Capital for Scale Programme Terms and Conditions

Version 1.0, 1 November 2026

1. Provider

1.1 Capital for Scale, The European Allocator Fellowship (the “Programme”) is provided by Venture Connections OÜ, registry code 16543116, Pärnu mnt 10, 10148 Tallinn, Estonia (“we”, “us”), and delivered with our programme partner Allocator Lens.

1.2 These Terms apply between us and the organisation named as the invoice recipient in the registration form (the “Customer”), and they apply to each participant the Customer registers (the “Participant”).

2. Eligibility and booking

2.1 The Programme is open only to professionals employed by, or acting for, asset owners and allocators. It is not open to people attending to raise capital, market funds or sell services.

2.2 Submitting the registration form is a booking request. We review every request and may decline any of them without giving reasons. No fee is payable for a declined request.

2.3 A binding contract is formed only when we accept a booking in writing. An automated receipt acknowledging submission does not constitute acceptance. The person submitting the form confirms that they are authorised to commit the Customer and have obtained the necessary internal approvals.

2.4 A registration marked as awaiting approval or requiring another authoriser is an expression of interest only and creates no booking or payment obligation. An authorised representative must complete the required booking declarations before we can accept the booking.

2.5 The Customer confirms that the information supplied is complete and accurate to the best of its knowledge and agrees to ensure the Participant’s compliance with the participation requirements in these Terms.

3. The Programme

3.1 Cohort 1 consists of six online sessions of 90 minutes, two online clinics and an in-person closing session with dinner, held between January and March 2027 on the dates published on the Programme page.

3.2 Each cohort is limited to a maximum of 20 participants.

3.3 We may make reasonable changes to faculty, session order, timing, platform or venue where needed, while preserving the Programme’s overall purpose and scope. We will tell Participants and the Customer of any material change in good time.

4. Fees and payment

4.1 The fee is EUR 5,000 per Participant, plus VAT where applicable. For business customers in other EU member states, the reverse-charge mechanism applies when a valid VAT number is provided.

4.2 We invoice the Customer on written acceptance. Payment is due within 14 days of the invoice date, and in any case before the first session.

4.3 If payment has not been received by the first session, we may suspend the Participant’s access until it is received. The fee remains payable.

4.4 The fee covers the online sessions, clinics, Programme materials and the closing session with dinner. Travel and accommodation for the closing session are the Customer’s own cost.

4.5 The Customer must provide accurate billing information and notify us before acceptance of any procurement requirement that prevents it from entering into the booking. After acceptance, purchase order or supplier onboarding delays do not change the payment deadline unless agreed in writing.

5. Cancellation, transfers and refunds

5.1 No cancellation. Once accepted, a booking cannot be cancelled by the Customer, and the fee is not refundable except as these Terms state.

5.2 Transfers. With our prior written consent, the Customer may transfer a place to another person who meets the eligibility criteria and accepts these Terms, at no extra cost. We may also, at our discretion, agree to move a place to a later cohort.

5.3 Ineligibility after acceptance. If, after accepting a booking, we reasonably determine that a Participant does not meet the eligibility criteria, we may withdraw the place by written notice.

6. Use of names and logos

6.1 Public identification of a Participant by name, role or organisational affiliation requires the Participant’s separate permission in the registration form or in writing. Use of the Customer’s name or logo requires a separate opt-in from a representative authorised to give that permission on the Customer’s behalf. A Participant’s personal permission alone does not authorise use of the Customer’s name or logo.

6.2 Where that permission is given, the Customer grants us a non-exclusive, royalty-free right to use its name and any logo or materials it voluntarily provides for that purpose, solely to acknowledge its participation and communicate about the Programme. Permitted channels include the Programme website, social media, newsletters, reports, publications, presentations and event materials. We will respect any brand guidelines supplied. Providing materials alone does not replace the separate permission.

