Impact Disclosures

Tane’s mission to support impact-driven founding teams in their early stages with capital and a relevant network to grow their companies and have a significant impact on the built world - from reducing CO2 emissions to providing people with easier access to housing.
To achieve this goal we apply a balanced approach to our impact assessment, fitting to early-stage companies, where we overweigh the potential impact a company has and underweigh its current ESG practices.

The basis for our impact model is the Triple bottom line/lockstep model, expressing that economic sustainability can only exist if social and environmental sustainability are ensured. Further impact and growth go hand in hand: the stronger the company grows, the more impact is generated.

Based on eight of the seventeen Sustainable Development Goals that are relevant for the built world, we construct a strong, evidence-based impact hypothesis before each investment, in line with our regular target assessment.
The hypothesis is then substantiated by conducting a post-investment impact assessment, where individual impact KPIs are defined for each portfolio company.
Lastly we aggregate the impact of our portfolio, re-engage with founders on a constant basis and report to our LPs.

ESG Disclosures

‍No consideration of material adverse impacts on sustainability factors
Our operations may have adverse impacts of investment decisions on sustainability factors (environmental, social and labor concerns, respect for human rights, and anti-corruption and anti-bribery). In our operations, we do not consider adverse impacts of investment decisions on sustainability factors because, given the uniqueness of the target companies (startups) to which we provide capital and the diversity of the industries in which they develop their businesses, we believe it will be difficult to identify common sustainability factors applicable to all target companies and to obtain reliable data from such companies (which are at a relatively early stage of development).

Strategies for incorporating sustainability risks
As part of our internal processes and procedures, we do not consider sustainability risks that may have a material adverse impact on the returns of the investment assets we manage. For these purposes, we record as "sustainability risks" environmental, social or governance events or conditions, the occurrence of which could have an actual or potential material adverse effect on the value of the investment. Identifying and integrating sustainability risks common to the portfolio of assets could prevent us from implementing the agreed investment policy in a timely manner if it were necessary to ensure that each targeted company is able to meet its sustainability objectives and provide adequate and reliable data in this regard. As a result, we will not assess the likely impact of such sustainability risks on the fund's return
Sustainability-related disclosuresThe investment policy of the Fund is to generate short-/ medium- and long-term capital appreciation through debt related instruments with equity warrants in selected entities.

The Fund’s investment strategy is to make, directly or through intermediate vehicles, investments in growth stage companies in sector agnostic industries with innovative business models, promising enabling technologies and sound business cases. As of the date of this Memorandum, the Fund has started investing its funds and identified investment opportunities in young growing companies in order to realize risk diversification effects in a well-balanced portfolio in accordance with the investment policy.

Principal adverse sustainability impacts statement
This section is meant to describe to which extent Bridge To Growth (“BTG”) considers adverse impacts of investment decisions made for the Fund on sustainability factors. Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector (“SFDR”) defines “sustainability factors” as environmental, social and employee matters, respect for human rights, anti‐corruption and anti‐bribery matters (“Sustainability Factors”).

BTG considers principal adverse impacts of its investment decisions on sustainability factors. The present statement is the consolidated principal adverse sustainability impacts statement of BTG.BTG focusses its investment activity on investee companies which
(i) develop or manufacture technologies aiming to support a positive sustainability impact,
(ii) have implemented carbon emission reduction initiatives,
(iii) generate a significant share of recycled waste and
(iv) have established policies on anti-corruption and anti-bribery.

Description of principal adverse sustainability impactsThe following adverse sustainability indicators are applicable to investments made by BTG for the Fund in investee companies:
Greenhouse gas emissions: BTG does not invest in companies whose activity generates high greenhouse gas emissions or has a significant share of non-renewable energy consumption.Biodiversity: BTG does not invest in investee companies with operations located in or near to biodiversity-sensitive areas on which the business activity of the relevant company may have a negative impact.
Water: BTG does not invest in investee companies generating significant emissions to water.
Waste: BTG avoids investments in investee companies generating hazardous waste.
Social and employee matters: BTG avoids investments in investee companies that have been involved in violations of the United Nations Global Compact (UNGC) principles. BTG encourages investee companies to have a well-balanced female to male board members ratio and measures to achieve an adjustment of the gender pay gap.

Furthermore, BTG does not invest in investee companies that
(i) do not follow a human rights policy and a due diligence process to identify, prevent, mitigate and address adverse human rights impacts or
(ii) are exposed to operations or suppliers with a significant risk of incidents of child labor.

