UB FIGG
led
EUR 36.6 million
investment round in traceless materials
United Bankers' UB Forest Industry Green Growth Fund I LP
("UB FIGG") investing in sustainable and resource efficient forest and bio-based industries has completed the previously announced investment in traceless materials
GmbH
("traceless"), a
Germany
-based company processing agricultural industry plant side-streams into fully biodegradable and home compostable, plastic-free natural biomaterials with applications for example in the packaging industry.
UB FIGG
led the
EUR 36.6 million
funding round complemented by
SWEN CP's Blue Ocean
fund, which invests in innovations that help address the three existential threats to ocean health: overfishing, pollution, and climate change. A local banking syndicate consisting of
GLS Bank
, Hamburg, and
Hamburger Sparkasse
also participated in the financing round, as well as the company's three existing investors, Greentech investor
Planet A Ventures
, seed investor High-Tech Gründerfonds (HTGF), and deep tech investor b.value.
More information on the financing round can be found in traceless press release www.traceless.eu/successful-funding-round.
UB FIGG
started its operations in
January 2023
with over
EUR 100 million
in investment commitments.
UB FIGG's
target size is
EUR 300 million
and the Fund accepts investments from professional investors until the target amount is reached or until
July 2024
.
About
UB FIGG
UB FIGG
is a private equity fund investing in companies focused on plastic and other fossil based material replacements, higher value and more efficient use of wood and agricultural raw material side streams and greater use of these raw materials across a wide range of intermediate and end uses. Through its investments, the Fund helps the forest and bio-based industries to create solutions to mitigate climate change.
UB FIGG
is a signatory of Operating Principles for Impact Management and reports on the environmental and climate impact of its investments.
www.unitedbankers.fi/en/ub-forest-industry-green-growth-fund
About traceless
The bioeconomy start-up traceless materials
GmbH
was founded in 2020 by Dr.
Anne Lamp
and
Johanna Baare
in Hamburg. The mission: to contribute to a regenerative, climate-friendly economy and a future free of plastic pollution. With their innovative technology, the company turns agricultural industry plant leftovers into natural biomaterials that are bio-based, home compostable, plastic-free and have a minimal ecological footprint. To realize the ecological potential, the technology is being scaled up from pilot scale to industrial scale.
www.traceless.eu
About
Blue Ocean
SWEN Capital Partners
is a leading player in responsible investment in private assets in
Europe
with more than
EUR 7.7 billion
under management, offering a wide range of investment programs for institutional and private clients. Since 2012, the management company has integrated ESG criteria into all of its asset management activities and has implemented a climate strategy since 2017. In 2021, it strengthened its actions in favor of fairer and more sustainable growth by launching
Blue Ocean
.
SWEN Capital Partners
is owned by the OFI Invest Groups, Crédit Mutuel Arkéa and part of its team. Since
January 2022
, they have been a co-shareholder of the NEC Initiative, the developer of a methodology allowing socio-economic actors to measure their contribution to the ecological transition towards a common goal: the construction of a responsible and sustainable economy.
www.blueoceanspartners.com
For further information:
Sakari Saarela
, Partner,
UB Forest Industry Green Growth Fund
Email: sakari.saarela@unitedbankers.com
Tel.: +358 40 767 4350
Anne Lamp
, Co-founder & CEO, traceless materials
GmbH
Email: anne@traceless.eu
Tel.: +49 176 44257717
Johanna Baare
, Co-founder & COO, traceless materials
GmbH
Email: johanna@traceless.eu
Tel.: +45 31 63 62 82
United Bankers in brief:
United Bankers Plc
is a Finnish expert on wealth management and investment markets, established in 1986.
United Bankers Group's
business segments include wealth management and capital markets services. In asset management, the Group specializes in real asset investments.
United Bankers Plc
is majority-owned by its key personnel and the Group employs 163 employees (FTE) and 31 agents (
30 June 2023
). In 2022, the
United Bankers Group's
revenue totalled
EUR 48.6 million
and its adjusted operating profit amounted to
EUR 16.6 million
. The Group's assets under management amount to approximately
EUR 4.6 billion
(
30 June 2023
).
United Bankers Plc's
shares are listed on
Nasdaq Helsinki Ltd.
The Group companies are subject to the
Finnish Financial Supervisory Authority's
supervision. For further information on
United Bankers Group
, please visit www.unitedbankers.com.
DISTRIBUTION:
Main media
www.unitedbankers.com
https://news.cision.com/united-bankers-oyj/r/ub-figg-led-eur-36-6-million-investment-round-in-traceless-materials,c3841142
https://mb.cision.com/Public/19703/3841142/aade7df46584bff7.pdf
