CRG
VC Fund
Houston, United States
CRG is a market pioneer and innovator in healthcare investing that focuses on intellectual property investments in FDA-approved biopharmaceutical assets through royalty bonds, structured debt, revenue interests, and traditional royalty monetizations. The company targets investments between $20 and $200 million and works directly with leadinghealthcare companies, research institutions, and inventors to provide customized financing structures to meet their unique needs.Its financings are an attractive alternative to costly equity financings and restrictive debt financings. CRG helps healthcare organizations fund pipeline development, make acquisitions, and expand into new markets—all with an adaptable source of capital.Capital Royalty strives to help biopharma companies access capital that has little to no dilution. While much of the capital that we invest allows our counterparties to fund innovative research and development products, our primary source of collateral is derived from commercialized products. As the only investment team with experience in structuring royalty bonds, structured debt, and traditional royalty monetizations, Capital Royalty is uniquely qualified to meet a broad range of financing needs for healthcare companies.CRG provides superior risk-adjusted returns to our investors by offering the most attractive financing alternatives to our business partners. Its investors include pension funds, insurance companies, family offices, university endowments, foundations, financial institutions, and other institutional investors.
- Total investments:
- 64
- Last investment:
- Lead investor:
- 28%
- Last fund:
Last updated:
For AI agents: llms.txt
Industries CRG invests in
Stages CRG invests in
Countries CRG invests in
Contacts
| Name | Phone | Socials | |
|---|---|---|---|
Luke Duster
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Michael R. Kramer
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Scott Li
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Adam Whitehead
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Charles Tate
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| See all 9 contacts → | |||
Investment Focus
Industry
- Health Care 48 (75%)
- Biotechnology 30 (47%)
- Medical 22 (34%)
- Medical Device 21 (33%)
- Pharmaceutical 12 (19%)
Stage
- Debt Financing 28 (44%)
- Post-IPO Debt 12 (19%)
- Funding Round 5 (8%)
- Private Equity 5 (8%)
- Post-IPO Equity 4 (6%)
Country
- United States 46 (72%)
- Canada 4 (6%)
- Ireland 1 (2%)
- New Zealand 1 (2%)
Team
| Name | Title | Investments | Links | |
|---|---|---|---|---|
|
Luke Duster
Managing Director
|
Managing Director | Total investments: 11 | Find email | |
|
Michael R. Kramer
Operating Partner
|
Operating Partner | Total investments: 2 | Find email | |
|
Scott Li
Managing Director
|
Managing Director | Total investments: 3 | Find email | |
|
Adam Whitehead
VP of Investor Relations
|
VP of Investor Relations | Total investments: 0 | Find email | |
|
Charles Tate
Founder & Chairman
|
Founder & Chairman | Total investments: 0 | Find email | |
| See all 9 team members → | ||||
Investments
| Company | Description | Round | Links |
|---|---|---|---|
Calyxo
|
Calyxo, Inc. is an innovation-driven medical device company focused on improving care for patients with kidney stones, a common and painful condition that consumes vast amounts of healthcare resources today. Founded in 2016, Calyxo is led by executives and investors with a strong track record of commercializing paradigm-shifting solutions in thefield of urology. Our team features some of the most talented, high-achieving and brightest minds in the medical device industry who are compelled by a desire to make a difference in kidney stone care. We are proud of our collaborative, diverse, fun and dynamic culture. | $40M / Series F / Apr 14, 2026 | |
Zing Health
|
Zing Health Holdings, Inc. is a tech-enabled insurance company making Medicare Advantage the best it can be for those 65-and-over. Zing Health has a community-based approach that recognizes the importance of the social determinants of health in keeping individuals and communities healthy. Zing Health aims to return the physician and the member tothe center of the health care equation. Members receive individualized assistance to make their transition to Zing Health as easy as possible. Zing Health offers members the ability to personalize their plans, access to facilities designed to help them better meet their healthcare needs and a dedicated care team. | $140M / Private Equity / Sep 25, 2024 | |
T2 Biosystems
|
T2 Biosystems is a private company developing a next-generation medical diagnostic platform that enables rapid and accurate diagnostic tests of all types on a single, easy-to-use instrument. The company's proprietary technology combines nanotechnology and miniaturized magnetic resonance (MR) technology and eliminates the need for costly andtime-consuming sample preparation. | $15M / Post-IPO Equity / Feb 15, 2024 | |
