Selection & Diligence

Every company must positively contribute to at least one UN Sustainable Development Goal while doing no significant harm to the others, in line with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights. We weigh the scale of that contribution: how much measurable, additional impact the business can create as it grows.

We back people first. We look for founders and management with real domain expertise, a track record of execution and a genuine commitment to the mission, the kind that holds through the hard years, not just the good ones.

A clear model that can scale, with a credible route from today's numbers to a self-sustaining, growing business. Impact endures only when the business underneath it does, so we test how far and how efficiently the model can stretch.

The opportunity has to be big enough to build a category leader: a sizeable, expanding addressable market with structural tailwinds, where a winner can scale impact and returns together.

A differentiated solution with a durable edge, whether technology, data, intellectual property or network effects, that competitors cannot easily replicate and that only strengthens as the company grows.

A well-defined business plan with strong financial forecasts and an attractive risk-return profile. Sound numbers underpin our conviction and the returns we target across the portfolio.

A credible path to liquidity, mapped from the outset: a strategic sale, a private-equity route or a public listing. We invest with the exit already in view.