Principles and Criteria

Apartheid and Occupation systematically deprive people of basic human rights. Venture capital firms must not support apartheid or occupation.

Criteria

Segregation Technology

• Technology that supports discriminatory control or surveillance
• Facial recognition or geolocation technologies used for targeting in discriminatory or military operations
• Surveillance technologies used to enforce segregation or occupation

Illegal Settlements

• Supporting illegal settlements in occupied territories
• Companies headquartered in or with offices or personnel in occupied territories
• Exploitation of resources in occupied lands or from illegal settlements
• Equipment for demolition of property or agricultural destruction in occupied territories
• Construction and expansion of illegal settlements
• Travel/tourism/hospitality, real estate, and real estate services in occupied territories
• Lobbying, advocating, or legal defense in support of illegal occupation

Apartheid Infrastructure and Services

• Construction, maintenance, or enhancement of infrastructure that enforces apartheid
• Companies providing material or equipment for walls or checkpoints enforcing apartheid
• Companies or individuals discriminating against ethnic or racial groups in services, goods, or employment
• Companies or individuals involved in segregationist practices or supporting apartheid regimes
• Services and utilities that support illegal settlements
• Banking and financial operations that help develop, expand, or maintain settlements

Crimes Against Humanity contribute to the deprivation of life, liberty, and human rights of a people and violate international law. Venture capital firms must not support these crimes.

Criteria

Human Tragedy and Fatalities

• Directly engaging in or facilitating actions leading to mass killings, forced displacement, and/or severe human suffering
• Participating in or funding operations that result in the loss of life, injury, or long-term health impacts on civilian populations
• Providing critical supplies for violent acts such as weapons, ammunition, or other military-grade equipment or surveillance technology used against and in violent acts against the civilian population
• Supporting the systematic removal or destruction of specific ethnic, religious, or cultural groups

Financial and Supply Chain Support

• Financial institutions that support regimes or companies implicated in genocide or ethnic cleansing
• Supply chains that source materials or products from conflict zones, or that supply resources to entities engaged in genocidal practices
• Logistics or tooling that facilitate crimes against humanity
• Critical IT, cloud, or large-scale data-processing infrastructure reasonably expected to support military or government operations implicated in crimes against humanity
• Providing essential supplies like food, oil, and other resources that help those committing crimes against humanity

Support of Genocidal Economies

• Bonds, stocks, or financial instruments issued by governments or entities committing genocide
• Partnerships or joint ventures with state-owned enterprises of countries involved in genocidal policies
• Companies headquartered in, with offices or personnel in, having substantial operations in, or having significant contracts with countries committing genocide or ethnic cleansing, regardless of the company’s direct involvement in these activities.

Indirect Support and Complicity

• Companies that indirectly support or benefit from entities involved in genocidal or ethnic cleansing activities through supply chains or third-party relationships
• Involvement with companies providing technology, data, or resources that could facilitate genocidal or ethnic cleansing actions

The need for rapid deployment in venture-backed businesses poses a direct conflict with principles of international humanitarian law and responsible weapon development. Venture capital firms must not support any kind of weapons development.

Criteria

Weapons and Military Technology

• Weapons or military gear, offensive cyber tools, or aggressive law enforcement tech.
• Weapon research or development, including aerospace companies that develop missiles or satellites for war use.

Targeting and Autonomous Systems

• Facial recognition or geolocation technology for weapons targeting.
• Unmanned military systems or rapid-deployment defense systems, including autonomous vehicles such as unmanned aerial and ground vehicles for various defense applications.
• Developing “kill” web technologies.

AI Integration into Warfare

• Developing AI technologies for autonomous weapons, surveillance, reconnaissance, and combat systems.
• Dual-use technologies used for both commercial and defense applications.
• Development of Intelligence, Surveillance, and Reconnaissance (ISR) technologies used to gather and analyze information about enemy forces, terrain, and activities.

