Una Terra is a venture capital firm founded in 2021 with a mission to accelerate the global transition to a circular economy. Headquartered in Europe, the firm invests in growth-stage, technology-led companies in Europe, the Middle East, and North America. Una Terra focuses on scaling business models that reduce waste, cut greenhouse gas emissions, and create new sustainable ecosystems across industries such as packaging, food, waste, fashion, and the blue economy.
The firm targets companies with scalable circular economy solutions that can transform entire industries.
Areas of focus include:
Its mandate emphasizes measurable impact, with targets such as eliminating plastic waste and reducing carbon emissions while generating strong financial returns.
In September 2025, Una Terra announced it had raised €50 million for its Circular Economy Growth Fund. The fund aims to accelerate solutions that eliminate waste and decarbonize industries through circular models. Its impact goals include removing one million tons of plastic waste, equivalent to around 100 billion plastic bottles, and avoiding two gigatons of carbon emissions.
The fund has already attracted backing from Italy’s CDP Venture Capital through its Green Transition Fund, the Prince Albert II of Monaco Foundation, Deutsche Nachhaltigkeit, and several family offices. A final close of the fund is expected in 2026, with additional investments in progress. The fund’s dual focus on superior investment returns and measurable environmental outcomes reflects Una Terra’s belief that sustainability creates economic value rather than adding cost.
Leadership
Una Terra is led by CEO and Managing Partner Luca Zerbini, who positions the firm as both an impact-driven and financially disciplined investor. Zerbini emphasizes that the circular economy is not only necessary to address climate change and biodiversity loss but also represents an opportunity to generate new forms of value creation across industries.
The firm’s leadership actively engages with stakeholders ranging from corporate LPs to sustainability foundations, aligning financial goals with global impact objectives.
Investment Strategy
Una Terra’s strategy centers on investing in growth-stage companies that have proven business models but require capital and strategic support to scale internationally.
By focusing on circular economy solutions, the firm aims to back companies that can transform industry ecosystems by reducing waste, replacing carbon-intensive practices, and building closed-loop systems. Investments are selected not only for financial potential but also for their measurable contribution to environmental targets, creating alignment between investor returns and sustainability metrics.
Notable Investments
Portfolio companies include:
These investments showcase Una Terra’s emphasis on technology-enabled solutions that can scale across global industries to reduce waste and emissions.
Notable Exits
As the Circular Economy Growth Fund is still in the investment stage, notable exits have not yet been reported. The fund is expected to build a portfolio of high-growth companies with the potential to deliver both strong returns and transformative sustainability outcomes.
Other
Una Terra is as focused on measurable impact as on financial performance. Clear sustainability metrics, such as reductions in plastic use, carbon emissions, or resource intensity, will be critical to aligning with the fund’s mandate.
Backing from strategic LPs, including foundations and development-focused investors, means portfolio companies may also benefit from visibility and networks beyond traditional venture capital circles. The fund’s final close in 2026 will expand its firepower for new investments.
