The London and Cambridge Technology team advised UB Forest Industry Green Growth Fund I LP (“UB FIGG”) on its lead growth investment into UK-based Notpla. The round also saw participation from prominent investors such as Temasek Trust, Horizons Ventures, and Astanor Ventures.
Notpla is a family of regenerative packaging materials made from seaweed and plants. Behind these products is a company deeply committed to making the planet a healthier place. Winner of the prestigious Earthshot Prize in 2022, Notpla are famed for their natural alternatives to everyday single-use plastics and established, industrially scaled solutions. These plastic-free alternatives include seaweed-coated food containers, edible liquid bubbles and flexible film replacements. To date, their solutions have already replaced 13 million pieces of single-use plastic from entering our environment.
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.
The deal team was led by Adam Thatcher, Andrew Davis and Heidi McNally.
For additional details on the investment, please see here.