Iip Venture II K/S

Management’s ReviewMain activityIIP Venture II K/S was established in March 2022 and commenced investment activity in June 2022 with a capital commitment of DKK 350 million from PKA. In November 2022, PKA increased the commitment to DKK 525 million and as of 1 December 2022 the commitment was further increased to DKK 2 billion in total.The Limited Partnership aims to invest in venture funds and co-investments with managers of venture funds primarily in Europe and North America.IIP Venture II K/S has entered into a management agreement with IIP Denmark P/S in terms of handling the administration and provide investment advisory to IIP Venture II K/S. Consequently, the Limited Partnership has no employees.

Development in activities and financial positionThe financial year 1 January – 31 December 2023 resulted in a loss of DKK 12.6 million and the balance sheet reflected equity of DKK 80.7 million as of 31 December 2023.The result is negatively affected by the general market adjustment of valuations in venture funds in 2023. Furthermore, the result is negatively affected by exchange rate adjustments due to the development in the USD exchange rate during the financial year.The result for 2023 is considered unsatisfactory.Balance sheet and capital resourcesThe Limited Partners have paid DKK 96 million of their capital commitments as of 31 December 2023.Sustainability update (SFDR)The investments underlying this financial product do not take into account the EU criteria for environmentally sustainable economic activities.