Novo Holdings
Novo Holdings is the holding and investment company of the Novo Nordisk Foundation, a world-leading life science investor that controls Novo Nordisk and Novonesis and invests via Seed, Venture, Growth, Principal and Planetary Health teams alongside a broad capital-markets portfolio.
AUM
€93.0B
Funds
6
vintages 1999
Portfolio
134
Exits
8
Key facts
Recent exits
Myricx Bio
Biotech2026 · 2yr hold
Clario
HealthTech2026 · 10yr hold
Nalu Medical
MedTech2026 · 2yr hold
KabaFusion
Healthcare2026 · 4yr hold
Coverage notes
6 funds tracked, 142 portfolio companies (134 active · 8 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
142 companiesBiotech
72 · 51%
MedTech
15 · 11%
Healthcare
9 · 6%
HealthTech
9 · 6%
ClimateTech
8 · 6%
Pharma
7 · 5%
AgTech
7 · 5%
FoodTech
6 · 4%
Funds & portfolio
Every fund Novo Holdings has raised, with its portfolio companies. Hand-checked from public filings.
6 funds
Novo Holdings Seed InvestmentsVCActive1999 · 27yr21 active
Unrealized
21 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Biotech |  Denmark | 2010 | |
| Biotech | Denmark | 2021 | |
| Biotech | Denmark | 2017 | |
| Biotech |  Sweden | 2021 | |
| Healthcare |  UK | 2021 | |
| Biotech |  Germany | 2024 | |
| Biotech | Denmark | 2022 | |
| Biotech |  US | 2026 | |
| Biotech | US | 2019 | |
| Biotech | Denmark | 2023 | |
| Biotech | US | 2026 | |
| Biotech | Denmark | 2018 | |
| Biotech |  Switzerland | 2022 | |
| Biotech | Denmark | 2021 | |
| Biotech | Denmark | 2016 | |
| Biotech | Denmark | 2024 | |
| Biotech | Denmark | 2025 | |
| MedTech | Denmark | 2012 | |
| Biotech | Denmark | 2024 | |
| Deep Tech | Denmark | 2022 | |
| Pharma | US | 2022 |
Acesion PharmaActive
BiotechDenmark· Entry 2010
Denmark· Entry 2010AdcendoActive
BiotechDenmark· Entry 2021
Denmark· Entry 2021Antag TherapeuticsActive
BiotechDenmark· Entry 2017
Denmark· Entry 2017Asgard TherapeuticsActive
BiotechSweden· Entry 2021
Sweden· Entry 2021BBI GroupActive
HealthcareUK· Entry 2021
UK· Entry 2021Booster TherapeuticsActive
BiotechGermany· Entry 2024
Germany· Entry 2024Breye TherapeuticsActive
BiotechDenmark· Entry 2022
Denmark· Entry 2022cAMPfieldActive
BiotechUS· Entry 2026
US· Entry 2026Claris BioActive
BiotechUS· Entry 2019
US· Entry 2019Commit BiologicsActive
BiotechDenmark· Entry 2023
Denmark· Entry 2023Coultreon BiopharmaActive
BiotechUS· Entry 2026
US· Entry 2026Draupnir BioActive
BiotechDenmark· Entry 2018
Denmark· Entry 2018Engimmune TherapeuticsActive
BiotechSwitzerland· Entry 2022
Switzerland· Entry 2022Hemab TherapeuticsActive
BiotechDenmark· Entry 2021
Denmark· Entry 2021NMD PharmaActive
BiotechDenmark· Entry 2016
Denmark· Entry 2016Orbis MedicinesActive
BiotechDenmark· Entry 2024
Denmark· Entry 2024QuantumCellActive
BiotechDenmark· Entry 2025
Denmark· Entry 2025ReapplixActive
MedTechDenmark· Entry 2012
Denmark· Entry 2012RheumaLogicsActive
BiotechDenmark· Entry 2024
