Capricorn Investment Group Backs Closed Loop Partners With Strategic Investment in Transition to a Circular Economy

New York, NY, February 10, 2025 – Closed Loop Partners today announced that mission-aligned investor, Capricorn Investment Group (“Capricorn”) made a growth investment in its asset management business, Closed Loop Capital Management. Capricorn joins existing shareholders, JS Capital, Schusterman Family Investments and majority owner, Closed Loop Partners Founder & CEO, Ron Gonen. The investment strengthens Closed Loop Capital Management’s position as a leading private investment firm dedicated to accelerating the transition to a circular economy across private equity, venture capital and catalytic private credit strategies.

Closed Loop Partners was founded in 2014 to accelerate the transition to a circular economy. The firm’s three businesses include its investment group, Closed Loop Capital Management, led by Tazia Smith; its innovation center, the Center for the Circular Economy, led by Kate Daly; and Circular Services, one of the largest private recycling and circular economy services providers in the U.S., led by Jessica Long.

The original investors in Closed Loop Partners’ funds are many of the world’s largest global corporations. Today, Closed Loop Capital Management manages capital on behalf of corporations, financial institutions, foundation endowments and family offices. Over the past decade, it has made 85 investments in emerging circular solutions across plastics & packaging, food & agriculture, electronics, the built environment, textiles & apparel and more. Its portfolio has kept over 6 million tons of materials out of landfills, maintaining their circulation in domestic supply chains, and avoided over 17.5 million metric tons of greenhouse gas emissions to date.

Capricorn’s strategic investment into Closed Loop Capital Management marks a significant milestone and market signal for scaling the circular economy, which drives security of natural resources and optimization of supply chains through waste mitigation, from product design to advanced remanufacturing. The partnership is grounded in Closed Loop Partners’ and Capricorn’s shared view of the critical need and opportunity for private investment firms with deep expertise in building solutions enabling a more sustainable and resilient global economy. Capricorn’s investment will provide growth capital to enhance Closed Loop Capital Management’s infrastructure and resources as the investment firm continues to execute, and drive value and positive impact on behalf of its corporate, institutional and family office partners.

One of the earliest and most respected climate-focused investment firms in the world, Capricorn manages $12 billion in assets for investors who strive for extraordinary investment results by leveraging market forces to accelerate large-scale environmental and social impact. The investment in Closed Loop Capital Management is part of Capricorn’s continued efforts to provide long-term capital to support the growth of leading asset management firms in the sustainability and climate space.

“Closed Loop Partners has built an impressive platform dedicated to the circular economy. Through its investment group, Closed Loop Capital Management, the team has considerable expertise building and profitably investing in businesses which advance environmental and economic resiliency. We believe their exceptional leadership and strong existing partnerships will provide an excellent foundation for scaling mission-aligned investment strategies which will continue to align capitalism with environmental and social impact,” said Capricorn Partner, William Orum. “We are excited to partner with Closed Loop Partners and look forward to working with their team as they further expand the asset management business over the coming years.”

“Capricorn Investment Group’s partnership with Closed Loop Capital Management signals continued, market-driven tailwinds behind the circular economy. We are proud to join forces with a leading investor driving sustainable change,” said Tazia Smith, Managing Partner and CEO of Closed Loop Capital Management. “Together, we are positioned to expand our proven ability to identify and scale innovations, business models and infrastructure that perpetuate circularity with resilient profitability and net-positive social and environmental outcomes.”

“Capricorn Investment Group is one of the original leaders in sustainable investing. They have built an impressive track record investing in leading fund managers who produce strong financial returns with tangible impact,” said Ron Gonen, Founder & CEO of Closed Loop Partners. “Capricorn’s partnership with Closed Loop Capital Management demonstrates the proven value and investment opportunity in the transition towards a waste-free world.”

Dentons was legal counsel to Closed Loop Partners. Sidley LLP served as legal advisor to Capricorn SIF.

About Closed Loop Partners

Closed Loop Partners is at the forefront of building the circular economy. The firm is comprised of three key businesses that create a platform for systems change. Closed Loop Capital Management is the firm’s investment group, managing venture capital, lower mid-market buyout private equity and catalytic private credit investment strategies on behalf of global corporations, financial institutions and family offices. To date, Closed Loop Capital Management has made 85 investments ranging from emerging innovations to established businesses.

Closed Loop Builders is the firm’s operating group, incubating, building and scaling circular economy infrastructure and services. The Center for the Circular Economy is the firm’s innovation center, uniting organizations to tackle complex material challenges and implementing systemic change that advances the circular economy. Closed Loop Partners is based in New York City and is a registered B Corp. Learn more at www.closedlooppartners.com.

About Capricorn Investment Group

Capricorn Investment Group is a leading mission-aligned investment firm managing $12 billion for families, foundations, and institutional investors. Capricorn leverages over 20 years of sustainable investing experience to deliver comprehensive Outsourced CIO services and innovative fund solutions to its global client base. Their Sustainable Investors Fund (SIF) is a private equity partnership whose investment objective is to create significant value through GP strategic capital investments in asset managers which incorporate sustainability as a key driver of investment returns.

The firm was born from a belief that sustainable investment practices can enhance risk-adjusted returns. Underlying this investment approach is a deep desire to demonstrate the huge investment potential that resides in breakthrough commercial solutions to the world’s most pressing problems. More information is available at www.capricornllc.com

Contacts

Closed Loop Partners
Bea Miñana
[email protected]

Capricorn Investment Group
Julia Mattox

[email protected]

Disclosure

This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Closed Loop Capital Management or any company in which Closed Loop Capital Management or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Closed Loop Capital Management does not utilize its website to provide investment or other advice, and nothing contained herein constitutes a comprehensive or complete statement of the matters discussed or the law relating thereto. Information provided reflects Closed Loop Capital Management’s views as of a particular time and are subject to change without notice. You should obtain relevant and specific professional advice before making any investment decision.

Executive endorsements of Closed Loop Capital Management are for illustrative purposes, designed to attract business development contacts, and should not be construed as a client or investor testimonial of Closed Loop Capital Management’s investment advisory services. All such endorsements are from current or former portfolio company leadership about Closed Loop Capital Management’s ability to provide services to their companies. Closed Loop Capital Management has not, directly or indirectly, paid any compensation to such individuals for their endorsements.

The Case Studies described on the Website are included as representative transactions to demonstrate assets to which Closed Loop Capital Management provides capital, however, are not representative of all Closed Loop Capital Management investments and are not necessarily reflective of overall results of any of Closed Loop Capital Management’s businesses. Investments in other businesses may have materially different results. Not all Closed Loop Capital Management investments had or will have similar characteristics or experiences as those included herein.

Certain information on this Website may contain forward-looking statements, which are subject to risks and uncertainties and speak only as of the date on which they are made. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. Closed Loop Capital Management undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Past performance is not indicative of future results; no representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.