Chile-based pulp and paper company CMPC has announced the launch of a $100m innovation fund.
The unnamed fund will invest in startups that are innovating in the sustainability sector, focusing on the reduction of single-use plastics, new textile technologies and wood construction technological developments.
In addition, the fund will invest and support university projects and applied research and development in conjunction with innovation centres. CMPC hopes that its $100m fund will further foster more working collaborations and initiatives with other companies.
CMPC Ventures was founded in 2020 and invests in sustainable construction, new bio-chemicals and sustainable and intelligent packaging.
The firm has five companies in its portfolio and has invested in nine startups including Pulpex, Woamy and Strong by Form.