Circularity Capital LLP has continued to build its portfolio of European growth stage businesses enabling the circular economy by leading a growth capital investment in PackBenefit, a European innovator in high-performance fibre-based food packaging. The investment sees AXA IM Alts co-invest alongside Circularity Capital through the AXA Impact Fund Climate and Biodiversity. Through this investment, Circularity Capital and AXA IM team up with JZ International, who invested in the company at inception in 2013.