Description of policies to identify and prioritise principal adverse sustainability impacts
The above described sustainability criteria are part of BTG’s investment guidelines. Compliance with these guidelines will be requested by way of an ESG Questionnaire which all investee companies have to complete before an investment in the relevant company can be considered by BTG for the Fund. The responsibility for the implementation lies with BTG’s managing directors and its investment committee.
Engagement policies
BTG does not make investments in listed companies and therefore not have in place any engagement policies in accordance with Art. 3g of Directive 2007/36/EC of the European Parliament and of the Council. As a debt investor, the Fund will take a mere passive role in the investee companies which does not provide BTG with much power of reducing principal adverse impacts at the level of the investee companies.

References to international standards
BTG aims to align with the Green Pledge commitment of the Leaders for Climate Action (LFCA).
Integration of sustainability risks statement
This section is meant to describe the manner in which BTG integrates sustainability risks into its investment decisions. Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector (“SFDR”) defines “sustainability risks” as environmental, social or governance events or conditions that, if they occur, could cause an actual or a potential material negative impact on the value of the investments.
BTG and the Fund are aiming to implement a harmonised policy with respect to the integration of sustainability risks. This includes the integration of sustainability risks into the investment decision making process for the Fund and the exclusion of investments in investee companies if these could be exposed to sustainability risks.
The successful implementation of this approach is largely dependent on BTG having access to appropriate and reliable data in respect thereto.
No items found.
Sustainability-related disclosures

Mandatory disclosures under Regulation of the European Parliament and of the Council on sustainability-related disclosures in the financial services sector (EU) 2019/2088 (“SFDR”)

A.       Redstone Management GmbH
Date of Publication: June 1st 2023
I.           Transparency of sustainability risk[1] policies (Article 3 SFDR)
Redstone Management GmbH (the “Fund Manager”) is a long-term investor that embraces its responsibility towards investors, portfolio companies and stakeholders in the wider ecosystem in which the firm and its portfolio companies operate. The Fund Manager manages sustainability risks through a combination of committed participation on the boards of directors of its portfolio companies as well as ongoing monitoring of the progress of each company. Furthermore, sustainability risks will be considered as part of the due diligence and risk assessment processes in advance of each investment.

II.         Statement on principal adverse impacts of investment decisions on sustainability factors
Art. 4 SFDR provides for a framework aimed at achieving transparency with regard to any principle adverse impacts of investment decisions on sustainability factors. For this purpose, financial market participants such as the Fund Manager must disclose certain information (taking into account the Commission Delegated Regulation (EU) 2022/1288 (“RTS”) with regard to regulatory technical standards). Currently, the Fund Manager does not consider Principal Adverse Impact Indicators (“PAIs”) on the Fund Manager level. The Fund Manager considers PAIs on the Fund level.

III.        Transparency of remuneration policies in relation to the integration of sustainability risks (Article 5 SFDR)
As a registered AIFM within the meaning of section 2(4) of the German Capital Investment Code (Kapitalanlagesetzbuch), the Fund Manager does not have a remuneration guideline (remuneration policy) in accordance with the requirements of the German Capital Investment Code (Kapitalanlagesetzbuch). Accordingly, the integration of sustainability risks is not considered with respect to the determination of the remuneration.

B.        Human Impact Capital Vermögens GmbH & Co. KG
I.           Disclosure of sustainability-related information about financial products
1.         Summary

Human Impact Capital Vermögens GmbH & Co. KG (“The Fund”), managed by the Fund Manager, intends to promote social characteristics and hence envisages to invest only in ethically and socially sound portfolio companies. The Fund focuses on equity and equity-related investments in startups in the DACH region and Europe. The Fund strictly applies a binding exclusion list, the exclusion covers inter alia weapons and ammunition or tobacco. 100% of the invested capital will be in line with the exclusion list which will be taken into account during the entire investment process.

