Fund structure

The IK VIII Fund, like previous IK Funds, is based on an English Limited Partnership structure. The partnerships are administered and managed by their respective General Partners (GP), which are Jersey limited companies, regulated by the JFSC. The GP, which takes all investment and divestment decisions, is responsible for day-to-day management of the fund's activities including regular reporting to the investors. Each GP has entered into an Advisory Agreement with IK Investment Partners Limited under which agreement IK Investment Partners Limited provides advisory services in relation to potential transactions. IK Investment Partners Norden AB, IK Investment Partners GmbH and IK Investment Partners SAS are all sub-advisors to IK Investment Partners Limited for potential transactions in their respective markets. IK Investment Partners Limited is authorised and regulated by the Financial Conduct Authority (FCA) in London. The advisory companies are jointly owned by the Partners.

Guidelines for reporting

The GPs report to the IK Fund investors in accordance with the International Private Equity and Venture Capital (IPEV) Investor Reporting Guidelines as incorporated in the European Private Equity & Venture Capital Association (EVCA) Handbook . These reporting guidelines also incorporate the IPEVValuation Guidelines as further endorsed globally by all the major industry associations including the EVCA, the British Venture Capital Association (BVCA) and Association Française des Investisseurs en Capital (AFIC). This means that IK Funds hold their portfolio companies at the estimated fair market value, as calculated in accordance with these guidelines, in their reporting to the investors.   

Conflicts of interests

IK is aware that conflicts of interest could potentially arise between investors in the different IK Funds, the firm itself, the portfolio companies etc., when investing, divesting and otherwise. Robust standards and processes have been put in place to ensure that all relevant circumstances have been carefully considered before decisions are made and that any potential conflict of interest has been identified and dealt with in a prudent manner to ensure fair treatment of all concerned. IK has a long tradition of working together with its established Advisory Committee comprising representatives of the investors and other relevant persons. The Advisory Committee meets periodically to review investment strategy and performance, review valuations and advise upon any potential conflicts of interest. The Advisory Committee thereby plays an important role, providing a forum where sensitive matters can be referred and discussed in order to ensure a high level of integrity in the decision process. Our internal policies are codified and documented in our Conflict of Interest Policy.

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