Venture capital firm Una Terra has raised €50 million ($54.5 million) for its Circular Economy Growth Fund, positioning itself as a catalyst for technologies designed to curb waste and cut greenhouse gas emissions.
The fund, launched in 2021, targets growth-stage companies in Europe, North America, and the Middle East that can re-engineer sectors such as packaging, food, fashion, waste management, and the blue economy toward circular models.
The capital injection comes amid rising investor interest in circularity as a lever for decarbonization and resource efficiency. While governments in the EU and beyond are tightening regulations on single-use plastics and industrial waste, the sector remains capital-intensive, with long lead times to achieve commercial scale.
Una Terra’s strategy aims to bridge this gap by backing technologies with measurable impact potential, including the removal of one million tons of plastic waste—equivalent to roughly 100 billion bottles—and avoidance of two gigatons of carbon emissions.
Portfolio holdings illustrate the breadth of its thesis. Pulpex, a U.K.-based venture, is developing paper-based bottles to replace plastic packaging in beverages and personal care. Greyparrot applies AI to improve the accuracy and efficiency of waste sorting, while fashion label Another Tomorrow is building circularity into clothing design and resale. Una Terra said further deals are underway, with the fund’s final close planned for 2026.
CEO and Managing Partner Luca Zerbini framed the effort as a shift in how sustainability is valued. Backers of the first close include Italy’s CDP Venture Capital via its Green Transition Fund, the Prince Albert II of Monaco Foundation, Deutsche Nachhaltigkeit, and several European family offices.
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