TPG Capital led a $170m funding round in UBQ Materials, a developer of climate-positive thermoplastic materials, with participation from Battery Ventures and M&G. "In addition to converting municipal waste into functional thermal plastics, UBQ's material solution is energy efficient, uses no water and produces no effluents. UBQ can be utilized in a broad array of industrial and consumer applications. We're excited to be partnering with management to scale the business globally," Steve Ellis, The Rise Fund Co-Managing Partner.