Circular economy investor Closed Loop Partners’ venture capital group, the Closed Loop Ventures Group, announced the close of Closed Loop Venture Fund II, its second fund, raising more than $50 million. The fund aims to invest in breakthrough circular economy solutions in areas ranging from plastics and packaging to fashion, food, and agriculture, and supply chain technology.
Ron Gonen, Founder, and CEO of Closed Loop Partners, said:
“Closed Loop Ventures Group enables Closed Loop Partners to activate the most innovative solutions emerging in the Circular Economy and provide those solutions the full support of the Closed Loop Partners network.”
Closed Loop Partners is an investment firm comprised of venture capital, growth equity, private equity, project-based finance, and an innovation center focused on building the circular economy. The firm’s venture capital arm, launched in 2017, targets innovations in material science, robotics, agritech, sustainable consumer products, and technologies that further the circular economy.
The Closed Loop Venture Fund II builds on the venture capital group’s first fund’s strategy. Both funds aim to shift away from linear and extractive supply chains toward waste-free circular systems. The Ventures Group’s range of investors includes Microsoft, GS Group, Autodesk Foundation, and offices from across the U.S., Asia, and Israel.
Brandon Middaugh of Microsoft’s Climate Innovation Fund, an investor in Closed Loop Partners’ funds, said:
“At Microsoft, we’re advancing a more sustainable and resilient way of producing and consuming products and services. The breakthrough solutions that the Closed Loop Ventures Group invests in helping pave the way toward a more circular future, one that aligns with our vision of a zero-waste world. Our investment in the Ventures Group’s Fund II is a key part of our efforts toward our 2030 zero waste goals, driven by the innovators and emerging companies that help make this possible.”
To date, the second fund has invested in solutions across supply chain technology, food & agriculture, and fashion, in companies including Partsimony, which offers a SaaS network that helps product designers to manufacture more locally and with more sustainable materials, and ucrop.it, which operates a traceability platform to incentivize supply chain transparency, best agricultural practices, and greater value sharing.
Danielle Joseph, Managing Director of the Closed Loop Ventures Group at Closed Loop Partners, said:
“The successful raise of Closed Loop Partners’ second venture fund signals the increasing understanding that circular supply chains represent the future of industry and materials. We are seeing more founders building businesses in the circular economy, and a growing need for early-stage capital. We look forward to collaborating with the broader venture capital community, fostering transparency and open insight sharing to advance breakthrough innovations.”