Novo Capital (formerly MSA Novo) is a multi-stage global venture capital firm and Singapore-based franchise of MSA Capital, investing in technology-focused startups across emerging markets including LATAM, Africa, MENA, India, and Southeast Asia.
45% of their portfolio is in Biotech & Life Sciences. Deal activity decreased year-over-year (1 deals in the last 12 months vs 8 prior). Average disclosed round size is $94.9M (across 70 rounds with reported amounts).
Portfolio
69
Fund Size
—
Top Stage
Series C
Last 12 Mo
6
Team
JG
Justin Goucher
Director | M&A Advisory
JP
James Parker
Associate
ZW
Zena Wang
Investor
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
83 investments
| Company | Round | Amount | Date |
|---|---|---|---|
| PPrecirix | Series B | — | Aug 2026 |
 cAMPfield Therapeutics | Series A | $180M | Jun 2026 |
| TTerremoto Biosciences | Series C | $108M | Apr 2026 |
| AAdcendo ApS | Series C | $75M | Apr 2026 |
| CClaris Bio | Series B | — | Jan 2026 |
| HHemab | Series C | $157M | Oct 2025 |
| HHemab | Series C | $157M | Jan 2025 |
 Orbis Medicines | Series A | — | Jan 2025 |
 AnaCardio | Series A | $19M | Jan 2025 |
| HHillstar | Series A | $67M | Jan 2025 |
 Glycomine, Inc. | Series C | $115M | Jan 2025 |
 Fire1 | Unknown | $120M | Jan 2025 |
 SiteOne Therapeutics | Series C | $100M | Dec 2024 |
 Nuvig Therapeutics | Series B | $161M | Dec 2024 |
| AAlentis | Series D | $181.4M | Nov 2024 |
| EElektrofi | Series C | $112.3M | Oct 2024 |
 Kivu Bioscience | Series A | $92M | Oct 2024 |
 AvenCell | Series B | $112M | Oct 2024 |
 Asceneuron | Series C | $100M | Jul 2024 |
 Myricx Bio | Series A | $90M | Jul 2024 |
| NNalu | Series E | $65M | Mar 2024 |
| Asceneuron | Series C | $100M | Jan 2024 |
| FF2G | Series H | $100M | Jan 2024 |
 HepaRegenix | Series C | — | Jan 2024 |
 OnCusp | Series A | $100M | Jan 2024 |
Page 1 of 4
Top Co-Investors
Sofinnova Partners17 shared
Novo Holdings A/S13 shared
OrbiMed13 shared
RA Capital Management10 shared
Cormorant Asset Management9 shared
Sanofi Ventures8 shared
Longitude Capital8 shared
Frazier Healthcare Partners8 shared
Forbion8 shared
Rock Springs Capital7 shared
Gilde Healthcare7 shared
HealthCap7 shared
Canaan Partners7 shared
F-Prime Capital6 shared
Abingworth LLP6 shared
TPG Biotech6 shared
Surveyor Capital6 shared
Polaris Partners5 shared
Jeito Capital5 shared
RiverVest Venture Partners5 shared
Last updated: 7 September 2026