Circularity.fm

How customer traction, off-takes, and capital stack enable scale in asset-heavy models What does it take to secure funding for asset-heavy, circular startups? In this episode, Jakob Röskamp, CFO at Traceless Materials, shares how customer validation builds investor confidence, why off-take agreements are key to de-risking CapEx-heavy models, and how combining equity, debt, and grants can reduce the cost of capital. While this series looks at how VCs select circular startups, it’s equally important to understand how startups choose their investors. Jakob shares practical insights on what that process looks like from the startup side. He also talks about Traceless’s approach to lifecycle assessments, as well as managing complexity when scaling a circular solution in the real world. People Jakob Röskamp, CFO at Traceless https://www.linkedin.com/in/jakobroeskamp/ [https://www.linkedin.com/in/jakobroeskamp/] Patrick Hypscher, Circular Business Strategist, PaaS Expert https://www.linkedin.com/in/hypscher/ [https://www.linkedin.com/in/hypscher/] Chapters 00:00 Intro 01:59 Favorite philosopher: Aristotle & ethics 02:40 Overview of Traceless Bio‑based Materials 06:24 Scaling the Production 08:35 Equity, Grants & Debt: Mixed Funding Strategy 09:22 Choosing investors: impact, tech, commercial 21:43 Off-take agreements: reducing investor risk 26:36 Redefining growth within planetary boundaries 28:39 Advice for circular founders 29:15 Circular trends & Jakob’s invitation About Traceless is a Hamburg-based company on a mission to fight plastic pollution with truly sustainable materials. Founded in 2020, Traceless has developed an innovative, plastic-free biomaterial made from agricultural plant residues. Their materials are fully compostable, leaving no harmful traces in the environment, and offer a real alternative for products where recycling isn’t practical. By combining cutting-edge science with a commitment to circularity, Traceless is helping to shape a future where everyday products no longer contribute to the global plastic problem. Further Links https://www.traceless.eu/post/successful-funding-round [https://www.traceless.eu/post/successful-funding-round] One-page Summary Sign-up for the Circularity.fm Newsletter and get a summary with the take-aways of this episode. Register here: https://circularity.fm/selecting-the-right-investors-for-your-materials-startup-with-jakob-roskamp-from-traceless-materials/ [https://circularity.fm/selecting-the-right-investors-for-your-materials-startup-with-jakob-roskamp-from-traceless-materials/]

Funding the Future with Integral Investing How can purpose-driven founders and investors work together to build the solutions our economy urgently needs? Many startups are building solutions that target the root causes of today’s biggest challenges. But purpose-driven angel investors still have to evaluate each team individually, making it hard to fund impact at scale. In this episode, Tina Dreimann, founder of better ventures, explains how her network connects founders and investors to systematically change our economy towards impact and return. Tina also points out the principle of integral investing, where revenue and impact grow together. She shares how startups and established companies can form a symbiosis: combining entrepreneurial startup speed with corporate scale to shift entire value chains. Tina also advises founders to prioritise team strength and early customer validation. This episode is part of VC for Circularity - the Venture Capital Perspective on Circular Economy Startups. People Tina Dreimann, Founder at better ventures https://www.linkedin.com/in/tina-dreimann/ [https://www.linkedin.com/in/tina-dreimann/] Patrick Hypscher, Circular Business Strategist, PaaS Expert https://www.linkedin.com/in/hypscher/ [https://www.linkedin.com/in/hypscher/] Chapters 00:00 Intro 02:52 Why Tina Founded better ventures 04:58 What is better ventures? 07:05 Angel Network at better ventures 08:01 What Are The Benefits For Founders Working With better ventures? 