Mission alignment made clear.
At Ananda, it’s important to us that we are fully aligned with our founders and their mission. To protect their mission and the development of an impactful company we have set new standards with our Impact Termsheet:
1
The Impact Requirement Clause
Impact is at the core of every investment we make, and we are committed to preserving the mission of each portfolio company’s impact.
The Company will be required to stay within their mission statement. KPIs will need to be set to measure the company’s impact.
Ananda will have the right to sell its shares in case of significant deviation from the Company’s societal mission, subject to right of first refusal by existing shareholders.
Extract from Ananda’s Impact Termsheet
We go the extra mile and link our carried interest not only to financial goals, but also to quantifiable impact achievements of the companies we work with. This model, which we co-developed in 2014 with the European Investment Fund, is called “The Impact Carry Model” and has now been adopted by over 80 other funds globally, ensuring that the financial incentives of hundreds of VCs directly align with impact-related priorities.
We only begin to see our carry if at least 60% of the impact target values across our portfolio are reached. Above 60% the carry scales in line with the percentage of the target values reached. Above 80%, we potentially see 100% of the carry, but only if the financial return is also right.
2
Diversity and inclusion clause
Our portfolio companies are encouraged to become category leaders in team diversity.
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2. Diversity, Equity and Inclusion
The Company strives to create and maintain a diverse team, especially at the leadership level. One that’s inclusive across gender, ethnicity, age, sexual orientation, disabilities, socio-economic background and national origins.
Extract from Ananda’s Impact Termsheet
At Ananda we have always believed that true creativity and resilience stems from diversity. We are proud to have received the highest standard accreditation from Diversity VC and to see 47% of our founding teams being diverse in gender, ethnicity and disability.
diverse founding teams in our portfolio (gender, ethnicity, disability)
diversity within the Ananda team (gender, ethnicity, disability)
3
The Founders' Health Clause
At Ananda, our Founders’ Health programme is a top priority. In fact, back in 2018, we launched our Founders’ Health Initiative to prioritise the well-being of the entrepreneurs we work with. As part of this initiative, we incorporated a Founders’ Health Clause into all of our termsheets when investing in a company.
In 2023, we introduced an updated version of the Initiative—our Founders’ Health Programme—to provide even more holistic and structured support for our portfolio founders.
The Founders’ physical and mental health is vital for the success of the Company. Founders work in a highly dynamic environment, and it is part of building a company that things can go wrong, and founders can struggle. The Investors are aware of this and want to support founders as well as they can. The topic of Founder Health shall be discussed on a regular basis on Board level.
Founders are encouraged to use offers like peer-group support, leadership/team coaching, development programs, etc. They are strongly encouraged to work with an external independent coach, both individually as well as with the Founder / C-level team; this coach should be a go-to person not only to discuss business matters, but more importantly in case of personal issues.
Founders are requested to make use of this support at the cost of the company and at any time, especially also in tough times.
Extract from Ananda’s Impact Termsheet
The Founders Health programme includes various components, such as coaching, workshops, peer support, and a comprehensive resource library. Our programme is continuously evolving to ensure we offer the right support for the personal and professional growth of the entrepreneurs we work with.
The Ananda Founder’s Hike in October 2023. We hiked along the scenic Prinzenweg trail, ascending approximately 700 altimeters from the valley. Surrounded by breathtaking views, we held meaningful sessions on resilience and guided breathwork, making it a truly enriching experience.
4
Environmental clause
Our portfolio companies are committed to reducing their environmental footprint by acting responsibly.
Post-closing, the management commits to building on its existing ESG policy or, if none exists, to evaluating and establishing best practices of its business activities regarding environment, society and governance (ESG), in particular:
1. Environmental Footprint
Adopting an environmental policy as soon as feasible but no later than within 12 months (if not already implemented), measuring the environmental footprint of the business activities within the company and setting appropriate action steps to reduce it.
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Such policy and measures will be reviewed regularly and updated through the Company’s management and the Board.
Extract from Ananda’s Impact Termsheet
Since becoming Article 9, we have strengthened and formalised our approach to ESG by launching a project to streamline data collection and reporting. We have also gone a step further by introducing selected ESG KPIs that we consider particularly relevant for early-stage start-ups to understand and enhance their sustainability performance.
Bernd Klosterkemper
Partner
Ananda Impact Ventures
With 100% of our founders signing the Impact Termsheet, we ensure impact remains the foundation of everything we create together—a powerful, shared commitment to shaping a better future.