The protection of your data is a top priority for our team at Foundamental. We therefore exclusively process your personal data in compliance with the terms of this Privacy Policy as well as the provisions of the EU General Data Protection Regulation (GDPR) and the German Federal Data Protection Act (BDSG). We may offer links to third-party services on our website. However, we are not responsible for the processing of your data by these services.

1 — Name and Contact Details of Controller and Company Data Protection Officer

This Privacy Policy pertains to data processing by all our office locations.

Foundamental Management GmbH
Represented by its directors
Patric Hellermann, Shubhankar Bhattacharya
Budapester Str. 5
10787 Berlin

Phone: +4915221482769

Registration No.: HRB 220138 B
VAT No.: DE344168764

The data protection officer can be reached at:
Foundamental Management GmbH
Data Protection Officer
Budapester Str. 5
10787 Berlin


2 — Collection, Storage and Deletion of Personal Data As Well As Type and Purpose and Data Use

If you would like to get in touch with us, you can send us an email to
Depending on your request, we collect the following information:

  • Your name
  • E-mail address
  • Job title
  • The company you act for
  • Your message

The processing of personal data is based on our legitimate interest in the response of your request pursuant to Art. 6 (1), sentence 1, lit. f, GDPR. Moreover, if you would like to send us a request for funding, we need the following data:

  • Your name
  • E-mail address
  • Name of your company
  • Description of your company
  • Website of your company
  • Stage of your company
  • The amount of money you are raising (in US Dollar)
  • Location of your company
  • Your message
  • Your pitch deck

The above-mentioned data is collected in order to:

  • identify you, possibly as a contact person acting on behalf of a company
  • if you ask for financing in order to be able to carry out due diligence
  • correspond with you
  • process any applicable liability claims and assert any claims against you

If you would like to send us a request for funding, your data is processed in response to your request and processing is required pursuant to Art. 6 (1), sentence 1, lit. b, GDPR for the above-listed purposes to ensure adequate service and for the mutual fulfillment of obligations arising from a possible contract. If you do not provide these data, we cannot decide about your request.

We will also process your data if and to the extent necessary to comply with our legal obligations, such as duties arising from legislation on tracing profits from serious criminal offenses (German Anti-Money Laundering Act). The legal basis for this processing of personal data is Art. 6 (1), sentence 1, lit. c, GDPR.

If, in the course of a contractual relationship, it should become necessary to defend ourselves against liability claims, or if we need to follow up with one of our clients with regard to any outstanding invoices, the associated necessary processing of personal data is based on our legitimate interest in the adequate defense of our legal position pursuant to Art. 6 (1), sentence 1, lit. f, GDPR.

The personal data we collect in the context of contractual relationships will be stored for as long as we need it for the purposes for which it was collected and will then be deleted, unless we are obligated to comply with longer storage requirements due to retention and documentation duties based on tax and trade law (from the German Commercial Code (HGB), German Value Added Tax Code (UStG) or German Revenue Code (AO)) pursuant to Art. 6 (1), sentence 1, lit. c, GDPR, if further processing is required due to ongoing legal disputes, or if you have consented to further storage pursuant to Art. 6 (1), sentence 1, lit. a, GDPR.

If we process your data based on your consent, we will inform you in advance of the scope of this consent. You can revoke such consent at any time with future effect, whereby the withdrawal of consent shall not affect the lawfulness of processing based on consent before its withdrawal.

3 —  Data Processing via Logfiles

When you access our website, the browser deployed on your terminal device will automatically send information to our website server. This information is temporarily saved in a so-called log file. In this process, the following information will be collected without any action on your part and stored until its automated deletion

  • IP address of the computer sending the request
  • Date and time of website access
  • Name and URL of the retrieved file
  • Website from which our site was accessed (referral URL)
  • Browser used and, if applicable, your computer’s operating system as well as the name of your access provider

The above-listed data will be processed by us for the following purposes:

  • Ensuring a smooth connection setup to the website
  • Ensuring easy use of our website
  • Evaluation of system security and stability
  • Clarification of any improper page access (DoS/DDoS attacks, etc.)
  • Further administrative purposes

The legal basis for the processing of personal data is Art. 6 (1), sentence 1, lit. f, GDPR. Our legitimate interest is derived from the above-listed purposes for data collection. We generally do not use collected data for the purpose of drawing conclusions about your person. However, we reserve the right to do so if required to investigate improper page access.