Denmark· Entry 2024Sparrow QuantumActive
Deep TechDenmark· Entry 2022
Denmark· Entry 2022The Ritedose CorporationActive
PharmaUS· Entry 2022
US· Entry 2022Novo Holdings Venture InvestmentsVCActive1999 · 27yr34 active · 4 realized
Unrealized
34 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Biotech | Switzerland | 2023 | |
| Biotech | Sweden | 2025 | |
| Biotech | US | 2021 | |
| Biotech | Switzerland | 2024 | |
| Biotech |  Belgium | 2024 | |
| Biotech | US | 2017 | |
| Biotech | US | 2026 | |
| Biotech | US | 2023 | |
| Biotech |  France | 2021 | |
| Biotech | US | 2024 | |
| Biotech | US | 2019 | |
| Biotech | US | 2025 | |
| Biotech | US | 2019 | |
| Biotech | Germany | 2016 | |
| Biotech | US | 2023 | |
| Biotech | Singapore | 2021 | |
| Biotech | US | 2022 | |
| Biotech | US | 2022 | |
| Biotech | US | 2025 | |
| Biotech | Denmark | 2014 | |
| Biotech | Denmark | 2021 | |
| Biotech | UK | 2021 | |
| Biotech |  Netherlands | 2017 | |
| Biotech | US | 2022 | |
| Biotech | US | 2024 | |
| Biotech | US | 2024 | |
| Biotech | US | 2023 | |
| Biotech | US | 2022 | |
| Biotech | US | 2022 | |
| Biotech | UK | 2024 | |
| Biotech | US | 2021 | |
| Biotech | US | 2023 | |
| Biotech | Sweden | 2021 | |
| Biotech | Switzerland | 2026 |
Alentis TherapeuticsActive
BiotechSwitzerland· Entry 2023
Switzerland· Entry 2023AnaCardioActive
BiotechSweden· Entry 2025
Sweden· Entry 2025Aristea TherapeuticsActive
BiotechUS· Entry 2021
US· Entry 2021AsceneuronActive
BiotechSwitzerland· Entry 2024
Switzerland· Entry 2024Augustine TherapeuticsActive
BiotechBelgium· Entry 2024
Belgium· Entry 2024AvalynActive
BiotechUS· Entry 2017
US· Entry 2017Claris BiotherapeuticsActive
BiotechUS· Entry 2026
US· Entry 2026Clasp TherapeuticsActive
BiotechUS· Entry 2023
US· Entry 2023Coave TherapeuticsActive
BiotechFrance· Entry 2021
France· Entry 2021Crystalys TherapeuticsActive
BiotechUS· Entry 2024
US· Entry 2024Edgewise TherapeuticsActive
BiotechUS· Entry 2019
US· Entry 2019Expedition TherapeuticsActive
BiotechUS· Entry 2025
US· Entry 2025GlycomineActive
BiotechUS· Entry 2019
US· Entry 2019HepaRegeniXActive
BiotechGermany· Entry 2016
Germany· Entry 2016Hillstar BioActive
BiotechUS· Entry 2023
US· Entry 2023HummingbirdActive
BiotechSingapore· Entry 2021
iECUREActive
BiotechUS· Entry 2022
US· Entry 2022InspirnaActive
BiotechUS· Entry 2022
US· Entry 2022KIVU BioscienceActive
BiotechUS· Entry 2025
US· Entry 2025MinervaxActive
BiotechDenmark· Entry 2014
Denmark· Entry 2014Muna TherapeuticsActive
BiotechDenmark· Entry 2021
Denmark· Entry 2021NeRRe TherapeuticsActive
BiotechUK· Entry 2021
UK· Entry 2021NorthSea TherapeuticsActive
BiotechNetherlands· Entry 2017
Netherlands· Entry 2017Nuvig TherapeuticsActive
BiotechUS· Entry 2022
US· Entry 2022Obsidian TherapeuticsActive
BiotechUS· Entry 2024
US· Entry 2024OnCusp TherapeuticsActive
BiotechUS· Entry 2024
US· Entry 2024Ray TherapeuticsActive
BiotechUS· Entry 2023
