | ||
Partner | New York City | - |
Co-investors of Patient Square Capital
Over the past 5 years, 43 investors have co-invested in Patient Square Capital's portfolio companies. This includes funds and angels.
- Invested before Patient Square Capital: Jonathan Milner, Amadeus Capital and 20 others have invested in rounds before Patient Square Capital. There is 1 company where Jonathan Milner has invested before Patient Square Capital and 1 company where Amadeus Capital has invested before Patient Square Capital.
- Top Co-investors of Patient Square Capital: 14 investors entered a company along with Patient Square Capital. These include investors like Elevage Medical Technologies (1 company).
- Invested after Patient Square Capital: A total of 7 investors have invested in Patient Square Capital's portfolio after their investments. Top Investors include Elevage Medical Technologies (1 company), British Business Bank (1 company) and T1D Fund (1 company).
Recent News related to Patient Square Capital
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Timothy P. Walbert Joins Patient Square Capital as a Senior AdvisorBusiness Wire•May 06, 2026•Patient Square Capital
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Nervonik Announces $52.5M Series B FinancingMassinvestor•Apr 28, 2026•Nervonik, Amzak Health, Foothill Ventures, Lumira Ventures and 5 others
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Imperative Care Raises $100M in FundingFinSMEs•Mar 18, 2026•Patient Square Capital, Imperative Care, Bain Capital Life Sciences, Perceptive Advisors and 7 others
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Patient Square Capital LP Acquires Shares of 100,000 Celcuity, Inc. $CELCMarketBeat•Feb 23, 2026•Patient Square Capital, Celcuity
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75,000 Shares in uniQure N.V. $QURE Acquired by Patient Square Capital LPMarketBeat•Feb 23, 2026•Patient Square Capital, UniQure
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Paradigm Signs Definitive Agreement to Be Acquired by PatientThe Joplin Globe•Feb 13, 2026•Patient Square Capital, Paradigm, Paradigm
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