09:44 Understanding and Assessing Impact at better ventures 14:09 Integral Investing: Correlation Between Investment Capital and Impact 19:43 Spotting Impact Potential Patterns in Circular Business Models 22:19 Selection Processes for Founder Teams and Business Angels 24:26 Impact Investors and Angels as Responsible Leaders 31:44 Tips for Circular Founders 33:03 Trends for Circular Businesses in The Next Three Years 33:48 What Kind of People Should Reach Out to better ventures? About better ventures is a German network of entrepreneurial business angels who back early-stage, purpose-driven startups across Europe. They support impact-driven companies that address pressing social and ecological challenges by providing not only capital but also time, expertise, and access to their extensive networks. better ventures prioritizes a founder-friendly approach that emphasizes long-term success and founder control rather than short-term financial gains. Their investments focus on startups creating positive impact in areas such as climate, ecosystems, resources, new work, education, and health, working closely with founders as partners and sparring partners to help build sustainable, impactful ventures. Further Links Portfolio companies: everdrop: https://www.everdrop.de [https://www.everdrop.de] Oxyle: https://oxyle.com [https://oxyle.com] ecoLocked: https://www.ecolocked.com [https://www.ecolocked.com] BIOWORKS: https://www.bioworks-gmbh.de/en/home.html [https://www.bioworks-gmbh.de/en/home.html] Book recommendation: Integral Investing: From Profit to Prosperity by Dr. Mariana Bozesan Report Circular Republic: https://www.circular-republic.org/startup-landscape-2025 [https://www.circular-republic.org/startup-landscape-2025] WEPA’s episode: https://circularity.fm/family-business-transform-towards-circular-value-creation-by-carl-luis-rieger-wepa-circulaze-summit/ [https://circularity.fm/family-business-transform-towards-circular-value-creation-by-carl-luis-rieger-wepa-circulaze-summit/] One-page Summary Sign-up for the Circularity.fm Newsletter and get a summary with the take-aways of this episode. Register here: https://circularity.fm/how-purpose-driven-investors-and-impact-founders-accelerate-systemic-change-with-tina-dreimann-from-better-ventures/ [https://circularity.fm/family-business-transform-towards-circular-value-creation-by-carl-luis-rieger-wepa-circulaze-summit/]

How to Build More Resilient Supply Chains? What will it take to recover more critical materials when demand is growing and recovery systems aren’t keeping up? With the growing deployment of solar panels, wind turbines, electric vehicles, and data centers, demand for metals and minerals is rising fast. But current systems for recovering and reusing these materials are limited, inefficient, or missing entirely. In this episode, Aly Bryan, Senior Member of the investment team at Closed Loop Partners’ Venture Group, explains why critical materials have become a central topic in the circular economy. She introduces the concepts of small-loop and large-loop circularity, discusses the role of modular recovery infrastructure, and shares why relying on large, centralized processing facilities may no longer be the most effective approach. Aly also explores how circular startups can work within existing supply chains and why reverse logistics is essential to making recovery work at scale. This episode is part of VC for Circularity - the Venture Capital Perspective on Circular Economy Startups. People Aly Bryan, Senior Member of the investment team at Closed Loop Partners https://www.linkedin.com/in/alybryan/ [https://www.linkedin.com/in/alybryan/] Patrick Hypscher, Circular Business Strategist, PaaS Expert https://www.linkedin.com/in/hypscher/ [https://www.linkedin.com/in/hypscher/] Chapters 0:00 Intro 02:24 Aly's Interest in CE and Start at Closed Loop 05:42 Closed Loop Ventures' Activites 06:40 What Makes a Strong Early-Stage Fit for Closed Loop Ventures 08:03 Can It Scale in the US? Closed Loop’s Global Investment Lens 08:54 Scope of Circularity: Materials Focus, Supply Chain Infrastructure, and End-of-Life Valorization 10:17 Not the Right Fit: What Closed Loop Doesn’t Invest In 12:03 “We Want to Be the First Call”: Closed Loop’s Approach to Founder Support 13:18 Critical Minerals: Importance for the CE and Current Relevance 16:22 Supply Chain Disruptions and the Future of Critical Materials 18:34 Assessing the Market: Small Loop and Large Loop Circularity 22:39 Alternative Materials Innovation 23:59 Ratio of Software vs Hardware Innovation 26:14 Platform Solutions for Reverse Logistics 28:50 Closed Loop Partners' Portfolio Companies 30:28 Demand for Recycled Materials - Solar Cycle Example 32:57 Closed Loop’s Investment Focus: Modular Recovery 34:44 What Is Understood by Modular Processing Solutions 36:41 Aly's Advice for Circular Founders 38:30 What Are the Trends for the Next Three Years? 