# NovaQuest Capital Management

NovaQuest Capital Management is an Asset Manager based in Raleigh, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Raleigh, United States
- **Region:** North America
- **Address:** Raleigh, NC, United States
- **Founded:** 2010
- **Assets under management:** Undisclosed
- **Website:** www.novaquest.com
- **LinkedIn:** https://www.linkedin.com/company/novaquest-capital-management-l.l.c

## Regulatory record

- **CRD number:** 160359
- **SEC file number:** 801-73992
- **Registration status:** APPROVED
- **Latest Form ADV filing:** 2026-03-31T05:00:00.000Z
- **Reports private funds:** Yes
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/160359

## About

NovaQuest Capital Management is an SEC-registered investment adviser in Raleigh, NC, registered since 2012. The firm manages approximately $1.5 billion in regulatory assets. It has 18 employees and 18 investment advisers.

## Sectors

- Biopharmaceuticals
- Animal Health
- Healthcare Services

## People

- Patrick Jordan — Managing Partner
- Michael Bologna — Partner and Chief Investment Officer
- Brian Axe — Partner
- Robert Hester — Partner and Chief Financial Officer
- Ryan Wooten — Managing Director

## Questions

### Who runs investment decisions at NovaQuest?

Michael Bologna, Partner and Chief Investment Officer, leads investment decisions alongside Managing Partner Patrick Jordan and Partners Brian Axe, Robert Hester, and Ryan Wooten. Bologna and Jordan both date to the firm's pre-spinout era at Quintiles Transnational, where NovaQuest operated as an internal strategic investment group before becoming independent in 2010.

### What is NovaQuest's Product Finance structure?

Product Finance is a late-stage, non-dilutive funding structure where NovaQuest provides capital to biopharmaceutical companies in exchange for a synthetic royalty or revenue interest on a specific approved or near-approval drug asset. The firm commits milestone-linked capital during the final development, regulatory, or early-commercial window. Because the structure avoids equity dilution, it appeals to biotech companies that want to retain upside on their platform while accessing growth capital for a lead asset.

### How is NovaQuest related to IQVIA?

NovaQuest was formed in 2000 as the strategic investment arm of Quintiles Transnational, the contract-research organization that later became IQVIA. In 2010, the investment team spun out as an independent firm, NovaQuest Capital Management, taking its biopharma-product-financing model with it. The firm no longer has a formal capital or governance tie to IQVIA, though the shared heritage informs NovaQuest's deal-sourcing network and therapeutic-area expertise.

### Does NovaQuest participate in fund commitments or only direct deals?

NovaQuest runs proprietary pooled funds — Product Finance funds and a Private Equity fund — and deploys capital directly into negotiated biopharma royalty transactions, private equity platform investments, and co-investments. The firm does not operate as a fund-of-funds. Institutional limited partners commit to its blind-pool vehicles, and NovaQuest's investment team originates, underwrites, and manages each position directly.

## Related profiles

- [Novamind Ventures](https://altss.com/profile/novamind-ventures)
- [Novare Capital Management](https://altss.com/profile/novare-capital-management)

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Last updated: 2026-06-03T20:00:00.000Z

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