The recycled paper manufacturing industry in Benelux focuses on turning old paper products into new paper goods. Companies in this sector include manufacturers specialized in recycling, pulp production, and waste management. With a strong emphasis on sustainability, businesses seek advanced techniques to improve efficiency and reduce waste. Industry growth is driven by increasing environmental awareness and stricter regulations on waste disposal. Emerging technologies promise improved recycling rates and higher-quality products. As consumers opt for eco-friendly options, the demand for recycled paper is expected to rise, pushing companies to innovate and invest in greener production methods.


The list features ten notable investors in the recycled paper sector across Benelux. These range from corporate investors like the European Innovation Council and the European Investment Bank to venture capital firms such as Capricorn Partners and Chemelot Ventures. With headquarters in bustling cities like Brussels and Amsterdam and sizes varying from small offices to industry giants, these investors boast a strong history, many founded in the late 20th century. Their combined efforts in 2024 reflected a commitment to sustainability and innovation, with nearly 300 investments aimed at enhancing the recycled paper manufacturing landscape.


Top 10 Recycled Paper Manufacturing Investors in Benelux


1. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, founded in 1958, that supports innovation and entrepreneurship across Europe. It offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. The EIC provides business acceleration services, networking opportunities, and prizes to foster innovation in multiple sectors. Notably, the EIC has been involved in funding companies within the recycled paper manufacturing context, such as Creapaper, which received both venture funding and a grant from the EIC, and Releaf Paper, which raised over $2.6 million in grant funding. These transactions highlight the EIC's role in promoting sustainable practices and innovation in the recycled paper industry.


2. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg that provides financial services, including loans, equity investments, guarantees, and advisory services, to support sustainable projects across various sectors. Founded in 1958, the EIB aims to promote growth and job creation through its funding initiatives. Notably, the EIB has been involved in significant transactions within the recycled paper manufacturing context, such as a EUR 435 million loan to Stora Enso to support its investment in renewable, fiber-based consumer packaging board. This project is expected to enhance sustainable practices in the paper industry. Additionally, the EIB participated in a Series B funding round for Packhelp, a company focused on sustainable packaging solutions, further emphasizing its commitment to environmentally friendly projects. These transactions highlight the EIB's role in financing initiatives that align with the goals of recycled paper manufacturing.


3. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent private equity firm based in Luxembourg, founded in 2005. It specializes in private equity, credit, secondaries, and infrastructure, managing approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. CVC has made significant investments in the paper and packaging sectors, notably acquiring Lecta, a leading manufacturer of specialty papers, in 1997, and AR Packaging, a major player in the packaging industry, in 2016. These transactions highlight CVC's active role in the paper manufacturing landscape, particularly in areas that may involve recycled materials. Their investment strategy emphasizes delivering sustainable value and growth, which is crucial in the context of recycled paper manufacturing.


4. Mutares Benelux

  • Website: mutares.com
  • Type: Private Equity
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2021
  • Headcount: 51-200
  • Number of deals in 2024: 16
  • LinkedIn: mutares-benelux

Mutares Benelux, a private equity firm based in Amsterdam, Netherlands, specializes in acquiring and managing companies in transition. Founded in 2021, the firm focuses on providing operational support and consulting services to enhance profitability and growth across various sectors, including automotive, technology, and retail. Notably, Mutares has made significant strides in the recycled paper manufacturing sector through its acquisitions of Sonoco Paper France, which operates a board mill, and La Rochette Cartonboard, a company generating substantial revenue in the Folding Boxboard market. These strategic investments reflect Mutares' commitment to expanding its portfolio in the paper industry, showcasing its capability to leverage potential growth in this sector.


5. Mondi Heerlen B.V.

  • Website: mondigroup.com
  • Type: Corporate
  • Headquarters: Heerlen, Limburg, Netherlands
  • Founded year: 1967
  • Headcount: 51-200
  • Number of deals in 2024: 3
  • LinkedIn: mondi-heerlen-b.v.

Mondi Heerlen B.V. is a corporate investor based in Heerlen, Limburg, Netherlands, specializing in packaging and paper manufacturing. Founded in 1967, the company focuses on providing innovative and sustainable solutions across various industries, including eCommerce and retail. Mondi produces a wide range of products, such as containerboard and flexible packaging, aimed at helping customers achieve their sustainability goals. Notably, Mondi has been active in acquiring companies that enhance its position in the paper and packaging market. For instance, they acquired the SIMET plant in Poland and the Canadian pulp mill, which has a capacity to produce approximately 250,000 tons of pulp annually. These transactions indicate a strategic move towards expanding their production capabilities, potentially including recycled paper manufacturing as part of their operations.


