Almost-Year-End-Wrap-Up: Responsible AI Tooling, Asia Tour, Stanford Summit!
December 2025
We’ve had a big November, travelling all around the world. Just a couple of weeks ago, we spent two days in Stanford, where we held our Responsible Data and AI Summit, a jam-packed day of panels and breakouts on responsible AI with 70+ North American VCs and LPs.
Before that, we were on our first ever trip to Asia with stops in Singapore and Tokyo. We were busy moderating panels at the Private Equity International Asia Forum and co-hosting multiple events in Tokyo (among others, resulting in our first Japanese interview!). At the tail end of November, we were in South Africa to ‘entertain’ FMO’s complete VC portfolio over 36 hours with all things responsible investing.
In many ways, this November agenda stands in for what 2025 was like for Reframe Venture. While we won’t forgo our traditional End-of-Year post (you will receive that in 3 weeks or so), as December and our wind-down begins, it really feels like we have done a lot.
What we want to showcase specifically in this newsletter – which is now complemented with a specific emerging markets ‘twin newsletter’ (if this is an area you are interested in you can sign up here) — is a big update on all things AI, what we learnt at Stanford, and news from our portfolio programme team!
We wish you a happy festive period,
Johannes and Hannah, on behalf of the whole Reframe Venture team
📣 Calling all VCs: We want to hear your views on AI!
As part of our ongoing partnership with ImpactVC and Project Liberty Institute, and our research into AI, we’ve launched a survey exploring how venture investors think about AI development. 50 VCs have already filled it in — thank you — but we want to get to 100 in the next weeks!
The anonymous survey takes only 8-10 minutes and will be a fundamental contribution to a core piece of benchmarking and industry research.
—> Take the survey here: https://research.reframeventure.com/ai
Aggregated results will be shared publicly in a white paper we’re releasing in January 2026. If you know other investors who should weigh in, please do pass this along!
Responsible AI Due Diligence Tool Launched
AI is part of a large proportion of your deals already - and we want to support you to ask these AI founders better questions!
Last week, we launched our Responsible AI Due Diligence Tool, developed with ImpactVC and in partnership with Project Liberty Institute and with support from Zendesk.
—> Take a look here: https://www.reframeventure.com/vcs/ai
Importantly, it’s not a form to send directly to founders. It’s a practical framework to help you identify what actually matters — the questions worth asking, and where to dig deeper.
We developed it through our working group (thank you so much to all the regular participants), specific 1-on-1 interviews, and global convenings with hundreds of VC funds, LPs, operators, and academics, .
We’ve also published a jargon-light primer on how AI actually works. No hype, no superintelligence talk, no anthropomorphising. Just the mechanics and the humans behind it.
This is just our v1. The technology is moving fast and we’d love your feedback!
Stanford Summit: What We Learnt
On November 13, we had over 70 VCs, LPs, and academics join us for our Responsible Data and AI Summit at Stanford. In partnership with Project Liberty Institute, ImpactVC and the University, a fantastic lineup of panellists and breakout co-hosts, from organisations such as CalSTRS, SoftBank, Manulife, Base 10, SFERS, Westly Group, and StepStone addressed all things responsible AI. What we came away with was hugely encouraging: despite the assumed ‘politics’ of the topic, people in Silicon Valley care about getting AI right, and are hungry for more conversations and more expert input.
Some Key Takeaways:
🔧 Experiment more!
We need to test more! Don’t forget that (a) AI is not a winner-takes-all market, and (b) we haven’t built a lot of small and specialised models. There is a real chance for VCs (including in Europe/Asia) to fund those — and build with responsible AI principles.
👂 Stakeholders matter - listen!
Why do corporations not deploy AI at scale yet? Why does Anthropic (claim to) build responsibly? Why have policymakers across the EU, California, and Korea started to regulate AI? Why do some big LPs already require AI reporting? One answer is: their stakeholders (pensioners, employees, taxpayers, citizens) don’t trust LLMs (and won’t buy them!); they care about explainable, reliable, safe AI.
💪 LPs have (more) power than they think
Mirroring calls during our FRAME conference, we heard this both from VCs (wanting clear guidance) and LPs (wanting collaboration). Especially in the current market of correction in VC fundraising, LPs can indeed ask for more, especially as it aligns with their stakeholders (see point 2). Start by asking simple qualitative questions (‘how do you think about responsible AI’) during DD, engagement and re-upping.
🆕 Portfolio Programme Update
In the last couple of months, and since the arrival of our new team members Honi and Cecile, we’ve made great progress in the planning for our new programme for late-stage portfolio companies. This programme will help founders and operators use sustainability as a strategic tool to spot risks, identify opportunities, and deliver value.
Hosted by portfolio leads Cecile Blilious and Henry Philipson, the programme will consist of in-person and online sessions that explore the practical side of sustainability and its connection to each company’s specific commercial goals. We want to help growth companies understand sustainability as a capability, rather than a mere exercise in compliance.
The pilot cohort, due to launch in Q1 of next year, is backed by Atomico, Northzone, and other leading VCs, with top-tier portfolio companies taking part. Our plan is to open the programme up to further members (also with an early stage version) after running the first cohort. Let us know if you are interested in learning more!
