A side-by-side comparison of two Healthcare investors: Novo Holdings (Power Score 83/100) and Shenzhen Capital Group (Power Score 80/100), both ranked among the most active firms tracked in this category.
| Novo Holdings | Shenzhen Capital Group | |
|---|---|---|
| Power Score™ | 83/100 | 80/100 |
| Assets Managed | €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) | US$50B+ (approx.; the firm's figure is RMB 360.273bn of paid-in capital across all funds it and its subsidiaries manage at 31 December 2024, per its 2025 bond credit rating report - paid-in fund scale, not net asset value) |
| Founded | 1999 | 1999 |
| Headquarters | Hellerup, Denmark | Shenzhen, China |
| Sectors | Pharmaceuticals, Biotech, Medtech, Healthcare, Synthetic Biology, Climate, Deep Tech, Real Estate, Infrastructure | Semiconductors, Technology, Robotics, Industrial Manufacturing, Advanced Manufacturing, Clean Energy, Biotech, Pharmaceuticals, Infrastructure Software |
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 →Shenzhen Capital Group describes itself on its own site as a state-owned comprehensive investment group whose core business is venture capital, and says its business spans venture capital, real estate investment, public mutual funds and asset securitisation. Within venture capital it says it manages venture funds, funds of funds, S funds and buyout funds, and it has managed government guidance funds since setting up China's first government guidance sub-fund with the Suzhou municipal government in 2007 and taking on entrusted management of the Shenzhen municipal guidance fund from 2016. Chairman Zuo Ding stated in a 25 February 2026 article on the group's site that more than 85 per cent of the 1,800 plus companies the group has directly invested in are start-up stage or growth stage, that more than 90 per cent are hard technology companies, and that the focus areas cover semiconductors, robotics, new materials, biopharmaceuticals and industrial software. The group's investment departments are organised by both sector (information technology, high-end equipment, general equipment, new materials, new energy, biopharmaceuticals) and region (Greater Bay Area, North China, Northeast, Central China, Southeast, Jiangsu, Shanghai, West China). Its wholly owned subsidiary Red Soil Innovation Fund Management, set up in June 2014, was the first public mutual fund management company in China established by a private equity institution.
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