The recycled paper manufacturing industry in the US focuses on converting used paper products into new paper products. Companies range from large manufacturers and niche recyclers to innovative startups. They offer various products including packaging, newsprint, and specialty papers, all with a commitment to sustainability. As environmental concerns grow, the demand for recycled paper is set to rise, fostering innovations in recycling technology and processes. Currently, the industry is tapping into advanced techniques such as pulp recycling and online platforms for material exchanges, suggesting a bright future where sustainability and efficiency meet.


This list features a spectrum of investors in the recycled paper manufacturing sector. Venture capital firms like SOSV and Advantage Capital differ from private equity giants such as KKR and Apollo Global Management. Headquartered across multiple US states, these investors range from small firms with fewer than 50 employees to large entities employing thousands. Founded between 1990 and 2018, their investment activity surged in 2024, with many players making impactful contributions to sustainability in the paper sector.


Top 17 Recycled Paper Manufacturing Investors in the US


1. Sosv

  • Website: sosv.com
  • Type: Venture Capital
  • Headquarters: United States (USA)
  • Founded year: 1995
  • Headcount: 51-200
  • Number of deals in 2024: 170
  • LinkedIn: sosv

SOSV is a venture capital firm founded in 1995, specializing in funding and supporting deep tech startups through its development programs. With a focus on sectors like health and climate technology, SOSV operates globally, connecting innovative companies with investors. Notably, they have invested in Re-Fresh Global, which is involved in recycling, and Novoloop, a recycling tech startup that has raised significant funding to commercialize its recycling processes. These transactions highlight SOSV's engagement in the recycling industry, making them a relevant player in the context of recycled paper manufacturing.


2. Advantage Capital


Advantage Capital is a venture capital firm based in New Orleans, Louisiana, founded in 1992. The firm specializes in providing equity and debt financing to small businesses across various sectors, including agribusiness, solar projects, and affordable housing. They focus on supporting entrepreneurs and businesses in underserved communities, offering flexible capital solutions to help them grow and thrive. Notably, Advantage Capital has been involved in transactions with companies like Carolina Precision Fibers, which raised funds through debt financing and convertible notes, indicating their engagement in the materials sector. Additionally, their investment in Cady Bag, a company that may have relevance to sustainable packaging solutions, further highlights their interest in industries that could intersect with recycled paper manufacturing. Their services include venture capital, capital investment consulting, and management of investment funds, positioning them as a versatile investor in the market.


3. Kkr

  • Website: kkr.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1976
  • Headcount: 1001-5000
  • Number of deals in 2024: 74
  • LinkedIn: kkr

KKR & Co. Inc. is a prominent investment firm based in New York, specializing in private equity, credit, infrastructure, and real estate. Founded in 1976, KKR has established itself as a leader in asset management, providing solutions to institutional investors and individual clients. The firm operates globally, leveraging its extensive expertise to navigate complex investment landscapes. Notably, KKR has been involved in several transactions relevant to the recycling industry, including the acquisition of Der Grüne Punkt in 2004, which focuses on recycling and waste management. In 2020, KKR acquired Viridor, a significant player in waste management and recycling, for over $5.4 billion. These investments highlight KKR's commitment to supporting sustainable practices and their interest in the recycling sector, including recycled paper manufacturing.


4. Closed Loop Partners

  • Website: closedlooppartners.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2014
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: closed-loop-fund

Closed Loop Partners is a New York-based venture capital firm founded in 2014, dedicated to building the circular economy through investment management services, venture capital, and private equity. They operate the largest privately held recycling company in North America, serving businesses and organizations aiming to implement sustainable practices and reduce waste. In 2023, Closed Loop Partners participated in a pre-seed funding round for Earthodic, a materials startup that has developed Paperbarc technology, which received USDA Biobased Product Label certification. This investment aligns with their mission to promote resource efficiency and sustainability in the paper industry. Their portfolio reflects a commitment to innovative solutions that support the circular economy, making them a relevant player in the recycled paper manufacturing space.