2.         No significant harm to the sustainable investment objective
The Fund will not significantly harm any investment objective by considering principal adverse impacts on sustainability factors in the investment decision making process. The Fund considers sustainability risks and takes Principal Adverse Impact Indicators (“PAIs”) into account as stated in Commission Delegated supplementing Regulation (EU) 2019/2088 (“SFDR RTS”) Annex I into account.
The Fund collects all PAIs stated in Table 1 of the SFDR RTS that are related to Social and Employee, Respect for Human Rights, Anti-Corruption and Anti-Bribery Matters. As the majority of the PAIs stated in Table 1 are related to the environment and is thus not in line with the social impact focused investment strategy of the Fund, the Fund does not take into consideration all PAIs. Additional PAIs out of Table 1 that are taken into account are all indicators related to Greenhouse Gas Emissions.
Out of Table 2 (“Additional climate and other environment-related indicators”) no PAIs are considered. Out of Table 3 (“Additional indicators for social and employee, respect for human rights, anti-corruption and anti-bribery matters”), the two PAIs “Incidents of discrimination” and “lack to anti-corruption and anti-bribery policies” are considered.
In addition to PAIs, the Fund has developed a standardized ESG questionnaire collecting additional ESG metrics. These metrics are complementary to the PAIs and cover the following areas:
-   Greenhouse Gas Emmissions
-   Board
-   Workforce
-   Diversity, Equity & Inclusion
-   Data Privacy & Security
Being a responsible investor, the Fund attributes great importance to good governance practices both internally as well as in the portfolio companies. The compliance of portfolio companies with OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights are thus monitored as well.
3.         Sustainable investment objective of the financial product
The Fund commits to make sustainable investments within the meaning of the SFDR. The Fund aims to invest in digital start-ups that address the biggest societal challenges and thus drive digital progress in the social sector.
The fund puts people at the center and strives for a strong focus on the social economy to shape equal opportunities and the future of every individual in a sustainable society with the help of innovation. The fund invests in start-ups that have the potential to improve the well-being of individuals with digital, innovative solutions.
Based on the 17 Sustainable Development Goals (SDGs), 5 SDGs have been selected that the Fund will focus on:
-   SDG 1 | No Poverty | End poverty in all its forms and everywhere.
-   SDG 3 | Good Health and Well-Being | Ensure a healthy life for all and people of all ages and promote their well-being.
-   SDG 4 | Quality Education | Ensure inclusive, equitable and quality education and promote lifelong learning opportunities for all.
-   SDG 5 | Gender Equality | Achieve gender equality and empower all women and girls.
-   SDG 10 | Reduced Inequalities | Reduce inequalities within and between countries.
Based on these 5 SDGs, the fund focuses on three core areas of the startup market:
-   Health: Solutions that create digital, personalized and data-driven offerings throughout the entire patient journey (prevention, diagnosis, treatment, follow-up care).
-   Education: Solutions that have the potential to improve people's education throughout their lifetime, promote lifelong learning, and complete and strengthen the education system.
-   Living: Solutions that have the potential to significantly improve the quality of life of the individual in and around their living spaces.
4.         Investment strategy
The Fund intends to build, hold and manage in its own name and for its own account a portfolio of equity and equity-related minority investments in digital startups in the areas of health, education and living from Pre-Seed to Series A stage in Europe with a focus on the DACH region.
The Fund intends to invest in companies where the social impact of the company is inherent to the business model. In this respect, the impact of the respective company scales together with commercial progress.
To ensure the best possible governance of portfolio companies, the Fund is actively managing the portfolio and is regularly taking on board mandates.

5.         Proportion of investments
The Fund commits to make 100% sustainable investments with a social objective.
6.         Monitoring of the sustainable investment objective
During the assessment of a potential investment, the Fund evaluates the Impact of the target following the Impact Management Framework (IMP Framework):  A model, which structures the intended impact measurement on the basis of five dimensions.
Post investment, individual Impact KPIs and goals are defined per portfolio company. The Fund together with the Management of the portfolio company at hand first defines a Theory of Change (TOC): TOC is a globally recognized impact measurement methodology that uses causal analysis to describe how and why a desired change should occur in a given context. The Fund will use TOC as part of a deeper impact measurement review. After the investment, the TOC will be used to define relevant impact KPIs and goals for continuous monitoring.

