Cycle Capital and Demeter have closed its $160M Circular Innovation Fund, with the participation of anchor investor L’Oréal.

Circular Innovation Fund invests in growth-stage companies developing new materials, circular packaging, eco-efficient processes & design, and circular business models.

Cycle Capital is an impact investor and clean-tech venture capital investment platform with $600 million under management. Demeter Demeter is an investment platform dedicated to ecological transition and has over €1 billion under management. L’Oréal is a beauty company with a broad portfolio of 35 international brands and ambitious sustainability commitments.

“The joint-venture formed by Cycle Capital and Demeter platforms represents the perfect match for the Circular Innovation Fund investment strategy. Our dedicated team benefits from our undisputed expertise in ecological transition and circular economy, our international footprint and our track records as well as our best-in-class impact knowhow,” said Stéphane Villecroze, managing partner at Demeter.