5. Morgan Stanley

  • Website: morganstanley.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1986
  • Headcount: 10001+
  • Number of deals in 2024: 79
  • LinkedIn: morgan-stanley

Morgan Stanley is a prominent investment bank and financial services firm founded in 1986, headquartered in New York, New York. The firm offers a wide range of services, including wealth management, investment banking, and capital markets, catering to individuals, families, corporations, and governments. With a global presence, Morgan Stanley leverages its expertise to provide tailored financial solutions. Notably, they have been involved in significant transactions within the recycling sector, including their investments in Recykal, which raised $13,187,387 in Series B funding in April 2024 and $7,360,000 in Series A funding in September 2022. These transactions highlight Morgan Stanley's engagement in the recycling industry, particularly in supporting companies that contribute to sustainable practices, such as recycled paper manufacturing.


6. Sonoco

  • Website: sonoco.com
  • Type: Corporate
  • Headquarters: Hartsville, South Carolina, United States (USA)
  • Founded year: 1899
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: sonoco

Sonoco Products Company is a corporate investor based in Hartsville, South Carolina, founded in 1899. As a leading packaging manufacturer, Sonoco provides a wide range of consumer and industrial packaging solutions across various industries, including food and beverage, healthcare, and personal care. In recent years, Sonoco has made strategic acquisitions to enhance its position in the recycled paper manufacturing sector. Notably, they acquired D&W Paper Tubes, Inc., which specializes in sustainable industrial paper tubes, and U.S. Paper Mills Corp., a paper mill that is expected to bolster their capabilities in the consumer-driven tissue and towel coreboard market. These transactions reflect Sonoco's commitment to expanding its sustainable packaging portfolio and its active role in the recycled paper industry.


7. FJ Labs

  • Website: fjlabs.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 169
  • LinkedIn: fj-labs

FJ Labs is a venture capital firm based in New York, specializing in investing in marketplace and network effect businesses. Founded in 2015, the firm has made over 1,000 investments, many of which have achieved unicorn status. FJ Labs focuses on providing capital and strategic guidance to startups across various industries, including e-commerce and logistics. Notably, they participated in the Series D funding round for RoadRunner Recycling, which raised $70 million to expand its operations in the recycling sector. This investment highlights FJ Labs' commitment to supporting companies that contribute to waste management and recycling. Additionally, their involvement in Packhelp, a sustainable packaging marketplace, further emphasizes their interest in sustainable practices, which is relevant to the recycled paper manufacturing industry.


8. Apollo Global Management, Inc.

  • Website: apollo.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1990
  • Headcount: 1001-5000
  • Number of deals in 2024: 46
  • LinkedIn: apollo-global-management-inc

Apollo Global Management, Inc. is an asset management firm based in New York, specializing in alternative assets and retirement solutions. Founded in 1990, the firm manages a diverse portfolio across credit, private equity, and real assets, catering to institutional investors, corporations, and individual clients. Notably, Apollo has made significant investments in the recycled paper manufacturing context, including the acquisition of a 67% controlling stake in Reno De Medici Group, a key player in the recycled paper industry. This acquisition, valued at approximately 315.3 million EUR, highlights Apollo's commitment to the sector. Additionally, their acquisition of Novolex Holdings LLC, which emphasizes sustainability, further demonstrates their focus on environmentally friendly practices. These transactions reflect Apollo's strategy of empowering retirees and providing innovative capital solutions while also engaging in industries that promote sustainability and recycling.


9. Atlas Holdings LLC


Atlas Holdings LLC is a private equity investment firm founded in 2002, based in the United States. The firm specializes in building and managing a diversified group of manufacturing and distribution businesses across various sectors. Atlas Holdings focuses on transforming underperforming companies into high-performance organizations, serving customers in industries such as automotive, construction, and food processing. Notably, Atlas Holdings has made significant investments in the recycled paper manufacturing sector, acquiring companies like Marcal Paper Mills in 2012, Twin Rivers Paper Company in 2013, and Finch Paper in 2007. These acquisitions demonstrate their commitment to the recycled paper industry and their strategy of enhancing the performance of these businesses. Additionally, their recent acquisition of West Fraser Timber in 2023 further illustrates their active role in the broader manufacturing landscape, which includes recycled paper products.


