NETHERLANDS – Infinity Recycling (IRC), a growth capital platform specializing in circular economy solutions, proudly announces that its Circular Plastics Fund (CPF) has successfully secured €135 million (US$147.21 million) in committed capital from a diverse range of institutional investors situated in Europe and beyond.
Originally targeting €150 million (US$163.56 million), the CPF stands out as an Article 9 “dark green” impact fund in alignment with the EU’s Sustainable Finance Disclosure Regulation.
Notably, “dark green” funds are those explicitly dedicated to environmental investment objectives.
The fund’s primary goal is to expedite the transition to a circular economy for plastics by scaling up advanced recycling technology companies with robust growth prospects.
These companies play a pivotal role in transforming plastic waste streams into primary commodities for the production of new plastics.
Among the latest contributors is Investeringsfonds Groningen (IFG). Fund manager Jan Timmer explains, “For IFG, the investment is obvious. 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.”
The investors involved in CPF are expected to drive the commercialization of the advanced recycling market, fostering a circular plastics economy and actively contributing to industry-wide decarbonization.
Since its launch in February 2022, the CPF team has made significant strides, investing in five portfolio companies, with three subsequent investments and managing over €40 million (US$43.62 million) in assets.
IRC’s unique ability to support promising technologies with the necessary capital and operational expertise positions it as a key player in delivering private equity returns and validated impact.
Jeroen Kelder, Managing Partner at Infinity Recycling, expresses gratitude for the support from new limited partners, stating, “The strong interest from institutional investors, keen to make an environmental impact, is a clear endorsement of our mission: catalyzing 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 recognized Infinity Recycling’s differentiated investment focus.”
Earlier, the Circular Plastics Fund secured a noteworthy €50 million (US$54.53m) investment from the European Union’s European Investment Fund.
This transaction received support from the InvestEU program, designed to mobilize over €372 billion (US$405.68bn) in additional investment for EU policy priorities throughout the 2021-27 period, along with backing from the European Investment Bank.
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