39:49 Who Should Get in Contact with Closed Loop Partners? About Closed Loop Partners is a pioneering firm dedicated to building the circular economy through three integrated businesses: Closed Loop Capital Management, which manages venture capital, private equity, and private credit investments focused on circular solutions; the Center for the Circular Economy, an innovation hub tackling complex material challenges and driving systems change; and Closed Loop Builders, an operating group that incubates and scales circular economy infrastructure across the U.S., including one of the largest private recycling companies. Their venture capital arm, Closed Loop Ventures Group, invests early-stage capital in companies reimagining product design, manufacturing, consumption, and recovery to eliminate waste and transform supply chains. Further Links Mentioned companies: • Molg – https://www.molg.ai/ [https://www.molg.ai/] • Valis Insights – https://valisinsights.com/ [https://valisinsights.com/] • Solar Cycle – https://www.solarcycle.us/ [https://www.solarcycle.us/] Pitcher portal: https://www.closedlooppartners.com/about-us/contact-us/ [https://www.closedlooppartners.com/about-us/contact-us/] More on Closed Loop: https://www.closedlooppartners.com/capital-management/venture-capital/ventures/ [https://www.closedlooppartners.com/capital-management/venture-capital/ventures/] One-page Summary Sign-up for the Circularity.fm Newsletter and get a summary with the take-aways of this episode. Register here: https://circularity.fm/critical-materials-supply-chain-infrastructure-and-modular-solutions-in-the-circular-economy-with-aly-bryan-from-closed-loop-partners/ [https://circularity.fm/critical-materials-supply-chain-infrastructure-and-modular-solutions-in-the-circular-economy-with-aly-bryan-from-closed-loop-partners/]

What startups need to know about impact KPIs, product–market fit, and scaling "What does it take for circular and impact-driven startups to raise funding from VCs? In this episode, Charlotte Lafont, Principal at Ring Capital, explains how funds can integrate impact into every stage of the investment process, from evaluating impact intentionality to setting KPIs that are audited and tied to carried interest. Charlotte highlights what circular founders need to demonstrate to attract funding: strong product–market fit, alignment with existing value chains, and the ability to scale beyond niche markets. This episode is part of VC for Circularity - the Venture Capital Perspective on Circular Economy Startups. People Charlotte Lafont, Principal at Ring Capital https://www.linkedin.com/in/charlotte-lafont-5a9b4b4a/ [https://www.linkedin.com/in/charlotte-lafont-5a9b4b4a/] Patrick Hypscher, Circular Business Strategist, PaaS Expert https://www.linkedin.com/in/hypscher/ [https://www.linkedin.com/in/hypscher/] Chapters 00:00 Intro 02:37 About Ring Capital 04:27 Ring Capital's investor base and fund structure 07:18 The role of impact in Ring Capital's investment thesis 09:09 Defining impact: Intentionality, Additionality, and Measurability 13:06 Integrating impact into the due diligence process 15:38 Using impact scorecards to guide investment decisions 18:10 Impact Business Case usage and industry-specific examples 22:17 Auditing impact performance and linking KPIs to carried interest 23:47 Investment focus: sub-groups for materials 25:09 Sector drivers for packaging, construction and food 27:54 Deep dive into the waste management sector 30:14 Importance of integrating innovation and technology into existing value chains 32:32 Tips for circular founders applying for funding 33:58 Trends in circular businesses in the next three years 35:48 What kind of listeners should reach out to Ring Capital? About Ring Capital is a Paris-based venture capital firm dedicated to investing in fast-growing tech and impact companies, with a focus on addressing major social and environmental challenges. Managing over €400 million in assets, Ring Capital supports startups and scale-ups across Europe and Africa through investments, hands-on growth support, and specialized