Last updated: February 2022
Diversity, Equality & Inclusion Policy
At Creandum we believe in equality. We believe in equal rights and opportunities for all people regardless of social identity such as gender, race, ethnic origin, nationality, and sexual orientation. Creandum is an equal partnership and we believe all people shall be paid equal pay for equal work. Investment advice, internal advancements, and opportunities are awarded to anyone solely based on merits such as competence, relevant experience, and performance.
We do not tolerate discrimination against anyone based on non-work-related personal characteristics.
We consider diversity, equality and inclusion (“DE&I”) business critical, not a compliance necessity and we believe by embracing DE&I we will build a better and more successful franchise. Hence, everyone at Creandum is responsible for DE&I and is committed to:
- Enhancing their awareness of unconscious bias and how that might hinder them to be more inclusive and collaborative.
- Respecting the dignity and diversity of all people inside and outside the organization.
- Creating a work environment that is free from discrimination, harassment, derogatory attitudes and bullying.
- Actively stand up and take actions against any behavior witnessed, inside or outside the organization, which goes against the fundamental DE&I values of our firm.
- Putting a dedicated extra effort in making diverse talent inside and outside the organization successful.
Anyone who believes that they or another individual has been subjected to conduct which is not aligned with this policy should report this to Creandum’s ombudsman or the person’s mentor. Any such allegations shall be taken seriously and all reported incidents will be investigated in an effort to keep the source of the report confidential.
In addition to the above policy on overall equality and inclusion, Creandum is currently focusing our DE&I efforts on selected actions that target specifically the representation of gender and ethnic origin. These DE&I initiatives span across our own Creandum organization, the fund’s portfolio and investment activities, and finally, the broader entrepreneurial ecosystem considering the influence Creandum has in the market.
The Creandum Organization
In all hiring processes at Creandum, we commit to building a candidate pipeline which at the final round should include at least 50% of candidates who are of underrepresented gender or ethnic origin.
All mentors are committed to inclusive leadership which means:
- We treat everyone with fairness and respect.
- We appreciate everyone’s uniqueness.
- We do our utmost to provide resources and support for everyone to achieve their full potential.
- We use gender-neutral language.
We measure inclusion across gender and ethnic origin twice per year.
Creandum employees are encouraged to combine parenthood and work and the firm understands and supports the practical implications of this with for example flexible work hours. We also believe parenthood should be distributed equally regardless of gender, and hence gives everyone across all our offices up to 9 months of 100% paid parental leave regardless of local state-funded leave.
At least every 2nd year conduct unconscious bias training across the entire team.
When the firm acquires services, such as for example legal, banking, or recruiting, we ask such providers to staff our project with diverse team members across gender and/or ethnic origins.
Creandum’s Investment Advisory Activities
In our internal documentation for every investment recommendation, we include a dedicated section on the topic of what the company is doing and they’re thinking about DE&I.
In our term sheet, we have a specific clause stating the company’s commitment to DE&I as well as broader ESG.
When the fund is leading a round, we do our utmost to involve and invite angel investors of diverse backgrounds.
Proactively support and help portfolio companies improve their DE&I with practical tools and best practices.
For any follow on investment recommendation, the company must prove progress and actions related to DE&I.
Once a year we survey the entire portfolio on gender diversity across their team and externally publish the results.
Once a year we measure gender distribution in the top end of the deal flow funnel.
Entrepreneurial Ecosystem Development
- Maintain and promote Creandum’s DE&I knowledge bank.
- For any event hosted by Creandum, ensure participation with representation of all genders and people of different ethnic origins.
- In all visual external communications (e.g. website, job descriptions), help build non-obvious role models by highlighting women and people of different ethnic origins.
- Whenever invited to speak at an event where diversity is missing, offer up Creandum’s seat on stage to females and people of underrepresented ethnic origins.
These targets were set in Q4 2021 with the purpose of driving our DE&I efforts forward in a tangible and measurable way, and to force us out of our conscious and unconscious biases.
- A balanced team: Within 2 fund cycles (CVI + CVII) the Creandum organization will have a gender split of 40/60 across 3 organizational dimensions
- “check writers” (Principals + Partners + General Partners)
- the whole investment team
- the Creandum organization as a whole.
- Team inclusion: By the end of 2023 there will be no differences in perceived inclusion and job satisfaction within the Creandum team, as measured twice per year, between genders and people of underrepresented groups.
- Capital allocation: At least 25% of new companies invested into by each Creandum fund shall be in gender-diverse teams. To be considered a gender-diverse team, one of the founders or the CEO should identify as female.