Catalio Capital Management has closed its second structured credit vehicle. It raised over $325 million for the Catalio Structured Opportunities Fund II and related co-investment vehicles. This fund exceeded its original target, showing strong investor interest in non-dilutive capital solutions. Many healthcare companies face a tough fundraising climate.
As equity markets stay selective, healthcare innovators seek financing that supports growth without heavy dilution. Catalio launched its Structured Opportunities strategy in late 2021 to address this need. It offers flexible, credit-focused capital tailored for companies at key commercialization stages. The strategy complements Catalio’s broader multi-strategy healthcare platform, which invests across the full lifecycle of innovation.
“We greatly appreciate the commitment of our investors, many of whom have supported our vision from day one,” said John Henry Iucker, Founding Partner and Head of Credit at Catalio. “The Catalio Structured Opportunities Fund provides innovative healthcare companies with flexible capital at a critical stage of their growth and commercial execution. We’re using what Catalio is known for – a multi-strategy platform led by industry experts – to address capital scarcity and bring life changing healthcare innovations to market.”
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The Structured Opportunities platform targets commercial-stage healthcare companies with strong scientific foundations and clear revenue or cash flow drivers. Investments range from senior secured debt to structured equity, allowing Catalio to design customized financing solutions aligned with each company’s operational and strategic needs. To date, the strategy has completed 21 investments, reflecting sustained demand for credit-based alternatives to traditional equity financing.
Fund II has already backed several notable transactions. Catalio led Leo Cancer Care’s $40 million financing round with a $20 million credit investment to support the commercialization of upright proton and photon radiotherapy systems, designed to improve patient comfort and treatment precision. The fund also committed $20 million in credit to Amalgam Rx to help scale its medical-grade AI solutions, including FDA-cleared prescription digital therapeutics focused on medication adherence.
With its oversubscribed close, Fund II reinforces Catalio’s position as a key provider of structured capital helping healthcare innovators advance critical technologies while preserving long-term equity value.
