Circulate Capital, a Singapore-based investment management company focused on preventing plastic from leaking into the ocean and advancing the circular economy, has announced that its Circulate Capital Ocean Fund (CCOF) has committed to invest $19 million in four companies that are using technology and innovation to scale and transform India’s waste management and recycling value chain.
These include Srichakra Polyplast, Rapidue Technologies, Deeya Panel Products and Dalmia Polypro Industries.
Including this investment with previously announced investments in Lucro Plastecycle and Nepra Resources Management, CCOF has committed to invest a total of $39 million in India.
“This also forms part of Circulate Capital’s commitment to dedicating half of CCOF’s $106 million of capital to the waste management and recycling industry in India,” the firm said.
Rob Kaplan, CEO and founder, Circulate Capital said, “At a time of tremendous uncertainty, the six companies in our India portfolio are positioned to help the country build back sustainably and transform from a linear to circular economy. Combined, they will directly create over 6,600 safe, stable and dignified jobs while preventing 5 million metric tonnes of plastic pollution from entering the environment by 2030.”
The CCOF’s portfolio includes seven companies in the waste management and recycling industry, with six in India and one in Indonesia.