10. Bain Capital

  • Website: baincapital.com
  • Type: Venture Capital
  • Headquarters: Boston, Massachusetts, United States (USA)
  • Founded year: 1984
  • Headcount: 1001-5000
  • Number of deals in 2024: 19
  • LinkedIn: bain-capital

Bain Capital, LP is a leading private investment firm founded in 1984, based in Boston, Massachusetts. The firm specializes in various asset classes, including private equity, venture capital, credit, and real estate. Bain Capital provides strategic resources and capital to businesses and entrepreneurs, helping them grow across multiple industries. Notably, Bain Capital has made significant investments in the paper sector, including the acquisition of Fedrigoni, an Italy-based specialty paper and self-adhesive labels producer, in December 2018, and Ahlstrom-Munksjö Oyj, a Finnish manufacturer of fiber-based materials, in January 2021. These transactions highlight Bain Capital's focus on enhancing capabilities in the specialty paper market, which is closely related to recycled paper manufacturing.


11. Valor Equity Partners

  • Website: valorep.com
  • Type: Venture Capital
  • Headquarters: Chicago, Illinois, United States (USA)
  • Founded year: 2001
  • Headcount: 51-200
  • Number of deals in 2024: 23
  • LinkedIn: valor-equity-partners

Valor Equity Partners is a private investment firm based in Chicago, Illinois, founded in 2001. The firm specializes in operational growth and technology-enabled companies, partnering with entrepreneurs to tackle challenges across various sectors, including biosciences and transportation. In recent years, they have made notable investments in companies that align with sustainability and innovation. For instance, they participated in a Series C funding round for AMP Robotics, a company that develops robotics solutions for recycling, which could have implications for the recycled paper manufacturing industry. Additionally, their involvement in companies like Boox, which focuses on sustainable e-commerce infrastructure, reflects their commitment to supporting environmentally conscious businesses. Overall, Valor Equity Partners is positioned as a forward-thinking investor with a growing interest in sustainability-related ventures.


12. International Paper


International Paper is a leading manufacturing company based in Memphis, Tennessee, specializing in packaging and paper products. Founded in 1898, the company has a workforce of over 10,000 employees and operates across various sectors, providing a wide range of offerings including corrugated packaging, paper bags, and various types of pulp. International Paper is committed to sustainable practices, which is reflected in their strategic acquisitions. Notably, they acquired Omaha Paper Stock Company in 2014, a company that plays a crucial role in the recycling of paper products. This acquisition aligns with their goal of enhancing their recycling capabilities. Furthermore, their acquisition of Weyerhaeuser's pulp business in 2016 for approximately $2.2 billion also emphasizes their focus on expanding their cellulose fibers segment, which can include recycled materials. Overall, International Paper's investments and acquisitions demonstrate their active engagement in the recycled paper manufacturing industry.


13. OpenGate Capital


OpenGate Capital is a private equity investment management firm based in New York, specializing in acquiring and creating value in the lower-to-middle market across North America and Europe. Founded in 2005, the firm focuses on operational improvement and flexible capital solutions for businesses, particularly in the industrials and technology sectors. Notably, OpenGate Capital has made significant investments in the paper industry, including the acquisition of Kotkamills Oy, a manufacturer of specialty paper and wood products, and NorPaper, which further emphasizes their engagement in the paper manufacturing sector. These transactions highlight OpenGate's capability and interest in enhancing the value of companies within the paper industry, including those involved in recycled paper manufacturing.


14. Graphic Packaging International, LLC


Graphic Packaging International, LLC is a corporate investor based in Atlanta, Georgia, specializing in paper-based packaging solutions for various industries, including food, beverage, and consumer products. Founded in 1920, the company has grown to employ over 10,000 people and is committed to innovation and sustainability in its packaging solutions. In recent years, Graphic Packaging has made several strategic acquisitions to enhance its capabilities in the fiber-based consumer packaging market. Notable transactions include the acquisition of AR Packaging Group AB for approximately $1.45 billion, which aims to bolster their global scale and innovation in fiber-based packaging. Additionally, they have acquired companies like Seydaco Packaging Corp. and Bell Incorporated, further expanding their footprint in the packaging sector. These acquisitions reflect their focus on integrating sustainable practices and materials into their operations, making them a relevant player in the recycled paper manufacturing context.


