Share on linkedin Investment company Novo Holdings, the largest shareholder of Novo Nordisk, has launched a growth equity strategy focused on climate change, Axios has learned.Novo Holdings, with around $160 billion under management, brings deep pockets to climate investing.The group is responsible for managing the assets and wealth of the Novo Nordisk Foundation.
It has mainly focused on healthcare and capital investments, though it's made occasional investments on green startups.Novo Holdings' board in May voted to launch what it's calling a "planetary health" investment strategy, the firm tells Axios.Zoom in: The planetary health group will invest across stages, from "sub-$1 million" pre-seed checks through major infrastructure deals and control investments, Kueppers tells Axios.
"Think green chemicals, agriculture, circular economy, waste to value, materials, industrial value chains," Kueppers tells Axios. "There is science DNA in our investment philosophy."The approach builds on an earlier "bio-industrial" strategy that Novo Holdings launched in 2016, which made early-stage investments in startups such as green cement maker Biomason and sustainable leather maker Mycoworks.