GROW
STRONGER

Voland Partners is an Alternative Investment Fund Manager (AIFM) registered by Finnish Financial Supervisory Authority (FIN-FSA) (Finanssivalvonta). Our funds are Alternative Investment Funds (AIF), and we adhere to the rules and regulations governing the management of Alternative Investment Funds, as defined in the Finnish AIFM Act (laki vaihtoehtorahastojen hoitajista 162/2014).

Voland Partners is a member of the Finnish Venture Capital Association (FVCA). We are involved in the activities of FVCA to promote the development of the venture capital industry and promote cooperation;  specifically in the ESG and sustainable finance working groups of the association. We are compliant with the transparency Rules and Guidelines of the association and want to promote responsibility throughout the industry.

We follow Invest Europe’s Investor Reporting Guidelines in our investor reporting. The valuation of the portfolio is done in accordance with the International Private Equity and Venture Capital Valuation (IPEV) Guidelines.

Responsibility is in Voland’s DNA. We believe that  integrating ESG into growth company strategy is an imperative for technology companies to flourish in the future. In addition to ESG risk identification and mitigation, it is essential to identify business opportunities based on ESG development.

We obey our comprehensive Responsible Investment Policy that is based on our values, compliant with the UN PRI, mapped against the UN SGD’s, and reflects our compliance with the SFDR Article 8. It covers the whole lifecycle of how we work both internally and with our portfolio companies, starting from initial discussions, the collaboration assessment, planning  and due diligence, and finally to the value creation as co-entrepreneurs aiming at common exits. It also describes how we report to the relevant stakeholders.

Should you be interested in learning more about our Responsible Investment Policy, please contact Veera Sylvius, Managing Partner,+358400658589. 

• real estate, directly or indirectly through companies the primary business of which is to own real estate.
• invest in any other investment vehicle in relation to which management fee or “carried interest” (or similar performance-based fee) is payable, provided that the Partnership may invest its cash funds in money-market instrument make an investment in derivatives or engage in ‘short sales’ or financial hedging purely for speculative purposes.
• invest in any company which substantially focuses on:
  • the production of and trade in tobacco and related products.
  • the financing of the production of and/or trade in weapons.
  • ammunition of any kind, it being understood that this restriction does not apply to the extent such activities are part of or accessory explicit European Union policies.
  • casinos and equivalent enterprises.
  • the research, development or technical applications relating to electronic data programs or solutions, which aim specifically at supporting any activity referred to under items above.
  • internet gambling and online casinos.
  • pornography.
  • businesses that intend to enable to illegally enter into electronic data networks or download electronic data.
  • any industry, whose business conduct is in any way based on exploitative behavior, illegal activities, forced labor, or banned or sanctioned products.

The Voland Technology Growth Fund I is an ’Article 8’ fund under the Sustainable Finance Disclosure Regulation (“SFDR”). The fund promotes environmental or social characteristics but does not have as its objective a sustainable investment.

The way we promote environmental or social characteristics is by

• Assessing sustainability risks throughout the investment process
• Following and improving general sustainability indicators, applicable to each portfolio company
• Following and improving specific sustainability indicators, selected by a company-specific materiality assessment, as part of our value creation framework
• Taking into account the specific PAI (Principal Adverse Indicator) indicators as set out in the RTS (ESA Final Report on Product Disclosures (RTS)

The Sustainability indicators measure how the environmental or social characteristics promoted by the fund are attained.

The common indicators are:
o Environmental: Carbon Footprint
o Social: Employee well-being and satisfaction
o Governance:

• age, gender, minorities and educational diversity of the board
• female and minority participation in management/director level positions
• age, gender, minorities, disabilities and educational diversity of the management group
• maturity of management structure and processes
• measurement of employee satisfaction and other relevant well-being measures
• board and management group level review of strategic and ESG programs
• anti-bribery and corruption
• internal audits
• board and management group self -assessments
• internal and external ESG reporting

The specific indicators are found as a result of a materiality analysis: we follow our integrated ESG approach, that is embedded in the Value Creation Framework, together with the strategic programs that identify the material development programs for each company.

