Investment Policy

The investment objective of the AIF is to provide a positive return and long-term capital growth for the investors with a long-term investment horizon. In order to achieve this investment objective, the AIF pursues the following investment strategy:

Sustainable Invest­ments

The AIF predom­in­antly invests, either directly or indir­ectly, in equity secur­ities or other financing instru­ments of companies with a focus on the following business profiles, which can include but is not limited to

The AIF is partic­u­larly inter­ested in companies which offer promising solutions in the energy sector, be it with regard to the technology, the business model or the organ­iz­a­tional and managerial imple­ment­ation.

Company Lifecycle

The target invest­ments shall offer the potential for above average growth rates and marketable solutions respective opera­tions within 3-5 years. The AIF targets companies which are a bit beyond the very first initial stage of being a start-up and do already show some unique charac­ter­istics compared to their peers.

The AIF intends to, but is not obliged to, invest mainly in companies in steps 2-5 of the following “company lifecycle” table:

The AIF is also permitted to form inter­me­diate holding companies for indirect holdings in target companies.

Role as Investor

The AIF does not pursue a role as active investor, but only the role of a pure financial investor. Therefore in the course of imple­menting the investment policy, the AIF does not primarily intend to build up qualified major­ities in the acquired invest­ments to actively influence the strategic direction and business performance of the respective target company as an active investor. Never­theless, the AIF may exercise voting rights at general meetings in the best interests of the investors of the fund. In its role as share­holder, the AIF may also mandate qualified third parties to exercise super­visory positions in the target companies.

Private Equity

There is no requirement for any of the AIF’s invest­ments to be listed on a stock exchange or on any regulated and trans­parent market. Hence, the AIF is primarily meant for private equity invest­ments with or without the outlook of an initial public offering (IPO). However, a potential IPO and/​or any takeover scenarios might increase the attract­iveness of an investment.

In order to achieve its objectives, the AIF may invest up to 100% of its assets in secur­ities of listed and unlisted companies in accordance with the above-mentioned strategy. The investment may also be made in only one company (“concen­tration on a few invest­ments”), which leads to consid­erably higher risks and chances.

Geographical Focus

Geograph­ically there are no limits, neither with respect to the domicili­ation of any target invest­ments nor with respect to the geographical scope of their activ­ities, products and services. As technology-driven companies do usually aim for transna­tional markets it is likely that most invest­ments made will be into companies with a presumed or targeted global reach.

Leverage

The AIF can use deriv­ative financial instru­ments for investment or hedging purposes, in particular for managing the investment level and the interest rate risk.

ESG Policy

At any time the ESG Policy of the AIF (Art. 18.4.1) shall be observed.

1. Regulation (EU) 2019/2088 (“SFDR”)

This AIF is a financial product within the meaning of Art. 9 of Regulation (EU) 2019/2088 (“SFDR”).

2. ESG Policy

In accordance with the investment strategy outlined in Art. 18.3, the sustainable investment objective of this financial product is to contribute to the envir­on­mental goal of mitig­ating climate change, as outlined in Article 9(a) of Regulation (EU) 2020/852 (the “Taxonomy”), by directing at least 95% of the AIF’s invest­ments towards economic activ­ities that achieve substantial reduc­tions in carbon emissions. Specifically, all investee companies must demon­strate the capacity to reduce carbon emissions by no less than 70% before quali­fying for investment.

This objective is fully aligned with the Paris Agreement and SDG 13: “Take urgent action to combat climate change and its impacts.” The percentage reduction in carbon emissions serves as the primary sustain­ab­ility indicator for measuring the attainment of this objective.

Furthermore, these invest­ments must meet the criteria for envir­on­mentally sustainable economic activ­ities as defined in Article 2(17) of Regulation (EU) 2019/2088 (SFDR) at all times.

The method­ology to assess, measure, and monitor the impact of the sustainable invest­ments includes:

The invest­ments under­lying the financial product are not in economic activ­ities that qualify as envir­on­mentally sustainable under Article 3 of Regulation (EU) 2020/852 (“Taxonomy”). The investment strategy of the AIF covers a wide range of inter­na­tional markets and considers companies at various stages of devel­opment. As a result, formal alignment with the EU Taxonomy may not always be possible, even when invest­ments support the sustainable investment objective of the AIF. Therefore, the AIF does not consider the EU criteria for envir­on­mentally sustainable economic activ­ities (“Taxonomy”).

The AIF operates independ­ently of any benchmark index, allowing for flexible investment decisions. It adopts a holistic ESG approach, emphas­izing envir­on­mental, social, and governance factors. This sustainable orient­ation involves various sustain­ab­ility factors, including employee, social, and envir­on­mental concerns, respect for human rights, and anti-corruption measures. The AIF does not impose geographical restric­tions on issuers’ registered offices and invests across different market capit­al­iz­a­tions.

The due diligence processes of the AIF regarding the “Do No Signi­ficant Harm” principle consider PAI indic­ators explained in Table 1 of Annex 1 of the Commission Delegated Regulation (EU) 2022/1288.

All inform­ation related to adverse impact indic­ators can be found on the Fund’s official website in a section titled “Statement on principal adverse impacts of investment decisions on sustain­ab­ility factors”.

When the AIF’s investee companies are in their early-stage devel­opment, the situation of them being unable to track their data related to the PAI indic­ators may occur. In such cases, the Fund will actively collab­orate with its investee companies to establish appro­priate reporting and measurement processes as they mature. This effort is part of the Fund’s ongoing commitment to advancing ESG practices.

The avail­ab­ility of data is regularly monitored to under­stand whether any relevant indic­ators from Table 2 and Table 3 of Annex 1 of the Commission Delegated Regulation (EU) 2022/1288 of 6 April 2022 can be properly taken into account in the future.

3. Remark pursuant to Article 18 Commission Delegated Regulation (EU) 2022/1288

In accordance with Article 18 of Commission Delegated Regulation (EU) 2022/1288, it is noted that pre- contractual inform­ation on envir­on­mental or social charac­ter­istics can be found in the Annex in the stand­ardized form set out in Annex III of Commission Delegated Regulation (EU) 2022/1288.

The AIFM is committed to sustain­ab­ility and strives always to respect envir­onment, social and governance standards in its business dealings.

In accordance with Regulation (EU) 2019/2088 (“SFDR”), the following inform­ation is provided.

1. Remark regarding Art. 4 (1) (a) of Regulation (EU) 2019/2088 (“SFDR”).

Investors are advised that the “principal adverse impacts” of investment decisions on sustain­ab­ility factors are not considered at the level of the AIFM.

2. Disclaimer pursuant to Art. 4 (1) (b) of Regulation (EU) 2019/2088 (“SFDR”)

Investors are advised that in aggregate, for all its managed funds, the AIFM does not consider adverse impacts of investment decisions on sustain­ab­ility factors, among others for the following reasons:

• The AIFM’s main business is in private label funds; it therefore mainly sets up and manages funds on behalf of third parties. The AIFM therefore has little to no influence over the structure of the funds.
• Portfolio management for the funds is often delegated to third parties and the AIFM therefore does not take the investment decisions.
• Some fund types are funda­mentally unsuited to the consid­er­ation of adverse impacts on sustain­ab­ility factors, such as funds for struc­turing complex corporate situations, for succession and inher­itance planning or for protection against hostile takeovers.
• Many of these types of funds are also not available for subscription by external investors.

Aggreg­ating adverse sustain­ab­ility impacts across these very different fund types would have no added
value for investors and is also not practicable.

Despite this, the AIFM endeavours to encourage its business partners to consider sustain­ab­ility factors as far as possible, when they are relevant.