Singapore investment firm raises $14m to combat plastic waste

Singapore-based investment management firm Circulate Capital has raised US$14 million in the first close of its new fund, which will look for opportunities in materials and deep tech solutions to combat plastic waste.

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The firm is looking to broaden the scope of its investment focus through the Circulate Capital Disrupt (CCD) fund, which will now include investments in environment-friendly materials, delivery models, recycling tech, and deep tech that expands circular supply chains.

“Applying climate-tech innovations to the plastics crisis may be the key to finally stemming the tide and presents climate-focused investors with the potential for meaningful financial and impact outcomes,” said Circulate Capital founder and CEO Rob Kaplan.

The fund would serve as a companion to the firm’s Circulate Capital Ocean Fund (CCOF) launched in October 2019, which has participated in investments across the waste management and recycling value chain in South Asia and Southeast Asia.

According to the company’s impact report released earlier this year, it expects that its CCOF I portfolio would prevent over 13 million tonnes of plastic pollution leakage, help over 30 million tonnes of waste to be properly managed, and avoid at least 17 million tonnes of CO2, among others.

Companies in CCOF’s portfolio include Recykal, Lucro, Nepra, and Tridi Oasis Group.