Sustainability-related disclosures.
Website Disclosures

Publication date:            27/06/2025

Publication version:      Version 1.0

Publication URL:   https://www.55n.vc/english-privacy-policy

1. BASIC INFORMATION
1.1 Integration of sustainability risks in the investment decision-making process (art. 3(1))

55 North Management ApS, CVR-no. 45505235 (“Fund Manager”) manages the alternative investment fund 55 North Fund I K/S, CVR-no. 45557960 (the “Fund”).

Awareness of sustainability risks is built into all of the Fund Manager’s key processes, from screening and due diligence of potential target companies to portfolio governance and monitoring of portfolio companies and shall always comply with the Fund’s ESG and investment policy. Thus, the awareness and integration of sustainability risks are firmly integrated in the Fund Manager’s investment decision and the processes in relation hereto. 

The Fund Manager has looked at the sustainability risks likely to have a negative impact on the returns of the Fund. 

To ensure that such risks are sufficiently reduced, the Fund Manager will perform an initial screening before entering into a term sheet to make sure that the investment opportunity does not engage with any of the following categories:

  • Activities being illegal in the jurisdiction where such activities take place;

  • activities or persons (physical or legal) that are subject to or is managed or otherwise affiliated with Persons that are subject to restrictive measures (sanctions) imposed by the United Nations, the European Union or Denmark from time to time;

  • the manufacture, sale or distribution of cigarettes, cigars, tobacco, paper used by end consumers for rolling cigarettes, filters and snuff tobacco, E-cigarettes and/or nicotine products and any other products categorized as tobacco by the relevant authorities; 

  • the cloning of human beings for reproductive purposes;

  • the manufacture, production, sale and/or storage of UN defined unconventional weapons and/or controversial weapons, (including but not limited to cluster weapons, biological weapons, anti-personnel mines, biological weapons, chemical weapons, cluster munitions, depleted uranium, white phosphorus, and nuclear weapons in breach of the Treaty of the Non-Proliferation of Nuclear Weapons);

  • activities which can be considered as pornography, adult entertainment or which can be associated with prostitution;

  • fishing activities and/or fishing gear such as bottom trawling, beam trawling, spinning rods and dredges etc., which levels out the sea floor, disrupts the biodiversity and risks bycatching other species; 

  • activities within fossil raw materials including fossil fueled power plants as well as activities which have drilling, investigations, extractions, refining and sale of crude oil, natural gas and thermal coal or storage of fossil fuels and the underlying infrastructure (pipelines etc.) as its purpose;

  • activities within the fossil fuel-based energy sector, including (i) the development, ownership, or operation of fossil-fuelled power plants, (ii) the exploration, drilling, extraction, refining, or sale of crude oil, natural gas, or thermal coal and/or (iii) the storage, development, or operation of supporting infrastructure, including to pipelines, transportation, logistics, or services primarily dedicated to fossil fuel-related activities;

  • the exploration and production of fossil fuels including oil and gas, thermal coal, artic oil, shale energy and oil sands);

  • gambling (including the operation of casinos, lotteries, bookmaking and online gambling);

  • the production of cannabis for recreational use (including the cultivation of cannabis or the development of cannabis products);

  • the operation of predatory lending practices (meaning lending practices that are in violation of local laws and involve exploitive lending practices using high interest rates and/or other unfavorable terms to borrowers; and/or

  • the production of palm oil.

If the business activity falls within any of the categories above, the Fund Manager will abstain from moving further with the investment opportunity.

1.1 Integration of sustainability risks in the investment decision-making process (art. 3(1))

55 North Management ApS, CVR-no. 45505235 (“Fund Manager”) manages the alternative investment fund 55 North Fund I K/S, CVR-no. 45557960 (the “Fund”).

Awareness of sustainability risks is built into all of the Fund Manager’s key processes, from screening and due diligence of potential target companies to portfolio governance and monitoring of portfolio companies and shall always comply with the Fund’s ESG and investment policy. Thus, the awareness and integration of sustainability risks are firmly integrated in the Fund Manager’s investment decision and the processes in relation hereto. 

The Fund Manager has looked at the sustainability risks likely to have a negative impact on the returns of the Fund. 