6. Capricorn Partners


Capricorn Partners is an investment management firm based in Leuven, Flanders, Belgium, specializing in venture capital, growth capital, and quoted equity funds. Founded in 1993, the firm focuses on innovative companies across sectors such as digital technologies, health, and clean technologies. Capricorn Partners operates with a commitment to responsible investing, aiming to create both financial returns and strategic value for its clients. Notably, they have invested in Black Bear Carbon, a cleantech company that is involved in sustainable practices, including recycling initiatives. This investment reflects their interest in supporting companies that contribute to the circular economy, which is relevant to the recycled paper manufacturing industry. Their portfolio also includes investments in other innovative companies, showcasing their diverse investment strategy while maintaining a focus on impactful technologies.


7. Brightlands Venture Partners


Brightlands Venture Partners is a venture capital firm based in Geleen, Limburg, Netherlands, founded in 2004. The firm specializes in investing in innovative startups that focus on health and sustainability. They provide venture capital and advisory services to help these startups tackle complex societal challenges. Notably, Brightlands has been involved in several transactions that are relevant to the recycled paper manufacturing context. For instance, they led a €1 million Seed investment in ReSolved Technologies, which is focused on developing sustainable recycling solutions. Additionally, they participated in funding rounds for Black Bear Carbon, which is working on sustainable carbon products, and Fuenix, which aims to scale up production in the circular economy. These investments highlight Brightlands' commitment to supporting sustainable practices and technologies that can impact the recycling industry positively.


8. Chemelot Ventures


Chemelot Ventures is a venture capital firm based in Geleen, Limburg, Netherlands, founded in 2004. The firm specializes in investing in innovative startups that focus on health and sustainability. Chemelot Ventures manages multiple funds and provides capital and support to early-stage companies addressing societal challenges. Notably, they have invested in companies like Ioniqa Technologies, which is developing technology for the full recycling of colored PET, and ReSolved Technologies, which is working on sustainable recycling solutions. These investments reflect their commitment to sustainability and innovation in recycling, making them a potential player in the recycled paper manufacturing sector as well.


9. Pdenh


Participatiefonds Duurzame Economie Noord-Holland (PDENH) is a not-for-profit organization based in Haarlem, North Holland, founded in 2014. It focuses on promoting sustainable economic development by investing in innovative projects and providing financing and advisory services to companies that contribute to a sustainable and circular economy. PDENH collaborates with various partners to stimulate sustainable business activities in the region. Among its notable transactions, PDENH invested in ChainCraft, a Dutch scale-up that is developing an industrial-scale plant for sustainable practices, which may include recycling initiatives. Additionally, PDENH has invested in Mud Jeans, a brand that aims to create products from recycled materials, further emphasizing its commitment to sustainability and circular economy principles.


10. Verlinvest

  • Website: verlinvest.com
  • Type: Venture Capital
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 1995
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: verlinvest

Verlinvest is a Brussels-based venture capital firm founded in 1995, specializing in high-growth consumer brands across various sectors, including food, beverage, health, and technology. The firm provides long-term capital and strategic advisory services to help brands scale and innovate. Notably, Verlinvest has invested in Who Gives a Crap, a company dedicated to sustainable toilet paper solutions, which highlights their commitment to sustainability in the paper industry. Their portfolio also includes diverse companies like Oatly and Tony's Chocolonely, showcasing their focus on brands that prioritize consumer needs and sustainable practices. This diverse investment strategy positions Verlinvest as a significant player in the consumer goods sector, with a growing interest in sustainable products.



Recycled Paper Manufacturing Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
European Investment Bank (EIB)Luxembourg1001-5000195899
CvcLuxembourg1001-5000200516
Mutares BeneluxAmsterdam, North Holland, Netherlands51-200202116
Mondi Heerlen B.V.Heerlen, Limburg, Netherlands51-20019673
Capricorn PartnersLeuven, Flanders, Belgium11-5019935
Brightlands Venture PartnersGeleen, Limburg, Netherlands11-5020044
Chemelot VenturesGeleen, Limburg, Netherlands1-1020040
PdenhHaarlem, North Holland, Netherlands1-1020142
VerlinvestBrussels, Brussels, Belgium11-5019955


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