US· Entry 2023Riva TherapeuticsActive
BiotechUS· Entry 2022
US· Entry 2022Rondo TherapeuticsActive
BiotechUS· Entry 2022
US· Entry 2022Sidera BioActive
BiotechUK· Entry 2024
UK· Entry 2024Tarveda TherapeuticsActive
BiotechUS· Entry 2021
US· Entry 2021Terremoto BiosciencesActive
BiotechUS· Entry 2023
US· Entry 2023Tribune TherapeuticsActive
BiotechSweden· Entry 2021
Sweden· Entry 2021Windward Bio AGActive
BiotechSwitzerland· Entry 2026
Switzerland· Entry 2026Realized
4 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Biotech | US | 2024 | 2025 | Trade Sale | – | ||
| Biotech | US | 2023 | 2024 | Trade Sale | – | ||
| Biotech | UK | 2024 | 2026 | Trade Sale | – | ||
| Biotech | Canada | 2022 | 2024 | Trade Sale | – |
Novo Holdings Growth InvestmentsGrowthActive1999 · 27yr35 active · 2 realized
Unrealized
35 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| HealthTech | US | 2021 | |
| Biotech | US | 2024 | |
| MedTech | US | 2024 | |
| Healthcare | US | 2021 | |
| Biotech | US | 2024 | |
| MedTech | France | 2016 | |
| HealthTech | Singapore | 2021 | |
| MedTech | Singapore | 2021 | |
| Biotech | UK | 2016 | |
| MedTech |  Ireland | 2023 | |
| HealthTech | Indonesia | 2021 | |
| HealthTech | US | 2021 | |
| MedTech | US | 2022 | |
| Healthcare | US | 2022 | |
| ClimateTech | US | 2019 | |
| MedTech | China | 2022 | |
| MedTech | Israel | 2023 | |
| Biotech | US | 2023 | |
| HealthTech | India | 2022 | |
| HealthTech | India | 2024 | |
| Pharma | US | 2018 | |
| Biotech | UK | 2020 | |
| Biotech | Switzerland | 2021 | |
| HealthTech | US | 2023 | |
| Pharma | Sweden | 2010 | |
| Biotech | UK | 2021 | |
| Deep Tech | UK | 2025 | |
| MedTech | UK | 2021 | |
| AI/ML | India | 2022 | |
| MedTech | US | 2024 | |
| Biotech | China | 2023 | |
| MedTech |  Austria | 2022 | |
| Healthcare | India | 2026 | |
| FoodTech | Netherlands | 2020 | |
| Data & Analytics | US | 2021 |
AvailityActive
HealthTechUS· Entry 2021
US· Entry 2021AvenCellActive
BiotechUS· Entry 2024
US· Entry 2024Cleveland DiagnosticsActive
MedTechUS· Entry 2024
US· Entry 2024Clever Care Health PlanActive
HealthcareUS· Entry 2021
US· Entry 2021ConvergentActive
BiotechUS· Entry 2024
US· Entry 2024CorWaveActive
MedTechFrance· Entry 2016
France· Entry 2016Doctor AnywhereActive
HealthTechSingapore· Entry 2021
EscoActive
MedTechSingapore· Entry 2021
F2G LimitedActive
BiotechUK· Entry 2016
UK· Entry 2016Fire1Active
MedTechIreland· Entry 2023
Ireland· Entry 2023HalodocActive
HealthTechIndonesia· Entry 2021
HST PathwaysActive
HealthTechUS· Entry 2021
US· Entry 2021InbraceActive
MedTechUS· Entry 2022
US· Entry 2022Kate FarmsActive
HealthcareUS· Entry 2022
US· Entry 2022LanzaTechActive
ClimateTechUS· Entry 2019
US· Entry 2019LePureActive
MedTechChina· Entry 2022
Magenta MedicalActive
MedTechIsrael· Entry 2023
MapLight TherapeuticsActive
BiotechUS· Entry 2023
US· Entry 2023MedGenomeActive
HealthTechIndia· Entry 2022
