A side-by-side comparison of two Healthcare investors: HSG (Power Score 85/100) and Novo Holdings (Power Score 83/100), both ranked among the most active firms tracked in this category.
| HSG | Novo Holdings | |
|---|---|---|
| Power Score™ | 85/100 | 83/100 |
| Assets Managed | Over US$61B (assets for institutional investors as of 30 June 2026, per hsgcap.com/about-us) | €93B (approx.; DKK 694bn total assets under management at 31 December 2025, per the Novo Holdings Annual Report 2025, of which DKK 407bn is the holding in Novo Nordisk) |
| Founded | 2005 | 1999 |
| Headquarters | Hong Kong, China | Hellerup, Denmark |
| Sectors | Technology, Healthcare, Consumer | Pharmaceuticals, Biotech, Medtech, Healthcare, Synthetic Biology, Climate, Deep Tech, Real Estate, Infrastructure |
HSG describes itself on its own About Us page as a venture capital and private equity firm, formerly known as Sequoia China, investing globally across technology, healthcare and consumer sectors. Its Chinese-language site describes the same three areas as 科技, 医疗 and 消费, and lists its investment stages as seed-stage, growth-stage, buyout, new-infrastructure and public-market investing (种子期投资, 成长期投资, 并购投资, 新基建投资, 公开市场投资). The firm states it has backed more than 1,800 companies, that over 190 of them have gone public and that over 140 have become unicorns. It states offices in Hong Kong, Shanghai, Beijing, Shenzhen, London, Tokyo and Singapore.
View full HSG profile →Novo Holdings A/S is the holding and investment company of the Novo Nordisk Foundation, responsible for managing the Foundation's assets and wealth. Its stated purpose is to improve people's health and the sustainability of society and the planet by generating long-term returns on the Foundation's assets. Its work splits into two parts. First, it is the controlling shareholder of the Novo Group companies Novo Nordisk A/S and Novonesis A/S, holding more than 25 per cent of the ordinary share capital of each, including all the preferred A shares, and more than 70 per cent of the votes; the firm states its strategy is to be a stable and supportive owner of the Novo Group. Second, it runs an investment portfolio in two parts: Life Science Investments, made up of the Seed, Venture, Principal Investments, Planetary Health Investments and Asia teams, and Capital Investments, which manages equities, bonds, real estate, infrastructure and private equity, builds relationships with external equity and fixed income fund managers, and makes direct public equity and bond investments. The firm says it invests in almost all life science segments including pharmaceuticals, biotechnology, medical technology, healthcare services and industrial biosolutions, across North America, Europe and Asia. It is headquartered in Hellerup, Denmark, with offices in Boston, San Francisco, London, Singapore, Shanghai and Mumbai, and states that it employs more than 200 people and has made 180-plus direct investments.
View full Novo Holdings profile →