It’s been a busy year for us as at FM Capital Group. From an investment perspective, it has been our busiest year to date for our small team of investors. For the remainder of the year, I will highlight each of our 2021 investments and talk up the wonderful, important, and impactful work each of these companies are doing in Africa.
In December 2020, Eric Casinga, the founder of Recoplast Congo, reached out to me seeking investment. While it was still in the midst of the pandemic, we had just made our first covid investment so investors were thawing out and ready to make more. So I was keen to meet Eric and learn more about Recoplast. And when I did, the business resonated with me immediately. Because when my siblings and I met up and went to Nigeria together in 2016, the plastic waste there was an eye sore in which we actually saw opportunity. We wondered how to start and operate a recycling company to combat the plastic waste that littered the, otherwise, beautiful environment. To learn that Eric had done just that in the Democratic Republic of Congo with his own patented process, I was very impressed and eager to share this investment opportunity with investors.
This startup was born out of a passion to fight against plastic pollution and deforestation by presenting a “perfect alternative” to ordinary wood. This type of upcycling creates a material called “Ecowood” that can be used to make more durable and affordable chairs, tables, pallets, and really anything that ordinary wood can make. The upcycled material is also used to create plastic products too. By paying for the plastic waste that ordinary people collect themselves, Recoplast is also providing opportunity for Congolese citizens, many of whom are women, to have a means of earning an income and providing for themselves and their families. Our angel investors saw and agreed that this was an opportunity that must be seized. We invested in this startup, finally closing the investment in July 2021. We have been busy since supporting Recoplast’s growth plans and look to do more investments in the cleantech sector in the coming year 2022.
We celebrate the Recoplast team for their efforts, grit, and innovation. Check out the video below to witness the waste transformation process. Follow Recoplast on Facebook, Instagram, and Twitter. Please reach out to Eric if you are also interested in investing. Let him know we sent you!
This particular investment is in our clients’ portfolios. To understand how you can invest in venture capital opportunities with us for your own portfolio, talk to our advisors at FM Capital Group. Schedule a meeting with us here. It’s free to chat!