We are a holding and investment company

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation, one of the world’s largest philanthropic enterprise foundations.

Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novozymes A/S, and manages an investment portfolio with a long-term return perspective.

In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seeds, Venture, Growth and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.

As of year-end 2022, Novo Holdings had total assets of EUR 108 billion.

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Kasim Kutay

“We recognise that the health of people and the health of our planet are intricately intertwined, and we are determined to play our part in securing a more sustainable future.”

Kasim Kutay

CEO, Novo Holdings


To improve people’s health and the sustainability of society and the planet, by generating attractive long-term returns on the assets of the Novo Nordisk Foundation


To be a leading responsible investor, recognised for delivering strong financial returns and positive societal impact


Bioindustrial Investments

Together with the Novo Nordisk Foundation, Novo Holdings has embarked on a journey to make biotechnology a spearhead for the green transition of society. Our ambition is to invest in promising discoveries that can be translated into applicable biosolutions. With our bioindustrial investments we strive to not only generate attractive financial returns, but also to have a positive impact on society.


Responsible Investments at Novo Holdings

We aspire to be catalysts for change by investing in companies that – like us – believe that we have a responsibility to alleviate the pressing challenges facing humanity and planetary health.

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The Novo Holdings Way

At Novo Holdings, we aspire to a set of values that define the way we work. Our values underpin the Novo Holdings culture of high performance with respect and responsibility.


We strive to deliver outstanding long-term results.

Vision, collaboration and diversity are key to our performance.


We conduct ourselves with integrity and transparency.

We build long-term relationships based on trust and respect.


Sustainability is integral to our business.

Learning is core to our organisation.

Board of Directors

The Board of Directors is comprised of nine members, each with a long and proven track record in asset management or the life sciences.

Advisory Group

The Novo Advisory Group is an expert panel that supports Novo Holdings in analysing its larger life science investments.

Leadership team

The Executive Leadership Team together with the Life Sciences and Capital Investments Operating Committees oversee all Novo Holdings operations and investments.

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Latest news and reports

Key figures


Currently invested in the life science sector


Life science investments since 1999


Total 10-year average return on the Investment Portfolio

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Novo Group and Investment Portfolio

Total Assets under Management (AuM) FY22 €108 billion – breakdown:

The Novo Nordisk Foundation

Striving to improve the health and welfare of people

The Novo Nordisk Foundation awards grants for research, humanitarian and social purposes. The history of the Foundation dates back to 1922, when Professor and Nobel Laureate August Krogh and his wife, Marie, took a trip to North America and succeeded in acquiring the necessary knowledge and permission to manufacture insulin in Scandinavia. In return, August Krogh promised that profit from the sale of insulin would be returned to society as support for scientific and humanitarian purposes.

The production of insulin marked the beginning of the development of world-class diabetes medicine and a subsequent Danish business and export venture. It also led to the establishment of several foundations that, many years later, merged into today’s Novo Nordisk Foundation.

In 2022, the Foundation awarded a total of DKK 7.5 billion (€1 billion) in grants, a decrease from DKK 8.8 billion (€1.15 billion) the previous year. Its payouts rose from DKK 4.8 billion (€650 millions) in 2021 to DKK 5.2 billion (€700 million) in 2022.

Visit the Novo Nordisk Foundation