The chart below shows the foundation’s activities, supported by our staff of around 30. Lundbeckfonden is one of Denmark’s largest commercial foundations, worth over DKK 50 billion. We award research grants amounting to about half a billion Danish kroner each year. We have three large subsidiaries, Lundbeck, ALK and Falck, an international portfolio of 20 venture capital companies, organisationally anchored in Lundbeckfonden Ventures, and a portfolio of small biotech companies based on Danish university research in Lundbeckfonden Emerge. Our Investment Department manages assets of around DKK 14 billion.