Nuclear Weapons and Arms Trade

• Development, production, or maintenance of nuclear weapons.
• Research or technologies that contribute to the proliferation of nuclear weapons or related delivery systems.
• Developing AI that revolutionizes the defense sector, enhancing the global arms trade.

Manufacturing Consent refers to creating, promoting, and reinforcing public narratives that support committing Crimes against Humanity. Venture capital firms must not support the manufacturing of consent for these crimes.

Criteria

Supporting, Defending, Normalizing, or Glorifying These Crimes

• Equating civilian populations to militants, or blurring the distinction between civilians and militants
• Providing or promoting plausible deniability for these crimes
• Supporting the actions or rhetoric of governments and militaries, or their representatives, who are committing these crimes
• Advocating for breaches of international law, including disproportionate military actions, or actions against civilians
• Spreading false propaganda and misinformation

Dehumanization and Denial

• Dehumanization of the victims of these crimes
• Denying or minimizing the existence of these crimes
• Downplaying civilian deaths and casualties

Distracting from Reporting

• Advocating for violence, suppression, retaliation, loss of employment, income, housing, or educational opportunities, of people advocating against these crimes
• Advocating against institutions or organizations providing essential services to protect against, prevent, or address the casualties of these crimes
• Weaponizing false definitions of racism, or supporting organizations that weaponize false definitions of racism
• Using passive voice to avoid naming the perpetrator of the crime

Promoting Ethnocentrism

• Promoting or advocating for race-, nationality-, or ethnicity-based exceptionalism or supremacy

Promoting Hatred and Dehumanizing Narratives

• Promoting, funding, or amplifying hatred, hostility, or dehumanizing narratives targeting a group based on race, ethnicity, nationality, religion, or another protected characteristic — even without a specific ongoing crime, if the narrative could reasonably contribute to conditions for crimes against humanity

Venture capital firms must not associate with individuals who have participated or are complicit in Crimes against Humanity, especially in leadership or key roles.

Criteria

Direct Perpetrators

• Individuals accused or convicted of these crimes
• Former defense personnel associated with countries or organizations accused of these crimes

Supporting Roles

• Ties to military operations involved in these crimes
• Providing support services or logistics to entities engaged in these crimes
• A history of involvement in military operations or organizations accused of these crimes
• Funding the defense of individuals or organizations accused of these crimes

Indirect Contributors

• Indirectly supporting or benefiting from entities engaged in these crimes through supply chains or third-party relationships
• Engaging in activities that could be seen as complicit in these crimes, such as providing technology, data, or resources to oppressive regimes

Venture capital firms must not support economic systems that enable or profit from Crimes against Humanity, including financial structures that sustain oppressive regimes.

Exception: Where the perpetrator of these crimes controls the economic opportunity of the victims, this criterion does not preclude supporting those victims or members of the victim group.

Criteria

Direct Investment

Investment in ventures or assets tied to entities incorporated in, or operating in, states or territories charged with these crimes.

• Venture capital and private equity investments
• Public equity or stock investments in such companies or ventures

Financial Agreements

With individuals, companies, or ventures incorporated in, or operating in, states or territories charged with these crimes.

• Financial partnerships, loans, mortgages, debts (including venture debt, convertible debt, or SAFE agreements), leases, other property agreements, and any other business transactions
• Mergers, acquisitions, partnerships, IP agreements, or joint ventures
• Significant relationships with customers, vendors, or partners

Educational and Research Ties

With institutions and companies incorporated in, or operating in, states or territories charged with these crimes.

• Providing internships, or undergraduate or post-graduate apprenticeship opportunities
• Providing scholarships
• Funded trips and learning opportunities

Business Partnerships

With companies or ventures incorporated in, or operating in, states or territories charged with these crimes.

• Co-marketing, partnerships, sponsorships, joint public relations, advertising, and media campaigns, and sharing of customer information or relationships
• Seeking to encourage travel, migration, or investment