7.         Methodologies
The Fund collects the individually defined Impact KPIs together with the regular financial reporting of the respective portfolio company on a per-quarter basis. PAIs are collected on an annual basis. The impact performance is measured and monitored on the company level as well as on portfolio level. On portfolio level, the impact performance of each individual company is calculated as a weighted average based on the capital invested.
8.         Data sources and processing
Apart from its due diligence (as described below under 10. in further detail), monitoring and regular communication between the Fund Manager and the Fund’s portfolio companies, the Fund Manager does not conduct further research or investigations on a regular basis, at least as long as the data reported by the portfolio companies does not give raise to any reasonable doubts.
9.         Limitations to methodologies and data
The Fund relies on data reported by the portfolio companies to measure the attainment of the sustainable investment objectives. Given the early stages of the portfolio companies, some limitations may arise because some metrics may be based to a certain extent on estimations or assumptions. Moreover, since the impact KPIs are closely linked to the respective business model of the portfolio companies, they might have to be redefined in case of a pivot.
To mitigate these limitations and to ensure that the attainment of the sustainable investment objective is not affected, the Fund cooperates with experienced external impact measurement advisors.
10.      Due diligence
The assessment of how the Fund’s potential investment in the potential portfolio company relates to the promoted social characteristics is carried out as part of the due diligence process prior to the investment. Further reviews may be conducted beyond such due diligence process and regular monitoring if, and to the extent, the Fund Manager deems it appropriate to conduct an ad hoc review in a specific case. The Fund Manager does not foresee to engage external service providers to assess the social characteristics of a potential investment prior to the investment.

During the assessment of a potential investment, the Fund prepares an investment memorandum summarizing all relevant results of the due diligence. As part of this investment memorandum, the Fund dedicates a section to impact-relevant topics and presents the intended impact of the investment. The Fund uses the IMP Framework as overarching structure for the impact assessment. This framework carries out a structured assessment based on five impact dimensions and makes the intended impact measurement tangible:
-   What depicts what outcome the startup contributes to, whether it is positive or negative, and how important the outcome is to stakeholders.
-   Who tells which stakeholders experience the outcome and how underserved they are in relation to the outcome.
-   How much tells how many stakeholders the outcome addresses, the degree of change they experience and how long they can benefit from it.
-   Contribution tells whether a startup's and/or investor's efforts have led to outcomes that are likely to be better than what would otherwise have occurred.
-   Risk provides information about the likelihood that the impact will be different than expected.
Based on this assessment, the Fund provides an assessment of the intended impact.
11.      Engagement policies
The assessment of good governance practices of portfolio companies is partially incorporated in the Fund’s legal due diligence as far as good governance practices have been adopted by law.
In general, the Fund’s goal is to actively engage with the portfolio companies with regards to good governance practices relating to the Environment, Health, Safety and Social Inclusion.
12.      Attainment of the sustainable investment objective
Not applicable. No reference benchmark for attaining the sustainable investment objective has been designated for the Fund.

[1] ““Sustainability risk“ means „an environmental, social or governance event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of the investment“ (Sec. 2 no. 22 SFDR).
No items found.


Eu Sustainable Finance Disclosure

Pursuant to EU Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (the “SFDR”), Redstone QIA Ventures, S.à r.l. (the “Redstone QAI Ventures”) as registered Luxembourg AIFM is required to disclose the manner in which Sustainability Risks (as defined hereafter) are integrated by the fund into the investment decision and the results of the assessment of the likely impacts of Sustainability Risks on the returns of the fund. “Sustainability Risk” means an environmental, social or governance event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of the investments made by the fund. Such risk is principally linked to climate-related events resulting from climate change (i.e. physical risks) or to the society’s response to climate change (i.e. transition risks), which may result in unanticipated losses that could affect the fund’s investments and financial condition. Social events (e.g. inequality, inclusiveness, labour relations, investment in human capital, accident prevention, changing customer behavior, etc.) or governance shortcomings (e.g. recurrent significant breach of international agreements, bribery issues, products quality and safety, selling practices, etc.) may also translate into Sustainability Risks.

The impacts following the occurrence of a Sustainability Risk may be numerous and vary depending on the specific risk, region and asset class. In general, where a Sustainability Risk occurs in respect of an asset, there will be a negative impact on, or entire loss of, its value

No consideration of sustainability adverse impacts

Redstone QAI Ventures does not consider the adverse impacts of investment decisions on sustainability factors (as defined hereafter) in the manner prescribed by Article 4 of the SFDR, considering that non-financial data is still not available in satisfactory quality and quantity to allow Redstone QAI Ventures to adequately assess the potential adverse impact of its investment decision on sustainability factors. The position will be kept under review as the underlying rules are finalised and are embedded in the short to medium term. “Sustainability Factors” means environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters.

No items found.
No items found.