# Circularity Capital: portfolio, investments and team

> Circularity Capital is a vc firm based in United Kingdom. 2 investments on record, latest Oct 2019. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/circularity-capital (Millionrounds; every figure on the page links to its filing or article)

United Kingdom · [Investor](https://millionrounds.com/investors)

# Circularity Capital

Last cheque observed Oct 2019. Silence since then is not evidence of inactivity: our sources miss unannounced rounds.

Email

VC firm Quiet Last fund $156M, Nov 2021

Seed Series A Circular Economy

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Cheques on record

**0%** of best year **0** **cheques in 12 months**, 2 on record

Since the last cheque **2578** days **00** hrs **00** min **00** sec

Median round **$12M** Rounds led **0 of 2**

Pitch Circularity Capital

## Circularity Capital highlights

- 01 2 rounds on record
- 02 Mostly Series B: 100% of its rounds

## What they do

> Circularity Capital is a specialist private equity firm founded to provide clients access to investment opportunities created by the circular economy. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** From $1.0M as they say
- **Stages:** Seed Series A
- **Sectors:** Circular Economy
- **Based in:** Edinburgh, United Kingdom
- **Cold pitches:** Not accepted

## The record

Every round we can evidence, newest first **2 appearances**

- **2019** 2 rounds
- **Oct** **[Winnow](https://millionrounds.com/company/winnow)** Series B · GB · TechCrunch **$12M** With 4 others
- **Oct** **[Grover](https://millionrounds.com/company/grover)** DE · EU-Startups **$12M** With 2 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **5 named**

AS **Andrew Shannon** Partner of Circularity Capital LLP i Filing they signed

DM **David Mowat** Partner of Circularity Capital LLP i Filing they signed

IN **Ian Nolan** Partner of Circularity Capital LLP i Filing they signed

JB **James Butterworth** Partner of Circularity Capital LLP i Filing they signed

JB **Jamie Butterworth** Partner i Form ADV

We also hold **12** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$223M** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Circularity Capital LLP
- **SEC number:** CRD 318186

## What they claim to have backed

From their own portfolio page (on their website)

**0** of 2 we have independently watched raise

Fund I Fund II

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

Latest fund on file

**$156M**

raised in Nov 2021

From its SEC filing. Nothing newer is on file yet.

## The cheque

Seed Series A

Median round joined **$12M** the round, not its cheque

Led 0 of 2 rounds **0%**

- **Said size:** From $1.0M
- **Sole investor:** Never alone
- **Last cheque:** Oct 2019

Rounds by stage said on their site

- Series B *1*
- Seed said *-*
- Series A said *-*

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## Recently backed

The latest companies Circularity Capital put money into.

[**Winnow** $12M · Oct 2019](https://millionrounds.com/company/winnow)[**Grover** $12M · Oct 2019](https://millionrounds.com/company/grover)

## Quick answers about Circularity Capital

### What does Circularity Capital invest in?

Circularity Capital invests most often at Series B (100% of the rounds on record), in sectors such as Circular Economy.

### How active is Circularity Capital?

2 investments on record, 0 of them in the last 12 months. The most recent was in Oct 2019.

### What has Circularity Capital invested in recently?

Its most recent investments on record: Winnow (Series B, Oct 2019) and Grover (Undisclosed round, Oct 2019).

### How big are Circularity Capital's cheques?

The median round it joins is $12M.

### Is Circularity Capital investing now?

No investments in the last 12 months; the latest was in Oct 2019.

### What kind of investor is Circularity Capital?

Circularity Capital is a VC firm based in Edinburgh, United Kingdom.

### How much does Circularity Capital manage?

About $223M, as gross assets of its private funds (Oct 2026).

### Has Circularity Capital raised a new fund?

Its latest fund filing with the SEC was in Nov 2021, reporting $156M raised.

## Raising now?

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Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=circularity-capital) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=circularity-capital)
