Direct Investment Request - 2021 - No. 1

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The decision

2021-02-05 · Board of Directors of the Toronto Atmospheric Fund · amended

As filed

The Board of Directors of the Toronto Atmospheric Fund: 1. Approved an investment of up to $1,000,000 subject to the terms and conditions as set out in Confidential Attachment 1 subject to appropriate security reflected in the agreement. 2. Directed the Vice President - Impact Investing to implement the investment to the satisfaction of Toronto Atmospheric Fund's Solicitor. 3. Directed that the confidential information

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contained in Confidential Attachment 1 and the Confidential Presentation remain confidential in their entirety, as they contain commercial and financial information, supplied in confidence to The Atmospheric Fund, which, if disclosed, could reasonably be expected to significantly prejudice the competitive position, or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

On the agenda

As the city filed it

Approval of a Direct Investment of up to $1,000,000 is recommended. Due diligence indicates the potential for risk-adjusted return and compliance with TAF's investment policy and asset mix limits. The investment, alongside sophisticated investors, will support a local company poised for growth that has strong alignment with TAF's mandate.

Staff recommended

The Vice Present, Impact Investing recommends that the Board of Directors of the Toronto Atmospheric Fund: 1. Approve an investment of up to $1,000,000 subject to the terms and conditions as set out in Confidential Attachment 1. 2. Direct the Vice President - Impact Investing to implement the investment to the satisfaction of Toronto Atmospheric Fund's Solicitor. 3. Direct that the confidential information contained in

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Confidential Attachment 1 remain confidential in its entirety, as it contains commercial and financial information, supplied in confidence to The Atmospheric Fund, which, if disclosed, could reasonably be expected to significantly prejudice the competitive position, or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

On the record

The item as the City filed it

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