4 Use of Technically Necessary Cookies

Our website uses so-called “cookies” on the basis of Art. 6 (1), lit. f, GDPR. A “cookie” is a file that stores certain information related to the device on the user’s access device (PC, tablet, smartphone, etc.). If our website is accessed by the user’s corresponding device, the server of our website receives information back from cookies. The server can evaluate the information stored in the cookie in various ways. You can use the settings in your browser to allow or deactivate cookies. However, not all functions of our website may be available if you deactivate cookies. We use a technically necessary cookie in order to store the information whether you have given your consent to the use of cookies and embedded tools via our cookie banner. 

5 Mailchimp

We use Mailchimp, a service of The Rocket Science Group, LLC, 675 Ponce de Leon Ave NE, Suite 5000, Atlanta, GA 30308 USA for sending our newsletters. Mailchimp is working on our behalf as a data processor. You can find more information about privacy and GDPR-compliance of Mailchimp at and at

6 Google Analytics

Based on the consent of website visitors, this website uses Google Analytics, a web analysis service provided by Google Inc. (“Google”). Google Analytics uses so-called “cookies”, text files that are stored on your computer and that allow an analysis of the use of the website by you. The information generated by the cookie about your use of this website is usually transmitted to a Google server in the USA and stored there. However, if IP anonymisation is activated on this website, your IP address will be shortened beforehand by Google within member states of the European Union or in other contracting states of the Agreement on the European Economic Area. Only in exceptional cases will the full IP address be transmitted to a Google server in the USA and shortened there. On behalf of the operator of this website, Google will use this information to evaluate your use of the website, to compile reports on website activity and to provide the website operator with other services related to website activity and internet usage. The IP address transmitted by your browser as part of Google Analytics will not be merged with other Google data.

You can prevent the storage of cookies by setting your browser software accordingly; however, we would like to point out that in this case you may not be able to use all the functions of this website to their full extent. You can also prevent Google from collecting the data generated by the cookie and related to your use of the website (including your IP address) and from processing this data by Google by downloading and installing the browser plug-in available under this link.

In view of the discussion about the use of analysis tools with complete IP addresses, we would like to point out that this website uses Google Analytics only after the previously granted consent and with the extension “_anonymizeIp()” and therefore IP addresses are only processed in abbreviated form in order to exclude a direct personal reference. Especially for browsers on mobile devices, please click this link to prevent the anonymized collection by Google Analytics on this website for your browser by means of a so-called “opt-out cookie” in the future.

In detail, these are the following cookies:

  1. Name: _ga
    Function: Differentiation of website visitors
    Storage period: 2 years
  2. Name: _gid
    Function: Differentiation of website visitors
    Storage time: 24 hours
  3. Name: gat_gtag_UA_<property-id
    Function: Used to throttle the request rate
    Storage time: 1 hour

7 YouTube

In order for you to watch videos of content, we have integrated videos from YouTube into our website. YouTube is operated by Google Ireland Limited Gordon House, Barrow Street, Dublin 4, Ireland. We use the “extended data protection mode” offered by YouTube. Video content is only loaded via the specially secured domain This means that no cookies are set and YouTube cannot load any advertisements. More information about data protection on YouTube can be found here.

You can withdraw your consent you gave to us by choosing one of the options mentioned below:

Your current state: Allow all cookies (Necessary, Preferences, Statistics, Marketing). 
Change your consent  |  Withdraw your consent

The withdrawal of consent shall not affect the lawfulness of processing based on consent before its withdrawal.

For the administration of cookies wie use Cookiebot, a service of Cybot A/S Havnegade 39, 1058 Copenhagen, DK. Cookiebot provides the Cookie-Banner for us as a hosted software as a service application. The legitimation is based on Art. 6 (1), lit. f, GDPR. Our legitimate interest is to provide our website complying to data protection laws. Further details you can find in the Privacy Policy of Cookiebot at

10 — Data Disclosure to Third Parties; Data Transfer Third Countries

Your personal data will not be disclosed to third parties except for the purposes listed below.

Your personal data will be disclosed to the service providers mentioned in section 4 to 6 and 7 of this Privacy Policy. In addition, we may disclose your personal data to our affiliate companies if we have a legitimate interest for. Moreover, we maintain contracts with IT service providers as well as infrastructure and platform service providers and marketing and market research service providers which process your data on our behalf. The legal basis for this data processing is Art. 6 (1), sentence 1, lit. b, GDPR. Our legitimate interest is to guarantee reliable and safe data processing for the performance of our activities and the management of our company with the support of professional service providers as well as optimization of our business and marketing activities.

We have concluded adequate data processing agreements with all parties mentioned above and we ensure that the necessary guarantees are respected in order to ensure an adequate level of data protection where services providers or servers of services providers are located outside the EU/the EEA.

