Vous naviguez dans un portefeuille diversifié. Comment éviter efficacement les conflits d’intérêts ?

> Develop policies and procedures to define what constitutes a conflict of interest and outline the steps to be taken if one arises. > Require portfolio companies and employees to disclose any potential conflicts of interest before making decisions or engaging in transactions. > Consult with external experts or advisors to ensure that decisions are made objectively and without bias.

Quando falamos sobre Venture Capital no mercado brasileiro e suas regras são bem claras, temos aqui um dos melhores regulações do mercados financeiros mundiais. Críticas para melhora sempre serão necessárias e possíveis, mas temos que reconhecer aquilo que temos de bom

1. Establish Clear Guidelines: Set explicit policies and ethical standards to identify and manage potential conflicts of interest. 2. Maintain Transparency: Disclose all relevant information about your holdings and interests to stakeholders and clients. 3. Segregate Roles and Responsibilities: Separate decision-making processes and responsibilities to prevent conflicts from influencing outcomes. I 4. Implement a Review Process: Regularly review and assess your portfolio and practices to identify and address any emerging conflicts. 5. Seek External Advice: Consult with compliance officers or legal advisors to ensure all actions are aligned with regulatory requirements and ethical standards.

A divulgação do portifólio é um ponto de discordância entre nós participantes porque ao mesmo tempo que mostra nosso comprometimento como os investidores também revela para os concorrentes nossas estratégias o que é prejudicial para as empresas que investimento em equipe e tecnologia para depois serem copiadas

One of the best ways to avoid any conflict of interest is to ensure an Independent Investment committee (IC) comprising of independent members, not from the fund. Having independent members ensures the subjective bias is reduced drastically, if not completely eliminated. Also having an network of experts, mentors on the advisory board of the VC fund ensures that each decision to invest in a startup is taken after detailed due diligence , estimating both pros and cons and foreseeable conflict of interest, if any. Also ensure there is honest communication with your portfolio companies with full disclosure if you have invested in any similar or competing companies.

Não concordo com o modelo de decisões separadas para processos que tem sombra pois as vezes uma decisão precisa ser tomada sem que você tenha um informação importante mas que não pode acessar por essa separação

Continuous monitoring is essential in venture capital to avoid conflicts of interest. I once invested in a company that operated in a rapidly changing industry. By closely tracking industry trends and regularly reviewing the performance and strategic direction of my portfolio companies, I identified a potential overlap between two investments early on. This allowed me to address the situation promptly by adjusting my involvement to prevent any conflict, ensuring that my actions remained aligned with ethical investment practices.

Regular training on conflict of interest management ensures that all team members understand the importance of identifying and addressing conflicts proactively. Recognising the importance of continuous education, I implemented a regular conflict of interest training programme for all employees. This training included case studies and role-playing scenarios where team members had to navigate potential conflicts. The training reinforced the firm’s commitment to ethical practices and equipped employees with the skills needed to identify and resolve conflicts early. As a result, potential conflicts were flagged more quickly, and resolutions were reached more effectively, maintaining the firm’s reputation and stakeholder trust.

When conflicts of interest arise, a structured resolution process is crucial. For instance, a venture capitalist once faced a situation where their firm was considering an investment in a company led by a former colleague. To maintain fairness, they disclosed the connection to the team, recused themselves from the decision-making process, and involved an independent advisor to ensure objectivity. This approach preserved the integrity of the investment decision and upheld the trust of all stakeholders.

Conhecimento para nosso mercado nunca é demais quando se trata de conflitos um caminho é buscar o máximo de informações que estão sendo usadas para a tomada de decisão e encontrar com isso pontos que podem ser melhorados para facilitar a negociação