Key takeaways from Maki.vc Sustainability Report 2024

At Maki, we see sustainability as a key driver of long-term value. Our 2024 Sustainability Report, based on data collected in early 2025, pulls together insights from our annual ESG survey across all active portfolio companies.

The report highlights key data points, tracks progress across core ESG areas, and showcases how our portfolio contributes to sustainability themes. With input from 36 portfolio companies, the findings help us better understand where support is most needed – and how we can continue to contribute to meaningful, measurable change.

Additionally, we’ve taken a close look at our own internal ESG practices, ensuring that sustainability is integrated into our investment strategy and day-to-day operations.

In alignment with Invest Europe’s harmonized ESG reporting standards, select questions and prior responses have been revised, with clarifications noted in the footnotes.

You can download the full report here.

Portfolio highlights

Response rate

We achieved a 97% response rate – our highest to date. This reflects the strong commitment of our portfolio companies and the growing importance of ESG across the board.

ESG maturity

We asked portfolio companies to rate their overall ESG maturity on a scale from 1 (poor) to 5 (excellent). The average portfolio score now stands at 3, with notable progress among earlier fund (Fund I & II) lower-scoring outliers, which have moved closer to the mid-range. Fund III includes freshly onboarded companies, and their initial assessments suggest a strong starting point. Still, we expect to see meaningful progress as they continue to grow and receive ongoing support.

Diversity

Gender diversity remains strong across all levels compared to industry standards, with a continued focus on prioritizing this as portfolio companies mature. However, we still observe a lack of diversity, particularly within smaller tech teams, and place an emphasis on improving it.

This year, we introduced a metric to track the total, initial, and follow-on capital invested in female-founded or co-founded teams. A notable highlight of 2024 in Maki portfolio was the exit of Ultimate.ai, along with the announcement of over €10M funding rounds by Onego Bio (36.5M EUR round) and Volare (15M EUR round), all of which are female co-founded companies.

Headcount

The total number of full-time employees across the portfolio companies remains high. Notably, the figures below do not include FTEs from companies that have exited during the year.

Maki.vc internal operations

Maki continues to maintain strong gender diversity across the team. In 2024, we further strengthened our internal practices for assessing GHG emissions, marking the third consecutive year of conducting GHG calculations.

Access the full report here.

Did you have any comments or questions regarding the Sustainability Report or the ESG work we do at Maki? I’m always up for a chat, so feel free to reach out at mona@maki.vc