At Failup Ventures, we believe that we have the responsibility to improve on our society from how it was given to us at birth. A well-functioning society is the key to our modern civilization. We recognize that our primary goal is to bring financial returns to our limited partners, but we can deliver those returns in a way that benefits all of society. You can read detailed plans on how we will implement this in our Responsible Investment Policy.
NO CONSIDERATION OF ADVERSE IMPACTS OF INVESTMENT DECISIONS ON SUSTAINABILITY FACTORS
Failup Ventures Management Oy (“Failup”) does not consider adverse impacts of investment decisions on sustainability factors as meant in the SFDR for the time being. However, Failup may decide to consider the PAI in the future when it has made its first investments and has gained a better understanding of how the PAI apply in its investment activities and how the required information is available from, or in relation to, its portfolio companies.
Considering that Failup is managing its first fund and is only started to build its portfolio, and taking into account that generally the portfolio companies are expected to be in their early stages, there might be some portfolio companies in relation to which the principal adverse sustainability impacts cannot be measured up to an adequate level. For example, due to the early stage of the portfolio company, relevant data may not necessarily be collected in a reliable way, or the company may not yet have sufficient systems or methods for monitoring or reporting the information required for these purposes.
TRANSPARENCY OF SUSTAINABILITY RISK POLICIES
The following includes information about Failup’s policies on the integration of sustainability risks in its investment decision‐making process in accordance with article 3 of the SFDR.
Sustainability risks are evaluated thoroughly in respect of each investment of the funds that Failup manages as a part of the due diligence and investment decision. Failup believes that the securities of companies who operate responsibly will yield better results as investment objects in the long run. As a part of the investment analysis, Failup conducts ESG due diligence process prior to all investments.
Environmental risks considered include, among others, adverse effects of climate change, emissions, energy usage, neglected energy efficiency, neglected resource efficiency including recycling, as well as effects of loss of biodiversity.
Social risks considered include health and safety issues, diversity and inclusion, employee satisfaction and human rights.
Governance risks considered include legal compliance, applicable industry practices, cybersecurity, business ethics including ESG policies, transparency, and general governance practices.
Failup considers sustainability risks’ impact on investment returns. Sustainability risks, like any other risks, could in the worst-case result in a complete loss of an investment. However, Failup has assessed that sustainability risks as such are not likely to have a material negative impact on the returns of the funds it manages in the long term.
KEY INFORMATION DOCUMENT
This section includes the Key Information Document (“KID”) of Failup Fund I Ky drawn up in accordance with the EU Regulation ((EU) 1286/2014) on key information documents for packaged retail and insurance-based investment products (PRIIPs). Please see the link below for the KID currently effective.
Date of publication of the information: 24 June 2024
This document includes information relating to environmental and social characteristics of financial products and information relating to sustainable investments, in accordance with article 10 of the EU Sustainable Finance Disclosure Regulation ((EU) 2019/2088, as amended and supplemented, “SFDR”) and Article 24 of the EU 2022/1288 Regulatory Technical Standards (“RTS”).
Financial product name: Failup Fund I Ky (hereinafter also referred to as the “fund”)
Legal identifier: 3363774-5
The following information is published in compliance with the Finnish Venture Capital Association (FVCA) Transparency & Disclosure Recommendations (Avoimuus- ja läpinäkyvyyssuositukset).
Failup Ventures Management Oy is the alternative investment fund manager (AIFM) of the Failup funds. The firm is owned and led by its partners Jesse Heikkilä, Oscar Andersin, and Topias Soininen. The general partner of Failup Fund I Ky is Failup Fund I GP Oy.
Failup Ventures Management Oy toimii Failup-rahastojen vaihtoehtorahastojen hoitajana. Yhtiön omistavat ja sitä johtavat partnerit Jesse Heikkilä, Oscar Andersin ja Topias Soininen. Failup Fund I Ky:n vastuunalaisena yhtiönä toimii Failup Fund I GP Oy.
Failup Ventures Management Oy was founded in 2022. Failup Fund I Ky held its first close of €30 million in November 2023, with a target size of €50 million. The fund invests in early-stage technology companies across the Nordics and the US.
Failup Ventures Management Oy on perustettu vuonna 2022. Failup Fund I Ky toteutti ensimmäisen sulkemisensa, arvoltaan 30 miljoonaa euroa, marraskuussa 2023 ja sen tavoitekoko on 50 miljoonaa euroa. Rahasto sijoittaa varhaisvaiheen teknologiayrityksiin Pohjoismaissa ja Yhdysvalloissa.
Press contact: press@failup.com
Median yhteyshenkilö: press@failup.com
Fund name: Failup Fund I Ky. Current size: €35 million. Strategy: Pre-seed and seed investments in software-driven startups in the Nordics and the US. Typical ticket: €200k–€1m, with follow-on reserves.
Rahaston nimi: Failup Fund I Ky. Nykyinen koko: 35 miljoonaa euroa. Strategia: Pre-seed- ja siemenvaiheen sijoitukset ohjelmisto- ja teknologia-aloilla Pohjoismaissa ja Yhdysvalloissa. Tyypillinen sijoituskoko: 200 000–1 000 000 euroa, jatkosijoitusvarauksin.
Our investor base consists primarily of institutional investors, family offices, and individuals from Finland, Sweden, and USA.
Sijoittajamme koostuvat pääsääntöisesti institutionaalisista sijoittajista, family officeista ja yksityishenkilöistä Suomesta, Ruotsista ja Yhdysvalloista.
We follow the International Private Equity and Venture Capital Valuation (IPEV) Guidelines for fair value measurement. Valuations are prepared quarterly, and annual financial statements are audited. We report to investors quarterly and annually following Invest Europe reporting standards.
Noudatamme arvonmäärityksessä International Private Equity and Venture Capital Valuation (IPEV) -ohjeistusta. Arvonmääritykset tehdään neljännesvuosittain ja tilinpäätös tarkastetaan vuosittain. Raportoimme sijoittajille kvartaaleittain ja vuosittain Invest Europen raportointistandardien mukaisesti.
Our Responsible Investment Policy and SFDR Article 8 disclosures are publicly available on this page. We integrate ESG principles into our investment decisions and portfolio monitoring.
Vastuullisen sijoittamisen periaatteemme sekä SFDR-artiklan 8 mukaiset tiedot ovat saatavilla tällä sivulla. ESG-periaatteet on sisällytetty sijoituspäätöksiin ja kohdeyhtiöiden seurantaan.
Failup Ventures Management Oy is a registered Alternative Investment Fund Manager under the Finnish AIFM Act (162/2014), supervised by the Finnish Financial Supervisory Authority (FIN-FSA).
Failup Ventures Management Oy on rekisteröity vaihtoehtorahastojen hoitaja (AIFM-laki 162/2014) ja sen toimintaa valvoo Finanssivalvonta (FIN-FSA).
Failup Ventures is a member of Pääomasijoittajat ry (FVCA) and adheres to the FVCA Code of Conduct and Transparency & Disclosure Recommendations.
Failup Ventures on Pääomasijoittajat ry:n (FVCA) jäsen ja noudattaa FVCA:n eettisiä sääntöjä sekä avoimuus- ja läpinäkyvyyssuosituksia.
