Cleantech-focused capital managers Cycle Capital and Demeter have held the first close of the new $160 million (€150 million) Circular Innovation Fund (CIF) with participation from anchor investor L’Oréal.
With this fund, the managers will look to scale circular, sustainable and profitable growth stage solutions from North America, Europe and Asia that positively contribute to climate change mitigation and circular use of resources across various sectors including new materials, packaging, recycling & waste, logistics, eco-efficient processes & design.
The fund will capitalise on the managers’ experience of investing in venture, private equity and infrastructure in cleantech to the growing need for market-ready solutions to convene capital towards talented entrepreneurial teams that are deploying those innovations.
CIF is an impact innovation fund classified as Article 9 under the EU’s Sustainable Finance Disclosure Regulation.
