Confidential

Bridges Outcome Partnership — DD / KYC

Delivery Partner Due Diligence for SweetSense, Inc. (dba Virridy) & Virridy Carbon LLC. Contacts: Marina, Faith (Head of Compliance).

📁 Open Drive folder
Last updated: 17 July 2026
30
Documents provided
2
Actions outstanding
0
Drafts awaiting review
1
Documents still to produce

Documents to produce — SPV ownership evidence pending

Still to produce
  • Partial
    SPV / Accord Capital ownership evidence
    Confirms Kevin Webb owns/controls SweetSense SPV, LLC — evidences the UBO look-through (Tab 2 C8/C9). 17 Jul: Chris Lackner (Accord) is obtaining the SPV operating agreement from their accountants; expected imminently. Lackner also confirmed in writing that no one associated with the SPV is or has been a PEP in the last 12 months.
    Owner: Evan → Chris Lackner (Accord)

Actions outstanding

  • Partial
    Confirm professional indemnity / E&O insurance
    Broker (Northrup, 7 Jul): no standalone Professional Liability policy, but a Chubb Cyber / Tech E&O policy is in place — #D52691072, SweetSense, Inc. dba Virridy, period 26 Jan 2026–26 Jan 2027, Tech E&O limits $1M each claim / $1M aggregate, retroactive date 1/1/2012. Filed: Chubb Tech E&O policy. Proposed to satisfy the professional-indemnity requirement; a dedicated professional-liability quote is additionally being pursued through the broker. (GL, auto, umbrella, workers’ comp + D&O already on file.)
    Owner: Evan + Northrup
  • Partial
    Certification of corporate documents — approach decided
    Document authenticity can be verified directly with company counsel, Wilson Sonsini Goodrich & Rosati, on request.
    Owner: Evan
📝 Draft questionnaire workbook is populated
The real Excel is filled across Tabs 1, 2A, 3, 3A and 3B. 17 Jul: all sections answered and entered. The current draft covers the legal representations, AML/CFT, data protection, H&S, workforce, and environmental sections, with financial-stability confirmations from the Mar 2026 balance sheet and registry facts verified against the Oregon Secretary of State. Remaining TBC in the workbook: professional-indemnity confirmation and the board resolution (to be executed at transaction approval stage). Finance manual answered No (board budget process); procurement policy attached; policy-review cadence answered (staff review annually ahead of board meetings, plus counsel review); cost-per-beneficiary references the Virridy Carbon financial model. File in Drive: 07-filled-questionnaire / Delivery Partner DD Questionnaire - Virridy DRAFT 2026-07-17.xlsx ↗.

Documents already provided — in the Google Drive folder

01 · AML / KYC corporate documents
02 · Director / shareholder ID
  • Done
    Evan Thomas — US Passport ↗
    Verified & current, on file as a scan. Re-capture no longer required: Faith confirmed 17 Jul that certified ID is needed only for the 25%+ beneficial owner (Webb, on file).
03 · Policies
  • Provided
    Virridy Employee Handbook (Feb 2024) ↗
    Covers anti-bribery/FCPA, whistleblowing, IT security, anti-harassment, EEO/DEI, ESG. Inventoried against Bridges’ policy list.
  • Provided
    SweetSense Procurement Policy ↗
    Competitive bidding, purchase thresholds, CEO approval + cross-approval for CEO purchases, Fly America travel rules (Tab 3B; ~Apr 2024)
  • Provided
    Insurance — Chubb D&O, CU liability COI, Oka carbon-credit insurance
    D&O $1M; General liability $1M/$2M + $5M umbrella + workers’ comp $1M; Oka Article-6 “Corresponding Adjustment Protect” on ~41,576 Rwanda credits (~$831k insured) · Files: Chubb D&O, endorsement, CU COI, Oka policy
04 · Financials
  • Provided
    Balance Sheet — FY2025 & Mar 2026
    Solvent; zero long-term debt (unaudited management accounts) · Files: FY2025, Mar 2026
  • Provided
    Profit & Loss — FY2025 and FY2021–2025
    3-year turnover & net income series · Files: FY2025, FY2021–2025
05 · References
Provided Partial Pending To produce Ask Bridges

Questionnaire tabs

Tab 1 · Basic InfoComplete
Complete; cost-per-beneficiary + projections reference the Virridy Carbon financial model.
Tab 2 · AML Doc ChecklistPartial
Org docs complete; ID scope resolved 17 Jul (Webb only) and Webb's ID filed; SPV operating agreement in transit.
Tab 2A · AML KYCDraft ready
Filled; board resolution to be executed at transaction approval stage.
Tab 3 · Policy ChecklistDraft ready
Complete; insurance program recorded; only professional indemnity to confirm.
Tab 3A · Env & SocialComplete
All 72 questions answered.
Tab 3B · BI & GovernanceComplete
All sections answered, including the representations.

Key facts — reference

Investee
Virridy Carbon LLC (Delaware LLC)
Parent / operating entity
SweetSense, Inc. (dba Virridy) — Oregon C-corp, 100% owner of the LLC
Beneficial owner (≥25%)
Kevin Webb only, via SweetSense SPV / Accord Capital (35%). Evan Thomas holds 17.68% (below 25%) — not a UBO; director & authorized signatory.
Directors
Thomas, Garan, Mortenson, Webb, Lackner (all US nationals)
PEP status
None
Subsidiaries
Virridy Carbon LLC, Virridy Rwanda Ltd, SweetSense Africa Ltd, Virridy Digital LLC, Virridy Water LLC