Novo Holdings Commits €500M to New Scaleup Europe Tech Growth Fund
Key Details of Novo Holdings' Investment in Scaleup Europe Fund
Overview of the Investment
June 4 (Reuters) - Novo Holdings, which controls obesity drugmaker Novo Nordisk, on Thursday said it committed 500 million euros ($582.00 million) as a founding investor in Scaleup Europe Fund to help technology companies grow and remain anchored in Europe.
Fund Structure and Objectives
Fund Size and Focus
• The new launched fund is a pan-European growth fund, with a target size of 5 billion euros and a hard cap of 6-7 billion euros, focused on supporting companies through growth, late-stage growth and pre-IPO phases.
Investment Themes
• The fund will invest across three broad themes: digital and intelligent systems, physical systems, human and planetary health.
Founding Investors
• The fund brings together a group of European institutional and public founding investors, including the European Commission, Novo Holdings, EIFO (Export and Investment Fund of Denmark), CriteriaCaixa, Santander and Allianz, among others.
Investment Strategy and Timeline
Geographic and Stage Focus
• The fund will focus on growth and late-stage investments across Europe, with typical investment sizes of more than 100 million euros, including follow-ons, according to Novo Holdings.
Operational Timeline
• The fund is currently finalizing legal documentation and operational set-up, with first investments expected from autumn 2026.
Statements and Additional Information
Executive Commentary
• "The Scaleup Europe Fund brings together long-term capital and aligned investors to help strengthen Europe's ability to scale innovation and retain strategic technologies and companies within Europe," said Nigel Govett, CFO of Novo Holdings.
Currency Exchange Rate
($1 = 0.8591 euros)
Reporting Credits
(Reporting by Sneha S K in Bengaluru; Editing by Joyjeet Das)
