Novo Holdings backs European tech fund with 500 million

Novo Holdings committed 500 million euros ($582 million) as a founding investor in the Scaleup Europe Fund to support late-stage technology growth. The pan-European fund targets 5 billion euros to anchor innovation within the continent and prevent strategic companies from moving abroad. This commitment allows Novo Holdings to scale strategic technologies across digital, physical, and planetary health sectors.

### Scaling European Innovation The Scaleup Europe Fund focuses on companies in growth, late-stage, and pre-IPO phases. It targets three primary investment themes: digital and intelligent systems, physical systems, and human and planetary health. Typical investment sizes will exceed 100 million euros per deal, including follow-on rounds.