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UB FIGG led EUR 36.6 million investment round in traceless materials

OpinionsUB 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 Super visory Authority’s supervision. For further information on United Bankers Group, please visit www.unitedbankers.com.