2025 Grain Management Responsible Investing Report

(December 17, 2025)

It is with great pride that we present this year’s Responsible Investing Report, highlighting a year of key initiatives across the Firm’s platform. In a landscape shaped by rapid technological change, Grain remained focused on thoughtful partnership with its portfolio companies, disciplined measurement, and efforts that expand access to essential digital infrastructure. Throughout the year, the Firm worked to strengthen the tools and data that guide our framework for stewardship.

In this year’s Report, David J. Grain reflects on the responsibility of investing with intention and the opportunity to widen access to connectivity, economic participation, and community resilience. His perspective underscores the importance of remaining grounded in the Firm’s core principles during a period of rapid industry and technological evolution. The 2025 Report invites readers to explore how Grain is advancing this work. The past year brought new opportunities to further the Firm’s sustainability goals, and Grain looks ahead with the same conviction as it continues building toward a more connected and resilient future.