Sylvan Receives Investment from Novo Holdings to Drive Further Growth

Novo Holdings and KKR announced a new partnership that will see Novo Holdings make a direct investment in Sylvan, a global leader in fungal biotechnology. KKR will remain the company’s majority shareholder.

This marks Novo Holdings’ largest investment in the planetary health sector in Asia and its first in fungal biotechnology. The capital injection will support Sylvan’s expansion plans, including increased production capacity, enhanced R&D, and deeper penetration into Asia’s high-growth markets. Novo Holdings will also bring strategic value through its global life science network.

Founded in 1932 and headquartered in China, Sylvan is the world’s largest mushroom spawn manufacturer. The company operates multiple global facilities and serves customers in 65 countries. Its sustainable production methods use minimal land and water and turn agricultural waste into high-quality protein sources. Sylvan also develops fungi-based bioproducts such as bio-materials, nutritional supplements, and biopesticides.

Jackie Qi, CEO of Sylvan, said the company is aiming to become a global leader across food, health, agriculture, and materials, leveraging both Novo Holdings’ and KKR’s expertise.

Novo Holdings’ Asia leadership highlighted Sylvan’s strategic importance in supporting sustainable innovations across Asia, and KKR reaffirmed its commitment to backing global solutions with environmental and economic impact.

Novo Holdings is the investment arm of the Novo Nordisk Foundation with €142 billion in assets. KKR is a global investment firm specializing in private equity, real assets, and insurance solutions.