This study investigates the complex processes of growth and evolution exhibited by circular new ventures. A dataset followed the development trajectories of 70 such ventures from 2021 to 2024. One notable observation is that these new ventures often adopt an experimental approach when crafting their circular business models, aiming to effectively address the genuine needs of potential customers while capturing value based on circular principles. Additionally, right from their inception, these ventures demonstrate a proactive interest in integrating themselves into a broader business ecosystem. Nonetheless, the challenges faced by circular new ventures in relation to their liabilities associated with being new to potential customers and markets encompass constraints in resources, limited networks, and the struggle to establish legitimacy, collectively rendering the task of securing strategic partnerships a daunting one. Consequently, counter to the expectations of rapid and extensive expansion, circular new ventures frequently find it necessary to collaborate with and progress gradually alongside other small and nascent ventures.