15. Accel

  • Website: accel.com
  • Type: Venture Capital
  • Headquarters: Palo Alto, California, United States (USA)
  • Founded year: 1983
  • Headcount: 51-200
  • Number of deals in 2024: 101
  • LinkedIn: accel-vc

Accel is a venture capital firm founded in 1983, based in Palo Alto, California, specializing in investing in startups and early-stage companies primarily in the technology sector. However, Accel has also ventured into sustainable investments, as evidenced by their participation in funding rounds for companies like Fibmold Packaging, which raised $10 million to develop eco-friendly molded fiber packaging products that utilize wastepaper and other natural fibers. This initiative aims to help brands transition away from single-use plastics, showcasing Accel's commitment to sustainability. Additionally, Accel led a $10 million Series A funding round for EcoSoul Home, which focuses on eco-friendly products, further indicating their interest in sustainable solutions. These transactions highlight Accel's potential relevance to the recycled paper manufacturing industry.


16. Closed Loop Foundation


Closed Loop Foundation is an investment firm based in New York, New York, founded in 2014. They specialize in advancing the circular economy by providing venture capital, growth equity, and buyout strategies to companies innovating in sustainability. Their investment portfolio includes notable transactions such as First Star Recycling, which raised $2,000,000 in debt financing, and GreenMantra Technologies, which secured $3,000,000 in Series D funding. These investments reflect their commitment to supporting businesses that contribute to recycling and waste reduction, making them a relevant player in the sustainability sector.


17. HG Ventures

  • Website: hgventures.com
  • Type: Venture Capital
  • Headquarters: Indianapolis, Indiana, United States (USA)
  • Founded year: 2018
  • Headcount: 1-10
  • Number of deals in 2024: 5
  • LinkedIn: hgventures

HG Ventures is a venture capital firm based in Indianapolis, Indiana, founded in 2018. The firm partners with innovative companies focused on sustainability and infrastructure, providing investment and strategic support to startups. Their portfolio includes companies in materials, environmental solutions, and technology sectors. Notably, HG Ventures has invested in Vartega, a specialist in carbon fiber recycling, which raised $10 million in equity funding to expand its operations and commercialize additional recycling processes. They also led a $2.5 million seed round investment in Renewal Mill, a next-generation food ingredients company that emphasizes sustainability. These transactions highlight HG Ventures' commitment to supporting companies that contribute to recycling and sustainable practices, making them a relevant player in the recycled paper manufacturing context.



Recycled Paper Manufacturing Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
SosvUnited States (USA)51-2001995170
Advantage CapitalNew Orleans, Louisiana, United States (USA)51-20019925
KkrNew York, New York, United States (USA)1001-5000197674
Closed Loop PartnersNew York, New York, United States (USA)11-5020148
Morgan StanleyNew York, New York, United States (USA)10001+198679
SonocoHartsville, South Carolina, United States (USA)10001+18992
FJ LabsNew York, New York, United States (USA)11-502015169
Apollo Global Management, Inc.New York, New York, United States (USA)1001-5000199046
Atlas Holdings LLCUnited States (USA)11-5020023
Bain CapitalBoston, Massachusetts, United States (USA)1001-5000198419
Valor Equity PartnersChicago, Illinois, United States (USA)51-200200123
International PaperMemphis, Tennessee, United States (USA)10001+18986
OpenGate CapitalNew York, New York, United States (USA)11-5020050
Graphic Packaging International, LLCAtlanta, Georgia, United States (USA)10001+19200
AccelPalo Alto, California, United States (USA)51-2001983101
Closed Loop FoundationNew York, New York, United States (USA)1-1020140
HG VenturesIndianapolis, Indiana, United States (USA)1-1020185


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