VEF

Our sustainability strategy centers around our investment thesis: we invest in companies that positively transform their local markets. By investing in companies that are addressing challenges like financial exclusion and inequality or support the green transition, we present a compelling growth investment case that also contributes to strengthening local communities in our markets.

In 2023, we proved our ability to invest in impact-driven companies, by successfully allocating SEK 500 mln to portfolio companies under the Sustainability Bond Framework. Additionally, we placed a second sustainability bond (effectively refinancing our first bond), further demonstrating our commitment to advancing a sustainability agenda focused on responsible and impactful investing.

Helena Caan Mattsson, Head of Sustainability, comments:
“In the past year, we have delivered on our sustainability agenda on multiple fronts. We have fully allocated SEK 500 mln of proceeds from our first sustainability bond and successfully launched a second sustainability bond. I am pleased to see that our portfolio companies have committed to our ESG and Responsible Finance Principles, with almost all companies signing on in the year. On the home front, the VEF board reached gender parity this year.”

Throughout 2023, we have supported our portfolio companies as they navigate their sustainability journeys and bolster their governance practices. Within our markets, we recognize that adherence to solid and good business ethics is fundamental for scalability, and as active shareholders, we play an important role in ensuring this for our companies. Our ever-present mantra is, “if it’s not ethical, it’s not scalable”. Notably, nearly all of our portfolio companies have signed our own ESG Principles and Responsible Finance Principles. This collective commitment from our companies has established a shared foundation that support scalability for our portfolio at large.

Key highlights from the year

• 74% of portfolio value in impactful companies contributing meaningfully to one or more of the UN SDGs.
• SEK 500 mln allocated to impactful portfolio companies under the Sustainability Bond Framework.
• 93% of portfolio companies have committed to VEF ESG Principles and VEF Responsible Finance Principles.
• SEK 500 mln issued in a second sustainability bond.
• 50/50 gender split on the VEF Board.

You can find our Sustainability Report for 2023 below and on our website, www.vef.vc.