Stichting Cardano Development is a Dutch foundation with a charitable status as an “institution for general benefit” (Algemeen Nut Beogende Instelling, ANBI). By charter, an ANBI may not have any ultimate beneficiary owners. Profits in the group add to retained earnings only.
Stichting Cardano Development owns 100% of Cardano Development B.V., which acts as the group’s holding and central financing vehicle. All operational entities of the group are held directly or indirectly by Cardano Development B.V.
Each subsidiary of Cardano Development operates with dedicated mandates that are separately funded by capital partners, and thus require a high level of autonomy from the rest of the group. Each has its own dedicated management team and supervisory function.
Foundation supervisory board and management board members do not receive any remuneration for the performance of their activities. They can be granted a compensation for the costs they reasonably incur in the performance of their duties (including a non-excessive attendance fee).
The ANBI Objective
Our objectives while operating on a not-for-profit basis is to promote and effect the democratization of financial markets, with a focus on frontier economies, in a socially responsible and financially sustainable way. For this purpose, it holds in its own name, to acquire and hold shares in the capital of Cardano Development B.V. and to exercise the voting rights and other rights pertaining to those shares and to raise funding for the acquisition of shares in the capital of Cardano development B.V.