To ensure that such risks are sufficiently reduced, the Fund Manager will perform an initial screening before entering into a term sheet to make sure that the investment opportunity does not engage with any of the following categories:

  • Activities being illegal in the jurisdiction where such activities take place;

  • activities or persons (physical or legal) that are subject to or is managed or otherwise affiliated with Persons that are subject to restrictive measures (sanctions) imposed by the United Nations, the European Union or Denmark from time to time;

  • the manufacture, sale or distribution of cigarettes, cigars, tobacco, paper used by end consumers for rolling cigarettes, filters and snuff tobacco, E-cigarettes and/or nicotine products and any other products categorized as tobacco by the relevant authorities; 

  • the cloning of human beings for reproductive purposes;

  • the manufacture, production, sale and/or storage of UN defined unconventional weapons and/or controversial weapons, (including but not limited to cluster weapons, biological weapons, anti-personnel mines, biological weapons, chemical weapons, cluster munitions, depleted uranium, white phosphorus, and nuclear weapons in breach of the Treaty of the Non-Proliferation of Nuclear Weapons);

  • activities which can be considered as pornography, adult entertainment or which can be associated with prostitution;

  • fishing activities and/or fishing gear such as bottom trawling, beam trawling, spinning rods and dredges etc., which levels out the sea floor, disrupts the biodiversity and risks bycatching other species; 

  • activities within fossil raw materials including fossil fueled power plants as well as activities which have drilling, investigations, extractions, refining and sale of crude oil, natural gas and thermal coal or storage of fossil fuels and the underlying infrastructure (pipelines etc.) as its purpose;

  • activities within the fossil fuel-based energy sector, including (i) the development, ownership, or operation of fossil-fuelled power plants, (ii) the exploration, drilling, extraction, refining, or sale of crude oil, natural gas, or thermal coal and/or (iii) the storage, development, or operation of supporting infrastructure, including to pipelines, transportation, logistics, or services primarily dedicated to fossil fuel-related activities;

  • the exploration and production of fossil fuels including oil and gas, thermal coal, artic oil, shale energy and oil sands);

  • gambling (including the operation of casinos, lotteries, bookmaking and online gambling);

  • the production of cannabis for recreational use (including the cultivation of cannabis or the development of cannabis products);

  • the operation of predatory lending practices (meaning lending practices that are in violation of local laws and involve exploitive lending practices using high interest rates and/or other unfavorable terms to borrowers; and/or

  • the production of palm oil.

If the business activity falls within any of the categories above, the Fund Manager will abstain from moving further with the investment opportunity.

If the business activity does not fall within any of the categories, the Fund Manager will proceed its due diligence after signing the term sheet to screen and identify any additional, potential sustainability risks which due to the Fund’s investment scope typically cover:​

During the investment phase, the Fund Manager leverages the due diligence findings to ensure that the relevant sustainability risks are identified, assessed, and appropriately addressed in the investment memo that forms the basis of the investment decision and, if the decision to invest is made, the legal documentation pertaining to the investment. This includes obligating the portfolio company to regularly report on sustainability risks and how they are mitigated.

Following the investment and throughout the holding period, the Fund Manager maintains an ongoing process to evaluate, mitigate, and report on sustainability risks. Relevant information will thus be collected from the portfolio company through a structured reporting process. This ensures that the most material sustainability risks relevant to the Fund are continuously identified and managed. The process is implemented and overseen by the Managing Partners of the Fund Manager.

In addition, the Fund Manager ensures that the portfolio company actively engages with the identified sustainability risks post-investment. Where the Fund Manager holds significant influence over the portfolio company’s structure and governance, it exercises that influence —particularly at the board level — to support effective management and oversight of these risks.

Based on the above, the Fund Manager deems the sustainability risks’ negative impact on the returns of the Fund to be low

1.2 Remuneration policies (art. 5)

The Fund Manager does not have a remuneration policy, and Fund Manager’s remuneration structures are not linked to the integration of sustainability risks. Thus, they are not structured to the effect that they encourage excessive risk taking with respect to sustainability risks.

NO CONSIDERATION OF ADVERSE IMPACTS OF INVESTMENT DECISIONS ON SUSTAINABILITY FACTORS

Publication date:  27/06/2025

Publication version:  Version 1.0 Publication

URL: https://www.55n.vc/english-privacy-policy

Fund Manager: 55 North Management ApS, CVR-no. 45505235

Fund: 55 North Fund I K/S, CVR-no. 45557960

The Fund Manager does not consider any adverse impacts of its investment decisions on sustainability factors and, hence, does not use the indicators listed in Annex 1 of the Commission’s delegated regulation (EU) 2022/1288 of 6 April 2022 supplementing Regulation (EU) 2019/2088 (the ”SFDR”) in its investment decisions, as these currently include metrics that the Fund Manager does not consider to be applicable to the early-stage investments undertaken by the Fund. The Fund Manager will on a continuous basis assess this approach. If and to the extent this should change to the effect that the indicators become more practicable to use in early-stage investments, the Fund Manager will re-evaluate whether to consider the principal adverse impacts set out in Table 1-3 of Annex 1 of its investment decisions in due course.