Medi AssistActive
HealthTechIndia· Entry 2024
Mirum PharmaceuticalsActive
PharmaUS· Entry 2018
US· Entry 2018NodTheraActive
BiotechUK· Entry 2020
UK· Entry 2020Numab TherapeuticsActive
BiotechSwitzerland· Entry 2021
Switzerland· Entry 2021OctaveActive
HealthTechUS· Entry 2023
US· Entry 2023OrexoActive
PharmaSweden· Entry 2010
Sweden· Entry 2010BiotechUK· Entry 2021
UK· Entry 2021PhasecraftActive
Deep TechUK· Entry 2025
UK· Entry 2025QuantaActive
MedTechUK· Entry 2021
UK· Entry 2021Qure.aiActive
AI/MLIndia· Entry 2022
Route92Active
MedTechUS· Entry 2024
US· Entry 2024Sangon BiotechActive
BiotechChina· Entry 2023
Single Use SupportActive
MedTechAustria· Entry 2022
Austria· Entry 2022Surya HospitalsActive
HealthcareIndia· Entry 2026
The Protein BreweryActive
FoodTechNetherlands· Entry 2020
Netherlands· Entry 2020Verana HealthActive
Data & AnalyticsUS· Entry 2021
US· Entry 2021Realized
2 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| HealthTech | US | 2016 | 2026 | Trade Sale | – | ||
| MedTech | US | 2024 | 2026 | Trade Sale | – |
Novo Holdings Principal InvestmentsBuyoutActive1999 · 27yr18 active · 2 realized
Unrealized
18 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Healthcare | Canada | 2021 | |
| MedTech | UK | 2021 | |
| AgTech | UK | 2025 | |
| MedTech | UK | 2020 | |
| Pharma | US | 2024 | |
| Industrials | Denmark | 2019 | |
| Pharma | US | 2025 | |
| Healthcare | India | 2023 | |
| Healthcare | India | 2023 | |
| Business Services | US | 2021 | |
| Biotech | Denmark | 2000 | |
| Biotech | UK | 2019 | |
| Pharma | US | 2022 | |
| Industrials | India | 2025 | |
| MedTech | Denmark | 2014 | |
| HealthTech | US | 2026 | |
| Healthcare | US | 2019 | |
| Pharma | Denmark | 2013 |
AltasciencesActive
HealthcareCanada· Entry 2021
BBI SolutionsActive
MedTechUK· Entry 2021
UK· Entry 2021Benchmark GeneticsActive
AgTechUK· Entry 2025
UK· Entry 2025BiocompositesActive
MedTechUK· Entry 2020
UK· Entry 2020CatalentActive
PharmaUS· Entry 2024
US· Entry 2024EllabActive
IndustrialsDenmark· Entry 2019
Denmark· Entry 2019KalVista PharmaceuticalsActive
PharmaUS· Entry 2025
US· Entry 2025Manipal HospitalsActive
HealthcareIndia· Entry 2023
MedantaActive
HealthcareIndia· Entry 2023
Medical Knowledge GroupActive
Business ServicesUS· Entry 2021
US· Entry 2021NovonesisActive
BiotechDenmark· Entry 2000
Denmark· Entry 2000Oxford BiomedicaActive
BiotechUK· Entry 2019
UK· Entry 2019RitedoseActive
PharmaUS· Entry 2022
US· Entry 2022Schott PoonawallaActive
IndustrialsIndia· Entry 2025
SonionActive
MedTechDenmark· Entry 2014
Denmark· Entry 2014Tempus AIActive
HealthTechUS· Entry 2026
US· Entry 2026WCGActive
HealthcareUS· Entry 2019
US· Entry 2019Xellia PharmaceuticalsActive
PharmaDenmark· Entry 2013
Denmark· Entry 2013Realized
2 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Biotech | US | 2023 | 2025 | Trade Sale | – | ||
| Healthcare | US | 2022 | 2026 | Secondary | – |
