Title: United Bankers’ UB FIGG Leads €36.6 Million Investment Round in traceless materials
Introduction
United Bankers Plc’s UB Forest Industry Green Growth Fund I LP (UB FIGG) has successfully completed its investment in traceless materials GmbH, a Germany-based company specializing in the production of fully biodegradable and home compostable natural biomaterials. The investment round, totaling €36.6 million, was led by UB FIGG and supported by various other institutional investors, including SWEN CP’s Blue Ocean fund. This funding will enable traceless to further its mission of contributing to a regenerative, climate-friendly economy that is free of plastic pollution.
Investment Details
UB FIGG, a private equity fund focused on sustainable and resource-efficient forest and bio-based industries, spearheaded the investment round in traceless materials. The fund aims to invest in companies that promote plastic and fossil fuel replacements, as well as the efficient utilization of wood and agricultural raw material side streams.
In addition to UB FIGG, SWEN CP’s Blue Ocean fund also participated in the funding round. Blue Ocean is dedicated to investing in innovations that address the three significant threats to ocean health: overfishing, pollution, and climate change. A local banking syndicate comprising GLS Bank, Hamburg, and Hamburger Sparkasse, along with traceless’ existing investors, Planet A Ventures, HTGF, and b.value, also contributed to the financing.
About traceless materials
traceless materials GmbH is a bioeconomy start-up that was founded in 2020 by Dr. Anne Lamp and Johanna Baare in Hamburg, Germany. The company is committed to creating a future that is free from plastic pollution while promoting a regenerative, climate-friendly economy. traceless leverages innovative technology to transform agricultural plant leftovers into natural biomaterials. These materials are biobased, home compostable, free from plastics, and have a minimal ecological footprint. The funding from UB FIGG and its investors will support traceless in scaling up from pilot scale to industrial-scale production.
The Role of Blue Ocean Fund
SWEN CP’s Blue Ocean fund plays a crucial role in the investment round. As a leading player in responsible investment in private assets in Europe, the fund manages over €7.7 billion and integrates environmental, social, and governance (ESG) criteria into its asset management activities. Blue Ocean aims to foster fairer and more sustainable growth by investing in groundbreaking initiatives. By participating in the funding round for traceless, Blue Ocean reinforces its commitment to tackling the key challenges facing the world’s oceans.
About UB FIGG
UB FIGG is a private equity fund that focuses on investments in companies dedicated to reducing reliance on plastic and fossil-based materials. The fund aims to promote the use of sustainable wood and agricultural raw materials across various industries. By supporting these investments, UB FIGG helps the forest and bio-based industries develop solutions that mitigate the impact of climate change. UB FIGG is also a signatory of the Operating Principles for Impact Management and prioritizes reporting on the environmental and climate impact of its investments.
Conclusion
The successful investment round led by UB FIGG in traceless materials GmbH paves the way for the development and adoption of fully biodegradable and plastic-free natural biomaterials. By supporting traceless in its mission, UB FIGG and its investors contribute to a regenerative and climate-friendly economy while addressing the issue of plastic pollution. This funding will enable traceless to scale up its operations and bring sustainable biomaterials to industries such as packaging, providing a viable alternative to conventional plastics.