Should you be interested in learning more about our Sustainable Finance Compliance, please  contact Veera Sylvius, Managing Partner,+358 400 658 589.

The Voland Technology Growth Fund I takes into account the PAI indicators as set out in Article 8 of the RTS (Regulatory Technical Standards) before the investment decision and during the investment period in the following manner:

Before Investment, as part of the Due Diligence:

• A thorough ESG Due Diligence is conducted, containing the PAI indicators as well as other relevant parameters drawn from e.g. TCFD and SASB and other relevant frameworks

Where a specific indicator is in an unacceptable level to an extent that is considered a sustainability risk, and actions cannot be taken to remedy the situation, the investment process in halted.

Where a specific indicator is in an unacceptable level to an extent that is considered a sustainability risk, and actions can be taken to mitigate the risk, plans are made in order to reach the acceptable level in a defined time period, and the investment process is not halted.

Where a specific indicator is considered to be material in the materiality assessment, and there are possibilities to improve it, plans are made to improve it, as part of the Value Creation Plan of the investment process, and the investment process is not halted.

When investment is made, in the yearly reporting:

• The PAI indicators are measured according to the Article 8 of the RTS
• A historical comparison of the indicators from past periods is made
• Plans are made on how to improve the PAI’s whose progress is not favorable. The plans will include:
  • specific, numeric targets
  • schedule
  • a nominated director responsible of reaching the specific target
• The results are gathered in the portfolio level to indicate the overall impact of the Fund

Download our responsibility report and read more on our responsible conduct here.

When assessing the sustainability risks Voland applies the legal definition of sustainability risk included in the EU Sustainable Finance Disclosure Regulation (SFDR):

‘Sustainability risk’ means an environmental, social or governance event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of the investment.

The definition has two core elements (1) an event/condition from the broad ESG spectrum that (2) could cause a material negative impact on the value of the portfolio. This means that Voland is expected to identify relevant ESG risks and subsequently determine which of them are material in the short, medium and long term with regard to its investment strategies.

The concept of double materiality means, that whereas the investments may have negative effects to the society of environment (Principal Adverse Impacts), the Sustainability Risks impact the investment per se.

Sustainability risks can be related to environmental, social and governance practices. Voland uses various proprietary and external tools to identify and evaluate sustainability factors and related risks. Our Investment due diligence and risk management and value creation frameworks identify and evaluate material risks.

The management of sustainability risks is integrated in our processes and are shortly described in inn our specific Responsible Investment Policy.

Impacts of sustainability risks on the returns

Sustainability factors - such as environmental, social and employee matters, respect for human rights, anti-corruption, and anti-bribery matters - may have a positive or negative impact on the financial performance of our investments.

Assessment of negative Impacts is made together with the risk assessment

• Should the risk assessment reveal material risks, that we anticipate hard to mitigate, the investment process is halted. In general, no financial impact will be accepted in any investment.
• Should we identify risks, that have financial impacts, but can be remedied, plans are made to reach the acceptable level in a defined time period, and the investment process is not halted.

Assessment of positive impact is essentially a result of the materiality analysis. ESG factor can increase cash-flows in several ways, as described in our Responsible Investment Policy.

Voland Partners was founded in 2021 and is fully owned by its partners.

Voland Technology Growth Fund I, size €56.8M, 2022 vintage.

The investors of the Voland Technology Growth Fund I are Finnish institutional and private  investors. The list includes institutions like TESI, Keskinäinen työeläkevakuutusyhtiö Elo,  Valion eläkekassa, OP-Henkivakuutus Oy, Teknologiateollisuuden 100 -vuotissäätiö, Suomalainen Lääkäriseura Duodecim, and Konstsamfundet Ventures, as well as family offices like Stephen Industries Oy, Brade Oy and Novametor Oy. Furthermore, a number of successful technology  entrepreneurs like Michael Falck (Relex Solutions), Timur Kärki (Gofore),  and Antti Pelkonen (Bitfactor)  have joined Voland as investors.

Veera Sylvius, Managing Partner

tel. +358 400 658 589

veera.sylvius@voland.fi