Novo Holdings Planetary Health InvestmentsVCActive1999 · 27yr16 active
Unrealized
16 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| AgTech | India | 2024 | |
| ClimateTech | New Zealand | 2023 | |
| ClimateTech | US | 2025 | |
| ClimateTech | Netherlands | 2024 | |
| ClimateTech | Denmark | 2023 | |
| FoodTech | Denmark | 2024 | |
| Industrials | US | 2026 | |
| FoodTech | Denmark | 2024 | |
| FoodTech | UK | 2023 | |
| AgTech | Denmark | 2024 | |
| AgTech |  Norway | 2024 | |
| Deep Tech | Denmark | 2024 | |
| AgTech | US | 2025 | |
| ClimateTech | Greenland | 2025 | |
| AgTech | US | 2019 | |
| ClimateTech | UK | 2020 |
AgnextActive
AgTechIndia· Entry 2024
AquafortusActive
ClimateTechNew Zealand· Entry 2023
Blue PlanetActive
ClimateTechUS· Entry 2025
US· Entry 2025CirctecActive
ClimateTechNetherlands· Entry 2024
Netherlands· Entry 2024HPNowActive
ClimateTechDenmark· Entry 2023
Denmark· Entry 2023MATR FoodsActive
FoodTechDenmark· Entry 2024
Denmark· Entry 2024Pacific Steel GroupActive
IndustrialsUS· Entry 2026
US· Entry 2026ReducedActive
FoodTechDenmark· Entry 2024
Denmark· Entry 2024Roslin TechnologiesActive
FoodTechUK· Entry 2023
UK· Entry 2023Sejet Plant BreedingActive
AgTechDenmark· Entry 2024
Denmark· Entry 2024AgTechNorway· Entry 2024
Norway· Entry 2024SubraActive
Deep TechDenmark· Entry 2024
Denmark· Entry 2024SylvanActive
AgTechUS· Entry 2025
US· Entry 2025The Rock Flour CompanyActive
ClimateTechGreenland· Entry 2025
VestaronActive
AgTechUS· Entry 2019
US· Entry 2019ZELPActive
ClimateTechUK· Entry 2020
UK· Entry 2020Novo Holdings Bioindustrial InvestmentsBuyoutActive1999 · 27yr10 active
Unrealized
10 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Biotech | Denmark | 2021 | |
| Biotech | Germany | 2021 | |
| Biotech | Denmark | 2021 | |
| ClimateTech | US | 2019 | |
| Biotech | Denmark | 2014 | |
| FoodTech | Denmark | 2020 | |
| AgTech | US | 2022 | |
| FoodTech | Singapore | 2021 | |
| Biotech | US | 2021 | |
| Biotech | US | 2021 |
21st.BIOActive
BiotechDenmark· Entry 2021
Denmark· Entry 2021AMSilkActive
BiotechGermany· Entry 2021
Germany· Entry 2021BactolifeActive
BiotechDenmark· Entry 2021
Denmark· Entry 2021BiomasonActive
ClimateTechUS· Entry 2019
US· Entry 2019BiosyntiaActive
BiotechDenmark· Entry 2014
Denmark· Entry 2014ChromologicsActive
FoodTechDenmark· Entry 2020
Denmark· Entry 2020Elo Life SystemsActive
AgTechUS· Entry 2022
US· Entry 2022Esco AsterActive
FoodTechSingapore· Entry 2021
GenoActive
BiotechUS· Entry 2021
US· Entry 2021Zencore BiologicsActive
BiotechUS· Entry 2021
US· Entry 2021Track Novo Holdings
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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.
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Denmark·€5MGet the full picture on Novo Holdings.
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Last updated August 2026 · Sourced from public filings · Report an issue