Novo Holdings is seeking an MBA Intern to support the Planetary Health Investments team in its investment activities over the course of the fall/spring semester in its San Francisco office.

Novo Holdings is a holding and investment company responsible for managing the assets and wealth of the Novo Nordisk Foundation. Our purpose is to improve people's health and the sustainability of society and the planet by generating attractive long-term returns on the Foundation's assets. 

The Planetary Health team invests in transformative solutions that address the world’s most pressing environmental challenges. Our mandate is to deliver competitive financial returns while accelerating the transition to a sustainable economy, with a focus on Food & Agriculture, Cities / Urbanization, Materials, and Energy. We seek to back visionary companies and technologies that can scale to improve planetary health and resilience while seeking financial returns. Our portfolio includes venture, growth, and buyout profiles with a focus on buyout transactions in the U.S.

Headquartered in Copenhagen, with affiliates in San Francisco, Boston, Singapore, and Shanghai, Novo Holdings is a world-leading life science and sustainability investor with a focus on creating long-term value. In addition to its life sciences activities, Novo Holdings manages a broad portfolio of public and private assets. As of year-end 2025, Novo Holdings had total assets of EUR 93 billion.

Further information: www.novoholdings.dk

The Job

The Planetary Health Investments team invests in scalable, high-growth companies developing solutions for a sustainable future. The team takes a thematic approach to investing, focusing on specific ecosystems across our four priority domains:

• Food & Agriculture – enabling sustainable and secure food systems
• Cities / Urbanization – advancing resource-efficient and resilient urban living
• Materials – accelerating the shift to low-impact and circular material solutions
• Energy – supporting the transition to clean, reliable, and affordable energy systems

As an intern, you will join Novo Holdings’ Planetary Health Investments team in San Francisco and support the team in all aspects of its investment efforts.

Compensation will $26 per hour, with an expected minimum commitment of 10–25 hours per week. While we encourage the intern to work on-site at least once per week, we offer flexibility in the exact schedule to accommodate academic and personal commitments.

Your tasks will include:

• Market landscaping across thematic areas, including mapping out a space, identifying key unmet needs, and identifying current (incumbents) and novel solutions (new companies/potential investments)
• Conducting financial analysis to assess new deal opportunities and strategic initiatives at existing portfolio companies (mix of venture, growth equity, and buyout transactions)
• Assisting in due diligence processes on new investment opportunities
• Preparing investment materials and internal memoranda on potential and existing investments
• Supporting management of team CRM systems and vendor platforms

Working at Novo Holdings

We have a respectful and collaborative work culture where your opinion is valued. We are committed to diversity, equity, and inclusion, welcome and celebrate individuals of all backgrounds, orientations, and identities. You will enjoy being part of a dedicated, international and dynamic team with diverse backgrounds.

Requirements

Professional Qualifications

• Currently enrolled in an MBA program or recently graduated
• Demonstrated interest or passion for sustainability, climate innovation, or the Planetary Health investment focus areas (Food & Agriculture, Cities / Urbanization, Materials, and Energy)
• Has achieved strong academic results and is interested in pursuing a career in financial services such as investment banking, venture capital, or private equity
• Possesses strong verbal and written English communication skills
• Is a demonstrated self-starter with a high level of integrity and accountability
• Exhibits strong intellectual curiosity and detail orientation
• Strong work ethic and is eager to work in a fast-paced environment

Personal Characteristics

• Excellent analytical skills with the right combination of overview and attention to detail
• Ability to work independently with structure
• Highly motivated self-starter
• Team player who wants to actively contribute and has a positive can-do attitude
• Quality-conscious and impact-oriented

Benefits

• Lunch provided in office each day
• Commute-related expenses covered up to $400 per month