6.3 Participation will not be described as a partnership, sponsorship or endorsement without separate written agreement. Photographs, testimonials and recordings require separate permission where applicable and are not authorised by these Terms.

6.4 Permission can be withdrawn at any time for future use by writing to scala@ventureconnections.co. We will cease new use and remove the relevant materials from channels under our control within a reasonable period, normally 30 days. Already distributed print materials need not be recalled, and we cannot guarantee removal of copies independently retained or shared by third parties. Withdrawal does not affect lawful use before withdrawal.

7. Conduct and confidentiality

7.1 All sessions, clinics and the closing event are held under the Chatham House Rule. Participants may use the information they receive, but may not reveal the identity or affiliation of any speaker or participant.

7.2 Participants must not take photographs, screenshots, or audio or video recordings of any part of the Programme, and must not use AI note-taking or transcription tools during sessions.

7.3 Participants must treat non-public information shared by other participants about their portfolios, managers and investment plans as confidential, use it only for Programme learning and discussions, and not disclose it outside the Programme without the disclosing party’s prior consent. This obligation continues after participation ends. It does not apply to information that is lawfully public, already lawfully known, independently developed or lawfully received without restriction. Disclosure required by law is permitted; where lawful, the disclosing party should be notified beforehand. Participants should not share personal data, investment-sensitive information or third-party confidential material unless authorised to do so.

7.4 Participants must not use the Programme to solicit investment or sell products or services to other participants or faculty. They must treat others respectfully, avoid harassment or discrimination, and not misuse other participants’ contact details.

7.5 If a Participant seriously or repeatedly breaches this clause 7, we may remove them from the Programme without refund, after giving them notice and an opportunity to respond where practical. Immediate suspension may be necessary for serious misconduct or to protect others. Good-faith criticism or disagreement alone is not grounds for removal.

8. Programme materials

8.1 Programme materials remain the property of Venture Connections OÜ, Allocator Lens or the relevant faculty member.

8.2 The Customer may use the materials and the Participant’s own work product internally, including in internal briefings for colleagues, committees, boards and trustees. The materials may not be resold, published or shared outside the Customer’s organisation without our written consent.

9. No investment advice

9.1 The Programme is educational. Nothing in it is investment, legal, tax or regulatory advice, or a recommendation to invest in any fund, company or product. Faculty speak in a personal capacity, and their views are their own.

10. Liability

10.1 Our total liability in connection with the Programme is limited to the fees the Customer has paid for the Participant concerned.

10.2 We are not liable for indirect or consequential loss, or for loss of profit, revenue or opportunity.

10.3 Nothing in these Terms limits liability that cannot be limited by law, including liability for intent or gross negligence.

11. Data protection

11.1 We process personal data as described in the Capital for Scale Privacy Notice https://www.ventureconnections.co/capital-for-scale/privacy .

11.2 Routine Programme and billing communications are separate from optional marketing. Marketing, personal publicity and use of the Customer’s name or logo require the separate permissions described in the registration form and these Terms. Declining or withdrawing optional permissions does not affect eligibility or participation. Acceptance of these Terms is not an opt-in to those uses and does not authorise disclosure of applicant details to sponsors for their independent marketing.

12. Events beyond our control

12.1 We are not liable for any failure or delay caused by events beyond our reasonable control. Where such an event prevents a session from taking place, we will reschedule it or provide an equivalent alternative.

13. Governing law and jurisdiction

13.1 These Terms are governed by the laws of Estonia. Disputes will be settled by Harju County Court in Tallinn, unless mandatory law provides otherwise.

14. General

14.1 These Terms, the accepted booking and the registration form are the entire agreement between us and the Customer about the Programme.

14.2 We may update these Terms for future cohorts. The version accepted at registration applies to that booking. Material changes affecting an existing booking require the Customer’s express agreement, unless required by law. We will notify the Customer before such changes take effect wherever reasonably possible.

14.3 Notices to us go to scala@ventureconnections.co