Henkel is taking another step in expanding the company’s venture capital activities while further promoting a circular economy with a £5 million investment into Circularity European Growth Fund I LP, an impact fund managed by Circularity Capital.

This investment supports Henkel’s ambitious circular economy strategy that includes a target for 100 percent of its packaging to be recyclable, reusable, or compostable by 2025. Within the same time frame, Henkel aims to use 35 percent recycled plastic for its consumer goods products in Europe.

“We are committed to further drive progress towards a sustainable future. By joining the fund managed by Circularity Capital, we are complementing our current deal-flow and will gain further insights into the latest technologies that enable a circular economy,” Paolo Bavaj, Head of Corporate Venturing at Henkel Adhesive Technologies, said in a statement. “The fund offers access to high growth companies with strong expertise in fields which are highly relevant for us: from circular packaging, business models, materials and products to enabling data solutions and recycling technologies.”