Diversity, Equity and Inclusion

Introduction

This policy sets out Atomico’s approach to Diversity, Equity and Inclusion ("DEI") and how we have incorporated DEI within our investment activities and our business operations. Below we have set out the principles that the firm follows and the processes we have implemented in order to deliver on our DEI objectives. All Atomico staff are required to adhere to this policy.


Our 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 our operations

  • 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 candidates 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 The Ladder Group 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. 

  • Promoting 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 and anonymous diversity survey so we can track and monitor the progress of our initiatives. The survey includes questions relating to age, perceived gender, ethnicity, sexual orientation (LGBTQ+), disability and socioeconomic background (including education). We aim for a culture that is open and inclusive by surveying our employees on inclusion to gather and learn from their feedback. We run regular engagement surveys to help us identify areas for improvement, and act on change.  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 Conscious Scaling Sustainability report which is publicly available on our website. Atomico also collaborates with its limited partners on DEI through side letters.

DEI within our investment activities

  • 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

  • Atomico has made a commitment to not provide follow-on funding to any company which proves non-compliant with these clauses.

  • 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. 

  • Portfolio DEI engagement target: Atomico has set a target for DEI engagement within our portfolio related to the adoption of a DEI policy. We publish our progress towards this target annually in our Conscious Scaling sustainability report. 

  • 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. 

Approval

This policy is updated at least once per annum and has been approved by the firm’s Management Committee.