A £5.5M equity fund, the first in Europe to focus specifically on the recycling sector, has opened for business after being 50% oversubscribed by private sector investors. The Recycling Fund has been established in the UK by WRAP, and is managed by Impax Asset Management. It has been established to address the gap between the availability of investment capital and the demands of small and medium sized enterprises in the UK recycling sector. Providing leadership to the financial community, the pilot fund will also offer investors the opportunity for early sight of a high growth sector and established the merits of a larger, commercially sized fund in the future. The fund has received very positive buy-in from the private sector with £1.5M investment attracted from WastePack, Barclays and Parternships UK. The Recycling Fund Ltd, has committed the remaining.
