New York City-based Closed Loop Partners (CLP), a firm focused on investments to develop the circular economy, has announced that it has invested more than $43 million across 28 investments in its 2017 Impact Report.
The investments have been made from its two primary funds, The Closed Loop Fund and Closed Loop Ventures. Closed Loop Fund has attracted more than $100 million in co-investment and generated more than $15 million in local economic development. For every $1 invested, CLP says the portfolio will generate 220 pounds of recyclables returned to the supply chain and 654 pounds of greenhouse gas emissions will be avoided by 2025.
CLP CEO Ron Gonen says, “Our investors include the world’s largest retailers and consumer goods companies. Our investments are proving that manufacturing using recycled material lowers costs. Robust recycling infrastructure in North America reduces disposal costs for municipalities, creates local jobs and provides companies the ability to manufacture at a lower cost than relying on raw materials.”
Since 2015, CLP says its Closed Loop Fund portfolio has significantly increased supply of recyclables by improving access in markets, including Memphis, Tennessee; Pensacola, Florida; Scott County, Iowa; and Waterbury, Connecticut. It also has optimized domestic supply chains, despite challenging export markets, and catalyzed additional capital into the sector, the organization says.
Closed Loop Ventures, launched in 2016, has a portfolio of 11 companies solving for organic, plastic and textile waste challenges.
“In a short time, we’ve seen enough success to make second and third investments in some of our portfolio companies,” says Gonen.
Additionally, CLP says it launched the Center for the Circular Economy, its incubator, convening center and solution search practice focused on the circular economy. The new center was created to help solve challenging supply chain issues and spur additional innovation and investment opportunities, the partnership says.
View the complete impact report here.
CLP houses the Closed Loop Fund and Closed Loop Ventures.