Venture capital fund Una Terra announced that it has raised €50 million (USD$54.5 million) for its Circular Economy Growth Fund, aimed at investing in and scaling companies providing technologies to transform industries with circular models to eliminate waste and reduce greenhouse gas emissions.
Founded in 2021, Una Terra invests in growth-stage technology-led companies in Europe, the Middle East and North America with scalable models, particularly those in packaging, waste, food, fashion and the blue economy, which can add to its overall mission to transform entire industries through circular approaches.
The fund aims to accelerate circular economy solutions designed to cut plastic waste and reduce greenhouse gas emissions. Targets include removing one million tons of plastic waste – which is equivalent to around 100 billion plastic bottles – and avoiding two gigatons of carbon emissions.
Portfolio companies include Pulpex, which develops paper-based liquid packaging, Greyparrot, which applies artificial intelligence to waste analytics and Another Tomorrow, a circular fashion brand. Una Terra said that additional investments are in progress, with a final close of the fund expected in 2026.
Luca Zerbini, CEO and Managing Partner of Una Terra, said:
“We see sustainability not as a cost, but as an opportunity for additional value creation. We deliver superior investment returns whilst catalysing industries to transform into new powerful ecosystems, where sustainability can be monetized and creates significant economic and financial value.”
Investors participating in the €50 million close included Italy’s CDP Venture Capital through its Green Transition Fund, the Prince Albert II of Monaco Foundation, Deutsche Nachhaltigkeit and several family offices.
Oliver Wenden, Vice Chairman and CEO of the Prince Albert II of Monaco Foundation, said:
“Our future depends on our capacity to scale up solutions for more resilient societies in the face of climate change and biodiversity loss. We thus need more bold actions like Una Terra to reconcile economy, finance, and sustainability.”
