The SFDR regulation forms part of the European Commission's action plan on sustainable finance and imposes new transparency obligations and periodic reporting requirements on financial market participants (including authorized and registered managers of alternative investment fund managers (AIFMs) at both product and entity level.
As a financial market participant, Tensor Ventures GP S.à r.l (the “GP”), as general partner and registered AIFM of Tensor Ventures Fund I (the “Fund”) makes the following disclosure in accordance with SFDR regulation.The investments of the Fund do not take into account the EU criteria for environmentally sustainable economic activities.
Sustainability risks, being environmental, social or governance events or conditions that, if they occur, could cause a negative material impact on the value of the investments, are not considered by the GP in its investment decision-making processes and due diligence procedures, as the GP believes that they are not material to the investment decision making process considering the nature and the size of the investments (seed and early-stage financing rounds of startups).
The GP lacks the necessary resources to acquire the data to comply with the requirements in relation to the consideration of principal adverse impacts. Therefore, while supportive of the policy aims of the principal adverse impact regime, the GP does not currently consider principal adverse impacts. This decision will be kept under review concerning the indicators foreseen in the technical standards published by the European authorities.
The GP is remunerated by means of a management fee calculated on the total capital commitment of the limited partners during the investment period of the Fund and subject to a cap. Thereafter, the management fee is calculated on invested capital and is subject to management fees and expenses cap. Any money or fees of any description whatsoever to be paid will be offset 100% against the management fee paid in respect of each portfolio, prorate to the amounts paid in respect of each portfolio. The risk management process in place regarding the investment decision making process ensures that excessive risk is not encouraged (including as regards sustainability risks).
The investments underlying this financial product do not take into account the EU criteria for environmentally sustainable economic activities.