👥 Trainings: Next dates
Dec 10: London [Dual Use]
Jan 19/20: Paris [several trainings with partners, including BPI France]
Jan 29: London [one day responsible investment training] [2 Fund seats available]!
Feb 5: Copenhagen [with EIFO]
Feb 27: London [Responsible AI] [VCs and LPs welcome]!
If you’re interested in joining a training session in one of these locations, or somewhere else [including a bespoke training for your fund], please register your interest here or email Johannes directly at johannes@reframeventure.com!
🚀 Upcoming Reframe Venture Events
If you are attending or would like to join any of the upcoming events, let us know!
💫 January
Dual Use Working Group | Online | Jan 13 | VC Members Only
(Re)Launch: Materiality Napkins Update | Online | Jan 14 | VC & LP Members Only
Regulation, Explained: US Regulation | Online | Jan 15 | VC Members Only
Community Resource Session | Online | Jan 20 | VC Members Only
[New] Book Club: Empire of AI | London | Jan 28 | VC Members Only
[New] Supply Chain Working Group | Online | Jan 28 | VC Members Only
Deep Dive: Designing Efficient, Equitable AI Systems | Online | Jan 29 | VC Members Only
💫 February
Deep Dive: Aligning & Incentivising ESG, Impact & Financial Outcomes | Online | Feb 4 | VC Members and LPs
Breakfast at Index Ventures | London | Feb 10 | VC Members Only
30 minutes with... Prof Fiona Murray | Online | Feb 10 | LP Working Groups Only
Regulation, Explained: DEI Discourses Globally | Online | Feb 11 | VC Members
Quarterly Membership Call: Making Data Useful for Your Portfolio | Online | Feb 12 | Members Only
[New] Breakfast - Future of VC - Evergreens | London | Feb 26 | LPs Only
Insights: AI & Demographic Shifts | Online | Feb 26 | Public
If you are interested in joining our working groups: We’re hosting regular Member-only working groups on dual use/defence, impactful & responsible AI and soon supply chain responsibility. Please let us know if you want to join and we will add you to the call invites!
Missed an event? If you’re a member, you can find recordings of all of our past events here.
📰 Insights from us and the Community
Some good news we’ve been reading recently (for a change!):
CalPERS’ investments in climate solutions have grown to nearly $60 billion as of June 2025, a significant milestone in reaching its $100 billion goal
The ECB issued its first ever climate risk fine to a Spanish bank for failing to meet its materiality assessment, as ECB supervisors become increasingly diligent in probing banks’ exposure to climate risk
California Governor Gavin Newsom signed AI Chatbot Safeguards into law, the first of its kind in the US. These require chatbot operators to implement safeguards around interactions with AI and gives families the right to pursue legal actions against developers. These are in effect in New York as well.
Clean-tech stocks have seen a dramatic rebound, outpacing many other stock indexes, even amid Donald Trump’s clampdown on US investments in clean energy.
Faith-based investors and institutional shareholders are pushing back against US government challenges to ESG.
Sustainability remains a top three priority on the C-suite agenda, alongside AI, according to Deloitte’s its 2025 C-Suite Sustainability Report.
ESG practices, like managing exposure to event-driven risks, can help reduce losses. Meanwhile, ESG funds have surpassed $3 trillion, despite the backlash, reports Bloomberg’s ESG Outlook.
Not everyone is bullish about defence tech at the moment; this Sifted piece warns that capitalising on war is a risky gamble, because the growth potential of dual-use technology is wholly dependent on geopolitics, given that it can’t be repurposed easily; read the deep dive that Sustainalytics has done on the ESG risks of investing in defence here (you can also have a look at our white paper 1, 2 (link to due diligence tool in paper 2).
Friend and partner publications and announcements:
Johannes, our CEO, and Paul, at Project Liberty Institute, had a conversation with Impact Share in Tokyo about the future of impact investing.
Ada Ventures Inclusive Alpha Report provides empirical evidence that talent is evenly distributed, even if opportunity is not, meaning that diverse founders presenting differently may still represent opportunities for Alpha.
Elaia’s Sustainability team dives into the open questions regarding energy consumption and AI, highlighting the opportunities that SLM present in reducing the overall energy burden of AI systems.
Travers Smith dives into the current landscape of defence investment in Europe, arguing that asset managers are in urgent need of clear guidance on human rights due diligence in defence.
Aon’s North American Head of Responsible Investing, Daniel E. Ingram, offers practical tips on how institutional investors can meaningfully integrate ESG into their decisions.
Schroders Capital outlines how sustainability, despite recent backlash, can present clear opportunities to directly enhance financial performance and drive long-term value creation in private equity
Interested in joining Reframe Venture? 🤝
If you’re a VC and not a member yet, find our updated membership deck, outlining the full suite of benefits, here or schedule a 1-on-1 information call with Priya! We would love to have you on board!
If you are an LP, reach out to Johannes directly at johannes@reframeventure.com and we will bring you into our community!