Our Sustainability & ESG Philosophy

At Aurora Growth Capital (AGC), we are committed to integrating Environmental, Social, and Governance (ESG) factors across all stages of our investment process. We believe that these factors are essential drivers of long-term value and risk management. Our approach is based on the belief that responsible investment is key to enhancing performance and fostering sustainable growth.
Since our inception in 2017 until 2025, AGC was part of the Neuberger Berman Group (NB). Under NB’s guidance, the investment team of AGC’s investment strategy and the ESG Team have acquired, over the years, skills and knowledge in sustainability and ESG principles with a solid commitment to financial performance and responsible investing.
Aurora Growth Capital Sustainability & ESG strategy encompasses a disciplined integration of ESG considerations throughout the investment lifecycle, from sourcing to exit. We focus on aligning our investments with sustainable practices, aiming to drive positive changes and create value for all stakeholders. We believe we have both the opportunity and the responsibility to advance our ESG efforts and foster best practices across the business community through active ownership.

Aurora Growth Capital: an investment strategy managed by Renaissance AIFM

Aurora Growth Capital is a private equity investment strategy managed by Renaissance AIFM S.à r.l (the “AIFM”), a Luxembourg based investment manager regulated by the Commission de Surveillance du Secteur Financier (CSSF). The AIFM recognizes that integrating material sustainability factors is essential for long-term value creation in the financial markets sector. Sustainability and ESG initiatives — such as fostering positive environmental impact, upholding human rights, promoting ethical conduct and maintaining fairness and accountability in decision making — are key elements to preserve and create value within the investment portfolios managed by the AIFM. The AIFM embraces sustainable practices, believing that embedding financially material ESG factors supports the resilience of portfolios, helping to mitigate downside risks and enhance value creation opportunities.

Aurora Growth Capital Proprietary Responsible Investment Approach

As part of the AIFM, we meticulously integrate a responsible investment approach across every stage of the investment cycle. This approach is detailed during two pivotal phases: (i) the pre-investment phase, which encompasses the sourcing, comprehensive due diligence, and execution of investment decisions, and (ii) the post-investment phase, which begins once the transaction concludes, covering the onboarding, active ownership, and exit stages. Our methodical approach to responsible investment is underscored by the integration of ESG factors within each critical phase, as illustrated in the figure below:

Aurora Growth Capital Sustainability & ESG
Oversight and Implementation

At Aurora Growth Capital we are at the forefront of responsible investing, having established a comprehensive ESG governance and oversight structure, and clearly outlining roles and responsibilities to support its commitments and strategy.
The AIFM ESG Committee, established at the AIFM level and led by the ESG Practice Leader, is responsible of providing strategic direction in terms of the GP’s responsible investment approach and is accountable for the oversight of the responsible investment policies for the different investment strategies managed by the AIFM. The ESG Committee is composed of the ESG Practice Leader, ESG Manager, senior members of the investment team and representatives of the AIFM’s control functions. The investment team, supported by the ESG Team, is responsible for the implementation of the AGC Responsible Investment Policy within the pre- and post-investment activities and for periodically reporting to the AIFM ESG Committee the compliance to such policy.
The ESG Team is responsible for supporting the strategic definition and implementation of the funds’ ESG strategies in line with the provisions of the ESG Committee. This includes setting the overall direction, assisting investment teams in implementing ESG policies and plans, and ensuring regulatory compliance. The team also drives ESG initiatives, monitors performance, prepares key disclosures, and responds to investor requests.

Aurora Growth Capital ESG Annual Spotlight

Since 2019, AGC is committed to active ESG KPI monitoring and disclosure from portfolio companies. Annually we monitor and report more than 20 KPIs for each portfolio company based on recognized standards and frameworks such as GRI (Global Reporting Initiative) and EDCI (ESG Data Convergence).

Access Portfolio Companies’ Latest Sustainability Reports

Industry Collaboration

As part of the AIFM, the AGC Team collaborates with clients and other stakeholders in the investment industry to encourage broader acceptance and implementation of responsible investment practices. These collaborative activities may include joint engagement efforts with sustainability-linked organizations, participation in collective research projects on ESG topics, and support for industry-wide standards on ESG disclosure.

We are a strong supporter of sustainability initiatives in private equity markets and are active in the following industry-wide initiatives:

Embracing the PRI Principles for Responsible Investment

The AIFM has been a signatory of the UN-supported Principles for Responsible Investment (PRI) since its inception in 2015 under the Neuberger Berman umbrella. Starting from 2025, we have become an independent signatory of the UN PRI. The AIFM has voluntary reported on all the mandatory PRI modules in the 2025 reporting window and received a proprietary score well above the median across all reporting categories, obtaining 4 stars in the Policy, Governance & Strategy and Private Equity modules, and 5 stars in the Confidence building measures module. A summary of the scorecard is presented below:

*Formerly Investment and Stewardship Policy

Sustainability-related Disclosures

In May 2018, the European Commission adopted its Action Plan on Financing Sustainable Growth, with the aim of reorienting capital flows towards sustainable investment, managing financial risks stemming from environmental and social issues, and fostering greater transparency in ESG reporting.
As part of this initiative, Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (“SFDR”) was published on 9 December 2019 and entered into force on 29 December 2019, with effective implementation starting from 10 March 2021.
Renaissance AIFM S.à r.l. is an alternative investment fund manager based in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF). In accordance with SFDR, Renaissance AIFM S.à r.l. provides the entity-level disclosures pursuant to Articles 3(1), 4(1)(b), and 5(1) of the Regulation. Please refer to the link below.
For sustainability-related disclosures under Article 10 SFDR, which relate to AIFM’s Article 8 or 9 financial products, please refer to the product-specific documentation available through the respective investor portals or contact the AIFM directly.
For detailed information on Sustainability-related Disclosures, please refer to the next link:
Sustainability-related Disclosures