Novo Holdings

About Novo Holdings

Novo Holdings is the world's largest enterprise-foundation evergreen healthcare investor with DKK 1,060 billion (€142 billion) of total assets as of December 2024 (Life Science Investments portfolio €18 billion), headquartered in Copenhagen with offices in London, Boston, San Francisco, Singapore, Shanghai, Mumbai. The firm was founded in 1999 as the investment vehicle of the Novo Nordisk Foundation, and operates as a foundation-backed evergreen platform wholly owned by the Novo Nordisk Foundation with a multi-decade investment horizon.

Investment thesis

Novo Holdings deploys capital through a single balance-sheet evergreen vehicle across multiple specialist teams: Seed, Venture, Growth and Principal Investments in life sciences plus diversified Capital Investments across equities, bonds, real estate, infrastructure and private equity. Sector focus spans biotech and therapeutics, medical devices, diagnostics, healthcare services and bio-sustainability and industrial bio, with geographic deployment across North America, Europe and Asia. The foundation-backed permanent capital model enables long-duration investing unconstrained by typical fund-life timing.

Recent activity

Recent realised exits include healthcare services (2026), clinical research and healthtech (2026), medical devices (2025) and biotech (2025). Recent acquisitions include Windward Bio (immunology Series, 2026), Coultreon Biopharma (Series A, 2026) and Route 92 Medical (growth, 2026). The platform continues active multi-stage deployment across the global life sciences ecosystem. Detailed buyer names and multiple data available on Pro at €29/month.