The cosmetics producer has supplied over $54m for the first close of the $160m circular economy-focused vehicle, a joint venture for Cycle Capital and Demeter.
Canada-headquartered venture capital fund Circular Innovation Fund has reached a first close of its $160m debut vehicle with €50m ($54.4m) from cosmetics producer L’Oreal.
Circular Innovation Fund was formed as a joint venture by Canada-based impact investment firm Cycle Capital and Demeter, a France-headquartered VC firm concentrating on startups developing technologies centred on the forthcoming ecological transition.
The fund is targeting companies operating in the circular economy space and will invest in those working on circular business models as well…