impact funds. Its ecosystem includes dedicated programs for growth tech, impact ventures, and philanthropic initiatives, all aimed at fostering innovation and positive societal change. Further Links About Ring Capital: https://www.ringcp.com/ [https://www.ringcp.com/] https://www.ringcp.com/portfolio/ [https://www.ringcp.com/portfolio/] https://www.ringcp.com/ecosystem [https://www.ringcp.com/ecosystem] https://ringcapital.substack.com/p/the-eu-needs-to-make-impact-investing [https://ringcapital.substack.com/p/the-eu-needs-to-make-impact-investing] United for Impact Initiative: https://www.linkedin.com/company/unitedforimpact/ [https://www.linkedin.com/company/unitedforimpact/] Latest investment in the waste industry: https://www.lixo.tech/ [https://www.lixo.tech/] One-page Summary Sign-up for the Circularity.fm Newsletter and get a summary with the take-aways of this episode. Register here: https://circularity.fm/how-to-get-vc-funding-for-circular-and-impact-driven-startups-with-charlotte-lafont-from-ring-capital/ [https://circularity.fm/how-to-get-vc-funding-for-circular-and-impact-driven-startups-with-charlotte-lafont-from-ring-capital/]

Strategic venture capital, circularity, and scaling innovation in the construction industry What does it take to invest in circularity in construction - an industry defined by waste, emissions, and long scaling cycles? In this episode, Bengt Steinbrecher of Holcim MAQER Ventures shares how one of the largest building materials companies works with startups to decarbonise the sector. From reusing 10 million tons of demolition material to testing carbon-storing concrete across Europe, Holcim blends strategic relevance with clear circular KPIs. The episode explores how corporate venture capital enables circular startups to scale in the construction industry - through market access, operational integration, and long-term collaboration. This episode is part of VC for Circularity - the Venture Capital Perspective on Circular Economy Startups. People Bengt Steinbrecher, Head of Digital Partnerships and Startup Partner at Holcim Maqer Ventures https://www.linkedin.com/in/bengt-steinbrecher-maqer [https://www.linkedin.com/in/bengt-steinbrecher-maqer] Patrick Hypscher, Circular Business Strategist, PaaS Expert https://www.linkedin.com/in/hypscher/ [https://www.linkedin.com/in/hypscher/] Chapters 00:00 Intro 02:02 Bengt's career background 02:50 Circularity levers in the construction industry 03:55 Holcim MAQER’s investment focus: sustainability, productivity, and construction tech 08:07 Investments criteria and partnership success 12:09 Holcim MAQER approach investing in start-ups 15:57 Circularity evaluation framework 17:58 Example of a circular start-up within Holcim's portfolio - Neustark 19:50 Business models possibilites 21:43 Choosing which business models to invest in 23:26 Investing in asset-heavy businesses 25:17 VC investment patterns in the circular construction field 27:06 Circular Assessment - Where Strategic VC and Impact VC are alike 29:49 Advice for circular founders and future trends 32:07 Founders are invited to reach out to Holcim MAQER About Holcim MAQER Ventures is Holcim’s corporate venture capital and open innovation unit, designed to accelerate sustainable transformation in the construction industry. It invests in early-stage startups developing breakthrough technologies, provides a venture clienting program that enables startups to validate and scale their solutions within Holcim’s global operations, and runs a six-month accelerator program to foster innovation and collaboration across the construction value chain. Through these approaches, Holcim MAQER Ventures connects startups with market access, technical expertise, and resources to drive decarbonization and reinvent how the world builds Further Links https://holcimmaqerventures.com/ [https://holcimmaqerventures.com/] https://www.neustark.com/ [https://www.neustark.com/] One-page Summary Sign-up for the Circularity.fm Newsletter and get a summary with the take-aways of this episode. Register here: https://circularity.fm/how-a-global-leader-in-building-solutions-invests-in-circular-startups-with-bengt-steinbrecher-from-holcim-maqer-ventures/ [https://circularity.fm/how-a-global-leader-in-building-solutions-invests-in-circular-startups-with-bengt-steinbrecher-from-holcim-maqer-ventures/]