Doorway, a club deal platform authorized by Consob for online Equity Investing, has announced that it has adhered to the Principles for Responsible Investment (PRI), established by the UN. The company also said it has joined the members of the Forum for Sustainable Finance (FFS), a non-profit association that since 2001 has brought together financial operators and other organizations interested in the environmental and social impact of investments.
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Adherence to the PRI entails adherence to and application of a number of core principles
In line with its mission to promote the integration of environmental, social, and governance criteria into investment policies and processes, the Forum for Sustainable Finance has recognized Doorway as a valuable associate in achieving its goal of encouraging exchange and cultural growth in sustainable and responsible investing. At the international level, the SBB is a board member of Eurosif (European Social Investment Forum), an association committed to promoting sustainable finance in European markets, and since 2012 is also promoter and coordinator of Sustainable and Responsible Investment Week in Italy.
By signing the PRI, Doorway confirms its constant attention to sustainability issues and thus joins the international network of over 4,000 signatory management companies and investors, which manages over $121 trillion in assets. The initiative, launched in 2006 in New York, is designed to encourage investors and asset managers to fully assume fiduciary responsibility, is aimed at establishing the links between investments and environmental, social, and governance (ESG) issues, and helps signatories include these issues in their investment and shareholding decisions. Specifically, membership provides access to a network that allows investors to share best practices, more easily collaborate with other signatories, and have the opportunity to participate in a variety of activities and working groups.
Adherence to the PRI entails adherence to and application of a number of core principles: incorporating environmental, social, and governance (ESG) considerations into financial analysis and investment decision-making processes; being an active shareholder and incorporating ESG considerations into shareholder policies and practices; requiring reporting on ESG considerations by investee companies; promoting acceptance and implementation of the principles within the financial industry; collaborating to improve the application of the principles; and periodically reporting on activities and progress made in applying the principles.
As a service provider, adhering to the PRI means a greater commitment to communication: Doorway will be able to report on its activities on a voluntary basis from 2022, but this commitment will become mandatory from 2024.
Fiona Reynolds, CEO of PRI, explained, “By adhering to them, Doorway recognizes the importance of including ESG factors in its equity investment platform.”
Antonella Grassigli, CEO and co-founder of Doorway, as well as Business Angel of the Year 2021 of the Investors’ Club, said, “With the Forum for Sustainable Finance with which we share the goal of fostering the transformation of the financial system towards a model capable of promoting not only the realization of profits but also the improvement of our society, a mission consistent with our status as a benefit company. In their investment choices, investors, in Italy and abroad, are increasingly attentive to environmental, social and governance (ESG) criteria and want to be able to recognize sustainable companies to which to allocate their capital. We were the first in Italy to systematically integrate ESG criteria analysis into the deal selection process, alongside business criteria. In this way, we are not only able to offer our investors access to investment opportunities with high exit potential and compliant with ESG criteria, but also to stimulate the founders to improve the sustainability of their companies.”
Doorway was authorized by Consob in December 2018
Doorway, based in Bologna, is a “club deal” on an equity crowdfunding platform authorized by Consob, dedicated to both retail and professional investors. Its peculiarity lies in the fact that the investment is always made through a vehicle company that invests in the target company either in a single solution or upon the achievement of defined milestones. Moreover, the commission model intends to reward “female” companies and those with a strong social impact. In fact, while the ordinary commission will be 8% on fundraising, for impact initiatives and/or those that are made up of a female prevalence in the corporate structure or management, the commission is reduced to 6%. In November 2018 Doorway obtained the authorization to operate from Consob and since December 2020 it is a benefit company.
This month, the Swiss fintech Sonect closed its equity crowdfunding campaign conducted on the Italian portal Doorway with a collection of more than $1.5 million (€1.3 million). With this result, it confirmed its 100% success rate in closing campaigns, in the vast majority in overfunding, and exceeded $14 million (€12 million) in capital raised. With the Doorway crowd, designated by the Polytechnic of Turin as the first online “angels platform” in Italy, co-investors include Club degli Investitori, Italian Angels for Growth, Angels for Women (A4W, which Grassigli co-founded), Boost Heroes, Gellify, and other important industrial investors, with rounds in excess of one million euros.
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