11 — Rights of Data Subjects

You have the following rights:

  • To obtain information from us about the personal data we process according to Art. 15 GDPR. In particular, you may request information about the purposes of the processing, the categories of personal data, the categories of recipients to whom your personal data have been or will be disclosed, the envisaged period for which the personal data will be stored, the existence of the right to request rectification, erasure, restriction of processing or to object, the right to lodge a complaint, the source of your data if they were not collected by us, as well as the existence of automated decision-making, including profiling, as well as meaningful information about the associated details
  • To request without delay the rectification of incorrect or incomplete personal data stored by us according to Art. 16 GDPR
  • To request, according to Art. 17 GDPR, the erasure of personal data stored with us, unless the processing is necessary for exercising the right of freedom of expression and information, full compliance with legal obligations, for reasons of public interest, or for the establishment, exercise or defense of legal claims
  • To request restriction of processing your personal data according to Art. 18 GDPR, if you contest the accuracy of the data, if the processing is unlawful but you oppose the erasure of the data, and if we no longer need the personal data but you require them for the establishment, exercise or defense of legal claims, or if you exercised your right to object to processing according to Art. 21 GDPR
  • To request your personal data, which you have provided to us, in a structured, commonly used and machine-readable format or to demand the transmission to another controller according to Art. 20 GDPR
  • To lodge a complaint with a supervisory authority in accordance with Art. 77 GDPR. You can generally contact the supervisory authority at your usual place of residence or workplace or at our seat for this purpose

12 — Right to Object

To the extent your personal data is processed on the basis of legitimate interests pursuant to Art. 6 (1), sentence 1, lit. f, GDPR, you have the right to object to the processing of your personal data pursuant to Art. 21, GDPR on grounds relating to your particular situation. To exercise this right to object, it is sufficient to contact our Data Protection Officer via the contact details as mentioned above. Please see also sec. 7 of this Privacy Policy for tracking technologies.

13 — Period of Data Storage and Routine Deletion

Insofar nothing else is explicitly stated above we process and store personal data only for the period, which is required to meet the purpose of processing, or as long and to the extent as statutory laws require us to process and/or store such data.

If the purpose of processing does not apply anymore or the applicable statutory retention requirement expires, we will as a matter of routine erase data or restrict the processing of data in accordance with the applicable statutory laws.


Sustainability-related disclosures pursuant to Regulation (EU) 2019/2088 (“SFDR”)

Date of publication: [•]

Date of update: [•] (explanation of amendments: linguistic adjustments and adjustments to reflect the evolving market practice as well as recent guidance from European institutions)

I. Sustainability risks

Sustainability risks are environmental, social or governance events or conditions, the occurrence of which could have an actual or potential material adverse effect on the value of an investment of Foundamental Management GmbH (the “Manager”, LEI: 391200OL7MR0CLUFJO87) considers sustainability risks as part of the due diligence process prior to any investment. This also includes an assessment of sustainability risks. Such assessment is being conducted through an informal process as appropriate in light of the circumstances of the individual case. The results of such assessment are taken into account on a non-binding basis prior to taking any investment decision, provided that the principle of proportionality shall at all times be respected in dealing with sustainability risks taking due account of the strategic relevance of an investment as well as its transactional context.

II. No consideration of adverse impacts of investment decisions on sustainability factors

Sustainability factors are environmental, social and employee concerns, respect for human rights and the fight against corruption and bribery. The Manager does not consider adverse impacts of investment decisions on sustainability factors. Also, no sustainability indicators as listed in Annex I of the Regulatory Technical Standards (C(2022) 1931 final, “RTS”) are currently being used.

The Manager pursues an active investment strategy with a focus on assets in the construction sector. The burden associated with considering adverse impacts on sustainability factors (particularly if sustainability indicators are used) would be disproportionate in light of the rather limited relevance we expect such impacts to have in the context of the Manager’s investment strategy. Moreover, given that the SFDR, the Regulation (EU) 2020/852 (“Taxonomy”) and the accompanying RTS are still quite new legislative acts, there is very little or no practical experience or practice with regard to applying their respective provisions. Therefore, substantial legal uncertainties would remain when applying those provisions to the strategies pursued by the Manager. What is more, the Manager’s funds will only hold minority interests in their portfolio companies. Such minority interests are, however, generally not sufficient to encourage the funds’ portfolio companies to collect and provide the relevant data. If and to the extent that these uncertainties will be resolved and a practicable market and administrative practice will evolve in this regard, the Manager will re-evaluate following them in due course.

III. Remuneration disclosures

As a registered alternative investment fund manager within the meaning of section 2 (4) of the German Investment Code (Kapitalanlagegesetzbuch, “KAGB”), the Manager does not have and does not need to have a remuneration guideline or policy in accordance with the requirements of the KAGB. Sustainability risks are not considered with respect to the determination of the remuneration.