Circular Innovation Fund announces the addition of EDC as a new Limited Partner

Montreal and Paris, November 1, 2023 – Circular Innovation Fund (CIF) – a global venture capital fund focused on circular innovation and jointly managed by European-based Demeter and North American-based Cycle Capital, is pleased to announce the addition of Export Development Canada (EDC) as Limited Partner (LP). 

EDC joins CIF, which is backed by L’Oreal and a broad range of investors, including Masonite, Fonds de solidarité FTQ, strategic investor Axens, family offices including Haltra and Claridge, as well as institutional investors, private investors and the managers. EDC’s addition brings CIF’s total fundraising amount to $160M, with the final close expected in the coming months. 

Since 2022, CIF has been dedicated to scaling circular, sustainable and profitable growth-stage companies from North America, Europe and Asia with direct investments into Lizee and Evoco and indirect investments in Closed Loop Partners and Europe Circular Bioeconomy Fund (ECBF). CIF aims to positively contribute to climate change mitigation and circular use of resources across various sectors, including new materials, packaging, recycling & waste, logistics, eco-efficient processes & design. CIF is an impact innovation fund classified as Article 9 under the EU’s Sustainable Finance Disclosure Regulation (SFDR).

“We are very pleased to have EDC, a long-time partner of Cycle Capital, join CIF as a new LP. EDC has supported innovative climatetech companies for many years, and we look forward to working with them to scale and grow innovative startups deploying technologies or business models that have a circular impact on the economy,” said Andrée-Lise Méthot, Founder and Managing Partner at Cycle Capital.

“With the CiF management team, we are honoured to have EDC joining as a new investor. It obviously reinforces the fund’s power and competencies to support the most promising champions of the circular economy,” said Stéphane Villecroze, Co-founder & Managing Partner at Demeter

Circular Innovation Fund

The Circular Innovation Fund (“CIF”) is a global growth stage venture capital fund focused solely on circular innovation. It is a joint venture between leading cleantech capital managers – Montreal-based Cycle Capital and Paris-based Demeter. The fund invests in growth-stage companies from North America, Europe and Asia, developing breakthrough new materials, circular packaging, recycling and waste innovations, logistics, as well as eco-efficient processes & design, and circular business models. For more information on the Circular Innovation Fund, visit:

Cycle Capital

Cycle Capital is a leading ClimateTech venture capital platform scaling impactful sustainable innovation. Founded in 2009, Cycle Capital invests across North America, Europe and Asia in growing companies commercializing solutions to address major ecological challenges and advance the net-zero transition. Cycle Capital is the founder of Cycle Momentum Accelerator + Innovation Engine. Cycle Capital has developed an ESG and impact assessment methodology integrated into the investment workflow from the pre-investment phase to the exit of the portfolio company. For more information on Cycle Capital, visit:

Demeter is a major European investment platform dedicated to ecological transition. Demeter has over €1.2 billion under management and has carried out 200 investments since 2005. It invests €1m to €30m to support companies at all stages of development: innovative startups, high growth SMEs and infrastructure projects. Its team of 38 is based in Paris, Lyon, Bordeaux, Grenoble, Metz, Madrid and Düsseldorf. Demeter is a responsible and committed investor, signatory of numerous initiatives such as PRI (Principle for Responsible Investment), CDP (Carbon Disclosure Project), iC20, The Shift Project, and initiatives for gender diversity. All Demeter funds since 2021 are classified “Article 9” under the framework of the new European Sustainable Finance Disclosure Regulation (SFDR). For more information on Demeter, visit:

Catherine Bérubé
[email protected]
+1 514 629-1022