In partnership with Reframe Venture

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Quick Links:

• Conceptual framework (Excel): Invest Europe Framework

• Flowchart of data movement:

  Invest Europe MRF Flowchart.pdf

• CSV specifications:

  • 🔗 Portfolio Company Specification (v2.0)
  • 🔗 Fund-level Specification (v2.0)
  • 🔗 GP-level Specification (v2.0)

• Example CSV Files:

  Portfolio Company Example.csv

  Fund Example.csv

  GP Example.csv

• Validator web-app: Source code runs as a web app locally, follow instructions on README.md: https://github.com/olivernixon1/InvestEurope-ReframeVenture-MRF-2025

• Validator source code: https://github.com/olivernixon1/InvestEurope-ReframeVenture-MRF-2025

• Error Handling Flowchart for Atlas Metrics Import:

  MRF Atlas Metrics Import Error Handling .pdf

  GPs are to contact their platforms in the case of incorrectly formatted or rejected MRF files.

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A. Introduction:

This white-label machine-readable ESG reporting template matches precisely to the 2025/26 Invest Europe GP-LP ESG Reporting Template.

The goal of this template is to facilitate ESG data collection and make ESG reporting seamless across different reporting software platforms.

The machine-readable format would not have been possible without the development of an earlier version — the 2023/2024 template — developed by Atlas Metrics for KfW Capital.

This version was developed by VentureESG in partnership with Invest Europe and a consortium of ESG software platforms, including Apiday, Atlas, AtomInvest, Kara, ImpactNexus, MetricESG, and Novata.

B. How to become a supported platform (on Invest Europe’s website)

Invest Europe maintains a live list of ‘supported platforms’ on their website — only these platforms will have permission to say in their own marketing and website that they support the Invest Europe template.

To become a supported platform, you will need to be approved by Invest Europe. This process is still being finalised. In the meantime, this is the latest draft process:

• Process:

C. How data moves:

At this stage, portfolio companies and GPs are the handlers of export files to ensure data privacy and security. Direct platform-to-platform transfer is not currently possible.

Platforms implementing the MRF will need to build both import and export functionality. The validator web-app and open-source code can assist with developing this.

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This flowchart PDF is a detailed overview of how the MRF assists GPs and portfolio companies to fulfil multiple reporting requests:

Invest Europe MRF Flowchart.pdf

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In short:

1. Export from ESG reporting platform
   1. Portfolio companies and GPs may obtain export files compliant with the Machine-Readable Format from an ESG reporting platform provider.
   2. We advise all data handlers to ensure they have appropriate consent to move data.
2. Validate
   1. We recommend checking export files are valid by using the validator [2025/26 version coming soon].