In today’s digital landscape, cybersecurity is a critical area of focus. As part of our commitment to responsible investment and risk management, in 2024 we launched the portfolio cybersecurity programme ('the programme') – a proactive cybersecurity monitoring and assessment initiative developed in partnership with our cybersecurity adviser.

The programme is designed to provide a clearer understanding of the cybersecurity posture across our portfolio companies and to support them in strengthening their defences. The programme builds on our earlier assessment efforts, introducing a more structured, consistent and collaborative approach to managing cyber risk.

Each portfolio company participates in a regular assessment process, combining outside-in vulnerability scans with an online questionnaire to provide a broad view of their security maturity. In some cases, where further analysis is needed, a more in-depth review is carried out with support from external cybersecurity consultants. This tiered approach ensures that we’re focusing efforts where they’re most needed while maintaining visibility across the portfolio.

A key feature of the programme is the online portal, which gives each company access to their individual results and risk scores. This platform allows companies to see areas for improvement, track their progress over time, and update their scores as they enhance their capabilities. It becomes both a diagnostic and planning tool, helping companies make informed decisions about where to focus their efforts.

From our perspective, the programme provides valuable insight at the company, fund and portfolio levels. We can monitor trends, identify areas of shared risk, and offer targeted support to help drive improvements. In 2025, we will expand the programme, organising regular portfolio cybersecurity huddles to address the most commonly identified risk areas. This data-driven view enhances our ability to manage cybersecurity risk and supports more strategic, long-term decision-making.

Ultimately, the programme is designed to support steady, practical improvements in cybersecurity across our portfolio – helping companies stay ahead of risks and adapt to a changing threat landscape.

During 2024, we continued to prioritise cybersecurity and data protection as a key pillar of our portfolio sustainability strategy. As the cyber threat landscape evolves, we remain committed to supporting our portfolio companies in their efforts to build resilient, secure and thriving businesses.