Life science investor Novo Holdings expanding to Asia, sets up SG office

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Life science investor Novo Holdings, the venture capital arm of Novo Nordisk Foundation, is expanding into Asia and setting up an office in Singapore, the company said in a statement Thursday.

Novo Holdings said it has tapped Amit Kakar to head the Asian outpost and lead investments and partnerships in China, Japan, Singapore and the rest of Southeast Asia.

Kakar will be based in Singapore when he takes up the reins at the beginning of August. He was previously the head of business development and M&A at Everlife Asia, a buy-and-build platform for healthcare in South East Asia and India.

Novo Holdings manages Novo Nordisk Foundation’s wealth and invests in life science companies at all development stages.

“We have followed the life sciences markets in Asia closely, and the growth, the demographics and the increased focus on innovation and R&D make the region a compelling area for us to explore investment opportunities,” Novo Holdings CEO Kasim Kutay said in the statement.

In an email response to DealStreetAsia, a representative of Novo Holdings said, deal sizes in Asia will be in line with those for Novo’s US and European offices, and that it would be flexible on the maturity of the investment targets.

Investments will be grouped under Principal Investments that will make sizable investments in well-established companies; Novo Growth that will provide expansion capital to high-growth plays; and Novo Ventures that will invest in venture-stage biotech and medical technology companies, the representative said.

Principal Investments has $7.9 billion in assets while Novo Ventures has $1.3 billion. Also, Novo Seeds has $200 million and Novo Growth has $400 million, as of March 2020, Novo Holdings said.

 

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.