Fund Information. Venture Portfolio Company Detail.

Purpose

Where a fund has invested in Seed, Start-up or a Later-stage financing (see Glossary for the Invest Europe Development Stage definitions of such investments) the following additional disclosures to those set out on Portfolio Asset Detail page may be required to reflect the particular characteristics of such Venture Portfolio Company investments:

Basic Information

Requirements

• Stage of initial investment (e.g. seed, start-up, other early stage, etc. – as described in the Invest Europe Development Stage definitions) for multi-stage funds;

Additional possible disclosures

• Current stage (with reference to Invest Europe Development Stage definitions);

Fund’s Investment

No additional disclosures

Trading and Financial Overview

Requirements

• Description of environmental, social or governance risks and opportunities specifically affecting the portfolio company and measures taken by the General Partner (GP) to manage them. In the case of early stage businesses this should be proportionate in relationship to its development, but should nevertheless reflect legal obligations.
• Commentary on key developments in the business including:
  – Status on major milestone(s);
  – Scientific/technical/regulatory developments;
  – Achievements, certifications (e.g. patents), approvals,
  key events.

Additional possible disclosures

• Key performance metrics used by the GP to monitor the investment (e.g. current cash balance, current cash burn rate).

Valuation

Additional possible disclosures

• Disclosure of important metrics and assumptions used to determine fair value (e.g. financial terms of the last round funding discount rate, share price, etc.);
• Achievement/failure of milestones.