Cycle Capital and Demea Sustainable Investment, managers of the Circular Innovation Fund, announce the appointment of Marius Thebault as principal.
MONTREAL, Quebec, January 27, 2026 – The Circular Innovation Fund (CIF) – a global venture capital fund focused on circular innovation and jointly managed by European-based Demea and North American-based Cycle Capital, is pleased to announce the appointment of Marius Thebault as Principal.
“We are pleased to announce Marius’s progression into new responsibilities, reflecting his commitment and expertise. We are excited to support him in this new phase of his professional growth,” says Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital and Stéphane Villecroze, Co-founder and Managing Partner of Demea.
Marius Thebault joined Circular Innovation Fund in April 2023 as an Associate. Prior to joining the fund, Marius began his career at Eiffel Investment Group, one of France’s largest private debt platforms, where he focused on fintech financing. At CIF, Marius plays a key role in the fund’s deployment and portfolio management, building strong relationships with founders and stakeholders across the European deep tech landscape. Marius holds a Master in Management and an MSc in Finance from Grenoble Ecole de Management.
About Circular Innovation Fund
The Circular Innovation Fund (“CIF”) is a global venture capital fund focused solely on circular innovation. It is a joint venture between leading cleantech capital managers – Paris-based Demea and Montreal-based Cycle Capital. 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: www.circularinnovationfund.com
About Cycle Capital
Founded in 2009, Cycle Capital is a leading venture capital firm that manages a platform of seven funds investing in North America and Europe. Cycle Capital has two venture growth stage funds in deployment: Cycle Capital Fund V dedicated to DeepTech: microelectronics, photonics, internet of things digitalization and energy efficiency, and Circular Innovation Fund dedicated to circularity and new materials. Through its Cycle H2O Fund (WaterTech) and its Cycle Momentum initiative, Cycle Capital supports the emergence of cutting-edge technologies at the seed/early stage within the ecosystem.
For more information no Cycle Capital, visit: https://cyclecapital.com/en/
Demea Sustainable Investment
Demea Sustainable Investment is a major European player in venture capital, development capital and infrastructure investment in the energy and ecological transition. Its funds invest from €1 to €30 million to support companies in the sector at all stages of their development: innovative startups, small and medium-sized enterprises, infrastructure projects. Demea’s 38-strong team, based in Paris, Lyon, Bordeaux, Madrid and Düsseldorf, manages €1.3 billion and has made 230 investments in 17 years.
For more information on Demea, visit: www.demea.com