Novo Holdings manages the Novo Nordisk Foundation’s ownership of Novo Nordisk.
Novo Holdings A/S is the foundation’s wholly owned holding company and investment arm. It manages the foundation’s assets, seeks long-term financial returns, and holds the foundation’s controlling stakes in the Novo Group, including Novo Nordisk and Novonesis, formerly known as Novozymes.
The arrangement reflects a distinctive Danish enterprise-foundation model. The Novo Nordisk Foundation has no private owners; instead, it maintains long-term ownership of major companies while using investment income and dividends to support grants for scientific, humanitarian, health, and social purposes. Novo Holdings provides the corporate structure connecting those commercial holdings with the foundation’s philanthropic mission.
A common mistake is to answer “Novo Ventures,” which is an investment activity associated with Novo Holdings rather than the holding company itself. Another mix-up is treating the foundation as if it directly operates Novo Nordisk. The foundation controls voting power through its ownership structure, while Novo Holdings manages that ownership and the wider asset portfolio.