Diversity, Equity and Inclusion

Introduction

This policy sets out Atomico’s approach to Diversity, Equity and Inclusion (DEI) and how we incorporate DEI into our business operations, our investment activities and our portfolio. We set out the principles that the firm follows and the procedures we have implemented in order to deliver on our Diversity, Equity and Inclusion objectives. 

This policy covers Atomico funds, portfolio, investments and Atomico operations. All Atomico staff are required to adhere to this policy.


Atomico’s Approach to Diversity, Equity and Inclusion

When we consider DEI at Atomico we think about it both in terms of our team, and of the founders and companies we partner with - both directly through our core investments or indirectly through our ecosystem initiatives.

DEI within Atomico’s Operations

Starting with our firm - Atomico is an equal-opportunity firm with diversity hiring targets, retention plans, an inclusive culture, open sharing of information, transparent decision making and an accessible environment for all. 

Our firm, from top to bottom, is fully aligned behind the following measures:

  • Diversity in our recruitment: Atomico has established targets to ensure that the firm’s hiring pipeline is adequately designed to encourage the hiring and retention of underrepresented groups within the venture capital industry. We also have concrete internal goals relating to the diversity of who we ultimately hire. We partner with organisations including SEO London and Diversity VC to source diverse candidates for our internship programmes. We have also broadened our sourcing methods beyond the more traditional agency route, in an effort to generate a more diverse pipeline of candidates. 

  • Diversity, equity and inclusion in the workplace: Our aim is to attract, motivate, develop and retain a diverse and talented group of people while also providing a working environment that promotes both inclusion and equity. We have an inclusive culture and practice open sharing of information, transparent decision making and provide an accessible environment for all. We provide DEI training in the onboarding of all our new joiners. 

  • Tracking our progress: We ask our employees annually to complete an optional Diversity survey so we can track and monitor the progress of our initiatives. The survey includes questions relating to perceived gender, ethnicity, sexual orientation (LGBTQ+), disability and socioeconomic background (including education). We run regular engagement surveys to help us identify areas for improvement, and act on change. We aim for a culture that is open and inclusive by surveying our employees on inclusion to gather and learn from their feedback. We also track and proactively manage our gender pay gap. 

  • Inclusive benefits for all: We have a set of best-in-class benefits to support new parents on our team, including equal maternity, paternity and adoption leave, flexible working policies and emergency childcare. We also provide access to private health care and dental care that is extendable to spouses and co-dependents.

  • Engaging with our limited partners: Atomico proactively includes DEI information in our quarterly reports and provides updates on DEI issues and programmes at our annual Investor Summit and at our advisory board meetings. Our employees' right to privacy is of utmost importance to us so we only report externally on metrics relating to gender and ethnicity. Atomico annually reports on the progress of its DEI initiatives through its Annual Sustainability report which is publicly available on our website. Furthermore, Atomico collaborates with its limited partners on DEI through side letters.

  • Championing DEI within the wider ecosystem: We partner with community organisations supporting diversity, equity and inclusion. These activities include:

    • As active Diversity VC members, we have adopted the Diversity VC standard

    • Sponsoring Level20, a not for profit organisation dedicated to improving gender diversity in the European finance industry, to provide mentors and mentees with the aim of promoting diversity within the VC industry

    • Partnering with SEO Alternative Investment to create an internship programme focussed on minorities

DEI within Atomico’s Investments

As a firm of less than 100 employees, we are aware that our internal initiatives will only go so far. The biggest impact a VC can have is where it invests its money and how it supports and encourages those companies to implement their own diversity, equity and inclusion initiatives. We at Atomico know we will only deliver sustainable, systemic change for our business and the ecosystem by focusing on how we source our investments, what we invest in and the support we offer to those in our portfolio and beyond. 

We also recognise the need to support our ecosystem earlier in the process to build the right conditions for more underrepresented founders to get to Seed and Series A where Atomico can invest. That means helping to break down some of the barriers which exist and creating new networks. 

On the portfolio side, we are fully aligned behind the following measures: 

  • Diversity of our pipeline and portfolio: Atomico aims to find and invest in the best and most ambitious founders from a diverse set of demographics, backgrounds, and experiences to maximise fund performance. Atomico’s evaluation process is impartial and structurally designed to ensure we evaluate opportunities from a diverse perspective and identify biases and blind spots. We have set out goals to increase diversity within our sourcing funnel and overall investments.  

  • DEI term sheet clauses: We have specific DEI related term sheet clauses for all investments where we lead the round. The term sheet clauses cover;

    • Ensuring a DEI policy within 3 months post-close

    • Implementing a DEI strategy within 6 months post-close

  • Consciously scaling DEI within our portfolio: Atomico actively supports portfolio companies to be leaders in building diverse teams and inclusive cultures. We engage and support all of our portfolio companies on diversity, equity and inclusion through our Conscious Scaling programme. Our Conscious Scaling roadmap helps companies understand when they should start measuring diversity or tracking their gender pay gap. We also published a free diversity, equity and inclusion Guidebook for founders, in collaboration with Diversity VC, which offers case studies, resources and other materials.

  • Supporting investment initiatives within the ecosystem: Atomico engages and supports underrepresented individuals, organisations and investors in the European technology community that focus particularly on discovering the best underrepresented founder talent and supporting them to reach Series A stage, where Atomico can invest directly.

    • We continue to develop our Angel Programme, which supports a new, diverse generation of European founders, operators, community builders and sector experts by giving them the capital and mentorship to enable their first experience investing as angels. Many of our angel programme participants are active proponents of diversity in the ecosystem.

    • We have made a number of LP commitments into funds at the seed and pre-seed ‘first money in’ stage targeting underrepresented founders including Ada Ventures, Black Seed Ventures, Backstage Capital, January Ventures, and Zinc; and will continue to make more investments of this kind as more of these funds emerge. 

    • We are signatories to the Investing in Women Code

    • We have partnered with Out Investors, a global network for LGBT+ investment professionals

Approval

This policy has been approved by the firm’s Management Committee.