What It Takes to Build a Resilient Economy in 2026

In 2025, we saw the circular economy take center stage as demands for resource efficiency, local productivity and durable profitability reshaped investment priorities. Amidst economic shifts, more capital moved toward circular systems, seeking to capture the value of materials that power our economy.

Closed Loop Capital Management’s growth reflects this progress, with an ecosystem that includes 50 of the world’s largest corporations, as well as top financial institutions and family offices. To date, we have backed 100+ companies, technologies and facilities that change the flow of materials in our economy, resulting in $5 billion+ worth of materials kept in circulation.

Last year was pivotal to the progress we have seen to date. I am pleased to share highlights from 2025 that are helping to position us for growth and impact in the year ahead:

Closed Loop Private Equity, our buy-and-build private equity strategy, has been a central player in building platforms for the circular economy––from consolidating best-in-class materials recovery facilities (MRFs) for recovery of paper, metal, glass and plastics across the U.S., to building a leading IT Asset Disposition platform that provides holistic reuse, repair and recycling services for electronics.

In 2025, our team repeated their builder capital approach, acquiring Agri-Cycle, a best-in-class food and organic materials transportation and logistics company, accelerating their national expansion across the U.S. to divert organic waste from landfills and convert valuable resources to clean energy and fertilizer.

What’s next? In 2026, we anticipate the continued growth of our Private Equity strategy, with a continued focus on circular platforms for plastics & packaging, the built environment including metals and critical minerals, food & agriculture, circular technology, energy efficiency, textiles and healthcare.

Closed Loop Ventures has backed 45+ innovative solutions and their founders to date. In 2025, portfolio companies like Molg, a company that provides distributed remanufacturing, robotics and software solutions for the electronics sector, demonstrated the value of our Ventures investment thesis. Our investment focus is on materials––specifically, innovative companies that drive materials efficiency and supply chain resilience. Doubling down on this thesis, we invested in 5 new companies at the cutting edge of circular innovation in 2025, including:

• Supersede, a materials company that aims to replace suboptimal wood-based construction materials with 100% recyclable, higher performance solutions for outdoor, recreational vehicle and marine-related use
• ClearCOGS, an AI-powered platform that optimizes restaurant operations to reduce food waste and maximize potential profit
• Phinite, a technology company that developed a state-of-the-art solution aimed at transforming livestock waste into premium organic fertilizer

What’s next? In 2026, our Ventures team looks to continue their focused investing in materials that underpin and influence a wide array of vital sectors of the economy, including metals and minerals, organics, polymers and water.

Founded in 2014 with the first 13 of our now 50+ firm-wide corporate partners, Closed Loop Catalytic Capital & Private Credit has catalyzed 8 billion+ pounds of materials kept in circulation since inception. The business models, facilities and municipal projects we have invested in have received $1 billion+ of additional co-invest capital to help scale the circular economy.

In 2025, our Catalytic Capital & Private Credit team put a record amount of strategic capital to work, supporting the growth of SFG, an independently owned MRF, as they expanded recycling services to rural communities. We also repeated support of successful portfolio companies like TemperPack, a leader in sustainable, innovative packaging technology, and GreenMantra, a molecular recycling company that creates specialty waxes and polymer additives from recycled plastics.

What’s next? In 2026, our Catalytic Capital & Private Credit team looks to continue accelerating circular plastics & packaging solutions, exploring catalytic opportunities across the built environment, and more sectors tailored to our corporate partners and other catalytic investors.

Over a decade of investing in waste-mitigating solutions has borne out our thesis that the foundation of a resilient economy is circularity––through its ability to eliminate waste, recirculate goods and materials, and regenerate resources. There is growing importance to this work as we look toward opportunities to rethink the status quo.

As more stakeholders recognize the financial and environmental opportunity of reducing waste and its associated costs, we remain dedicated to building the circular economy and advancing our platform to remain at the forefront of the transition.

We thank all of our investors for your partnership. It is through our work with you that we demonstrate the value of a more resilient economic model, what we believe to be one of the greatest investment opportunities since the first Industrial Revolution.

I wish you a purposeful and prosperous beginning to this New Year and look forward to continuing our work together through 2026 and the years to come.

With gratitude,

Tazia Smith and the Closed Loop Capital Management team

This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Closed Loop Partners or any company in which Closed Loop Partners or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Information provided reflects Closed Loop Partners’ views as of a particular time and are subject to change without notice. Certain information in the Presentation constitute “forward-looking statements” about potential future results. Those results may not be achieved, due to implementation lag, other timing factors, portfolio management decision-making, economic or market conditions or other unanticipated factors. Nothing contained herein shall be relied upon as a promise or representation whether as to past or future performance or otherwise. The companies discussed have been selected for illustrative purposes to demonstrate the platforms, technology and manufacturing capabilities of Closed Loop Partner’s partner companies and are not based on the performance of any investment. Not all Closed Loop Partners investments had or will have similar characteristics or experiences as those included herein.