Infinity Recycling (“IRC”), an growth capital platform investing in circular economy solutions, is pleased to announce the fifth close of its Circular Plastics Fund I SCSp (“CPF”) in December 2023. With the onboarding of three new institutional Limited Partners, the fund has reached EUR 135 million in committed capital from a wide range of institutional investors based in Europe and beyond.
The CPF, with an initial target size of €150 million and backed by a broad range of international investors, is an Article 9 ‘dark green’ impact fund under the EU’s Sustainable Finance Disclosure Regulation. Its investments aim to accelerate the transition to a circular economy of plastics by scaling up advanced recycling technology companies with strong growth prospects that transform plastic waste streams into primary commodities used to produce new plastics. The contribution of the fund’s investors will expedite the commercialisation of the advanced recycling market, playing a role in enabling a circular economy for plastics and contributing to decarbonisation across the industry.
The new LP’s include Investeringsfonds Groningen (“IFG”)
“For IFG, the investment is obvious”, says fund manager Jan Timmer. “In the Northern Netherlands we want to move from fossil to circular and sustainable and are always looking for the best way to achieve that goal. Setting up a green chemistry plant is extremely capital intensive, so it makes sense that we look at funds like CPF. Especially because it does not only provide capital, but also expertise and advice that the entrepreneurs in Groningen can benefit from.”
Since the fund’s launch in February 2022, the team has gained momentum and made significant inroads by investing in five portfolio companies, with three follow-on investments and over EUR 40 million AUM. IRC’s ability to support promising technologies with both the capital and operational expertise required for long term value creation, helps deliver private equity returns and proven impact. The strong collaborative nature of its investment strategy means that IRC has positioned itself as a trusted and critical partner in the transition to a circular economy of plastics.
“The strong interest from institutional investors, keen to make an environmental impact, is a clear endorsement of our mission: catalysing the world’s transition to a circular economy of plastics. We are thankful for the support from new limited partners such as IFG, who have recognised Infinity Recycling’s differentiated investment focus”, shared Jeroen Kelder, Managing Partner at Infinity Recycling
About Infinity Recycling
Infinity Recycling BV was established in 2019 to create markets for end-of-life waste streams by investing in advanced technologies that enable circularity in the plastics industry. Their first offering, the Circular Plastics Fund, contributes to solving the plastic waste problem and unlocking much-needed capacity in high- in-demand recycled commodities. The fund implements a return and impact-driven investment strategy that drives value creation in advanced recycling and accelerates the transition to a circular economy for plastics. Building on the momentum in investor interest and deployment, the fund is well on its way to final closing, projected for Q4 2023.