Climentum: Operationalising Article 9 impact investing

Type: Fund strategy
Timeline: Since 2023 (ongoing)

About Climentum: Climentum is a European climate-tech venture fund investing in early-stage companies with the potential to deliver substantial, measurable emissions reductions. Structured as an Article 9 impact fund under SFDR, Climentum combines rigorous sustainability ambition with hands-on support to help founders scale solutions that drive real climate impact.

Our work: Since 2023, Raison has worked with Climentum to design an impact framework that meets Article 9 SFDR requirements while remaining practical and proportionate for early-stage start-ups. Raison continues to support Climentum on its impact journey through ongoing advisory at the GP level, impact due diligence support for new transactions and ongoing advisory on recent developments within the impact investment space.

Our contribution:

Helped develop Climentum’s impact management framework and documentation through Article 9-aligned investment policies, Do-no-significant-harm thresholds, good governance procedures and SFDR disclosures (see here)
Supported Climentum in designing a pragmatic impact due diligence framework tailored to start-up companies while meeting SFDR requirements to impact funds
Provided impact due diligence support on +12 prospective transactions

“

In the process of designing our fund, Raison was instrumental in helping us figure out how to make Article 9 operational, balancing pragmatism and compliance with the spirit of SFDR. We now work with Raison on all our impact due diligence projects – they are quick to get on the ball and work independently, while understanding and respecting the need to control time spend. As I see more and more funds operating in this space, it is clear to me that Raison Consulting is absolutely best-in-class.”

Stefan Maard

Partner, Climentum Capital