|
Calyxo
|
Calyxo, Inc. is an innovation-driven medical device company focused on improving care for patients with kidney stones, a common and painful condition that consumes vast amounts of healthcare resources today. Founded in 2016, Calyxo is led by executives and investors with a strong track record of commercializing paradigm-shifting solutions in thefield of urology. Our team features some of the most talented, high-achieving and brightest minds in the medical device industry who are compelled by a desire to make a difference in kidney stone care. We are proud of our collaborative, diverse, fun and dynamic culture. | $32.7M / Series C / Jul 06, 2022 | |
NavaDerm
|
NavaDerm Partners is a dermatology management platform founded by five dermatology practices in New York and New Jersey. It aims to support its outstanding 40+ board-certified dermatologists and their dedicated staffs in providing outstanding patient care from eight locations. Clinicians at NavaDerm provide world-class general dermatology servicesthat include medical, surgical, and cosmetic procedures. | $30M / Debt Financing / May 25, 2021 | |
Treace Medical Concepts
|
Treace Medical Concepts operates as a privately-funded, commercial-stage company focused on bringing breakthrough technologies to the high-growth $1.1 billion US market for foot and ankle surgical products. The company's mission is to assist foot and ankle physicians in improving patient outcomes and reducing healthcare costs while providing arewarding experience for ITS employees and an exceptional return for its shareholders. | $50M / Debt Financing / Aug 04, 2020 | |
|
Treace Medical Concepts
|
Treace Medical Concepts operates as a privately-funded, commercial-stage company focused on bringing breakthrough technologies to the high-growth $1.1 billion US market for foot and ankle surgical products. The company's mission is to assist foot and ankle physicians in improving patient outcomes and reducing healthcare costs while providing arewarding experience for ITS employees and an exceptional return for its shareholders. | $50M / Debt Financing / Aug 04, 2020 | |
Harmony Biosciences
|
Harmony Biosciences is a pharmaceutical company headquartered in Plymouth Meeting, PA. The company was established in October 2017 with a vision to develop and commercialize innovative therapies for people living with rare neurological disorders who have unmet medical needs. | $200M / Debt Financing / Mar 13, 2019 | |
Mid-Atlantic Dental Partners
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Mid-Atlantic Dental Partners is a growing regional dental support organization (DSO) founded on the principle that high quality dental care requires a three-way partnership between the patient, the dentist and their support organization. An effective DSO must enable the dental team to focus all their attention on their patients while takingresponsibility for all of the practices’ non-clinical activities. These services include billing, collections, scheduling, clinical data analytics, group purchasing, marketing and assisting each practice in recruiting dental professionals. Mid-Atlantic Dental Partners is also committed to assuring each dentist clinical autonomy while improving the lifestyle of its dental partners and their staffs. | $70M / Jan 16, 2019 | |
HNI Healthcare
|
HNI Healthcare (formerly Hospitalists Now) is a technology-enabled physician practice management company focused on the delivery of full-service facility-based physician programs to improve the quality of patient care. The Company’s physicians, processes and technologies enable healthcare facilities to improve key quality and performance metricsthrough a more clinically integrated care model. | $65M / Private Equity / Nov 28, 2018 | |
| See all 64 investments → | |||
Co-Investors
The Vertical Group
3 deals together
Advanced Technology Ventures
2 deals together
Aisling Capital
2 deals together
Canaan Partners
2 deals together
Chicago Growth Partners
2 deals together
Cochlear
2 deals together
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FAQ
What does CRG invest in?
CRG invests primarily in Health Care, Biotechnology and Medical startups, most often at Debt Financing and Post-IPO Debt stage. Most of the 64 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.
How do I contact CRG?
Public channels for CRG include LinkedIn and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.
Who are the partners at CRG?
The team at CRG includes Luke Duster (Managing Director), Michael R. Kramer (Operating Partner) and Scott Li (Managing Director), among 9 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.
Is Shizune's investor data accurate?
Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.
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