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The Circular Innovation Fund is a global venture capital firm jointly managed from Montreal and Paris that invests exclusively in growth-stage companies developing circular economy solutions. The firm targets equity investments across North America, Europe, and Asia in sectors such as breakthrough materials, circular packaging, recycling innovations, and sustainable business models. At its initial close, the fund raised €150 million, supported by co-manager Cycle Capital which currently oversees $600 million in total assets under management. This investment vehicle is backed by anchor investor L'Oréal alongside strategic limited partners including Claridge Inc. and Masonite, and has already deployed over $50 million into the Closed Loop Venture Fund II. The Circular Innovation Fund was established in 2022 through a joint partnership between European firm Demeter and North American firm Cycle Capital, which is led by founder Andrée-Lise Méthot.
Key people at Circular Innovation Fund.
The Circular Innovation Fund is jointly managed by Cycle Capital and Demeter, both of which are leading cleantech capital managers.
The Circular Innovation Fund primarily operates as a global growth-stage venture capital fund, though it also supports pre-seed and seed-stage companies through its acceleration program.
The Circular Innovation Fund is jointly managed by Cycle Capital and Demeter, both of which are leading cleantech capital managers.
The Circular Innovation Fund primarily operates as a global growth-stage venture capital fund, though it also supports pre-seed and seed-stage companies through its acceleration program.
The Circular Innovation Fund (CIF) is a global venture capital entity established in 2022, dedicated to advancing the circular economy. It operates as a growth-stage fund, strategically investing in companies that offer innovative solutions for circularity and climate change mitigation. The fund's mandate is to support the development and scaling of technologies and business models that reduce waste, optimize resource use, and minimize environmental impact.
CIF is jointly managed by Cycle Capital and Demeter, both recognized leaders in cleantech capital management. This partnership brings together extensive experience and networks within the sustainable technology sector, enabling CIF to identify and nurture high-potential ventures. The fund's investment approach is designed to provide capital and strategic support to companies poised for significant growth and market impact.
Beyond direct investment, CIF also engages with earlier-stage companies through initiatives like the Circular Innovation Fund Acceleration Program. Operated by Cycle Momentum, this program is designed to nurture selected pre-seed and seed-stage companies, providing them with resources and guidance to develop their circular solutions. This dual approach allows CIF to influence innovation across different stages of company development.
An example of CIF's investment activity includes leading Evoco's CA$12 million Series B round. This investment highlights the fund's interest in companies developing innovative plant-based materials that can reduce carbon emissions without compromising performance. Such investments align with CIF's overarching goal of fostering sustainable industrial practices and material innovation.
Headquartered in Montreal, Quebec, the Circular Innovation Fund plays a role in the global venture ecosystem by channeling capital towards solutions that address pressing environmental challenges. Its focus on circular innovation positions it as a key financial partner for companies aiming to build a more sustainable and resource-efficient future.
Key people at Circular Innovation Fund.
Circular Innovation Fund has 2 tracked investments across 2 companies. The latest tracked deal is $328.0M Seed in Nanomox in February 2026.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Feb 10, 2026 | Nanomox | $328.0M Seed | Boast Trading, TSP Ventures | EIT RawMaterials, Imperial College, Innovate UK, SNØCAP VC |
| Mar 1, 2024 | watttron | $13.0M Series B | Circular Innovation Fund | Technologiegründerfonds Sachsen (tgfs), Rico Kleinhempel, Cycle Capital Management, Stéphane Villecroze |
