As Head of Principal Investments, Christoffer Søderberg will be overall responsible for executing Principal Investments’ strategy. This includes leading a team of 20+ professionals, managing and growing the existing portfolio, value exceeding DKK 50 billion (USD 8 billion), of investments in leading European and US life science companies. Two senior hires have been made in the United States as the first step of establishing a direct presence for Principal Investments in the world’s most important healthcare and life science market.
The new Head of Principal Investments at Novo Holdings has been found within the ranks of the Principal Investments’ team. Christoffer Søderberg, most recently Head of Principal Investments in Europe, has been promoted to Head of Principal Investments.
“Christoffer has been a key member of the Principal Investments team since joining Novo Holdings in 2016. He has successfully set the direction for Principal Investments over the past years, demonstrating exemplary leadership skills as well as a strong investment mindset and track record. I look forward to continue working with Christoffer to execute our strategy of building on and enhancing our position as a world leading life science investor,” says Kasim Kutay, CEO, Novo Holdings.
Principal Investments makes sizable investments in leading, well-established life science companies with a flexible mandate to invest in private companies (control and minority positions) as well as in listed companies. The team has a distinct approach, combining deep life science expertise and insights with leading transaction and execution capabilities and flexibility in terms of ownership horizon and ownership structure.
A key component of the strategy is the establishment of Principal Investments in the United States, which will take effect as of 1 September with the appointment of two seasoned life science investors, Abhijeet Lele and Jon Levy, as Senior Partners. They will both be based in Boston, and Abhijeet Lele has been appointed Head of Principal Investments in the United States (link to separate release).
“I am truly excited about the opportunity to lead the Principal Investments team. This includes being part of taking us to the next level by establishing a direct presence in the United States, the world’s most important healthcare and life sciences market, managing our existing US investments and executing new investment opportunities,” says Christoffer Søderberg, Head of Principal Investments, Novo Holdings.
Principal Investments has invested in the United States since mid-2016. Until now, these investments have been executed and managed out of the established set-up in Europe.
“We have matured and institutionalized as a team and as an organization over the past years, and we feel the timing is right for us to expand geographically, becoming increasingly plugged into the life science and healthcare investment ecosystem in the US in order to grow our portfolio and generate outsized returns,” Christoffer Søderberg adds.
Before joining Novo Holdings, Christoffer Søderberg was a Senior Principal at BCG, leading the Copenhagen Private Equity and Principal Investors practice area. Prior to joining BCG, he was Global Head of Group Strategy and M&A at Falck and CFO at Falck Assistance. Prior to joining Falck, Christoffer worked as a Director at Carnegie Investment Banking, focusing on buy- and sell-side M&A. Christoffer holds a BSc in International Business and an MSc in Finance and Accounting from Copenhagen Business School.
Abhijeet Lele has 20+ years of life science investment experience, most recently from a position as US Head of Healthcare at Temasek, based in New York. Jon Levy joins with 10+ years of life science private equity/buyout experience as well as a handful of years as an investment banker from a position most recently as Managing Director in the Healthcare team of the global private equity firm CVC Capital Partners, based in New York.
The Principal Investments portfolio comprised 12 companies as of end 2019. Three of these companies (ERT, WCG and Inogen) are based in the United States, and eight of the companies (Chr. Hansen, ConvaTec, Envirotainer, Evotec, Orexo, Sonion, SYNLAB and Xellia Pharmaceuticals) are based in Europe. Novo Holdings divested its stake in Symphogen in April of this year.