Response from Sinovation Ventures to Risky Business report
“Please find a summary of our ESG approaches as below:
- Policy & Commitments
Considering the length of the full version of our ESG policy, we put a summary of ESG policy on the website. In our daily practice, we use detailed procedures and tools, continuously applied them to cover ESG related risks...
2. Due Diligence
Based on the ESG risks identified in initial screening, we perform further investigations (due diligence). During the ESG due diligence, we may use desktop review, site visit and external expert’s work to understand portfolio companies’ business, and assess portfolio companies’ ESG risks...
3. Term Sheets
As an early phase document in our investment process, Term Sheet usually does not include ESG criteria because we still need due diligence to identify and assess the ESG risks of the portfolio companies...
We invested in Megvii in 2013 because it is a leading computer vision artificial intelligence technology company. As an investor, we believe that technology is neutral..."