ImpactAlpha, December 10 — The 150 million tons of plastic in the ocean is growing by approximately eight million tons a year. Singapore-based Circulate Capital, a spin-off of Closed Loop Partners, has invested $19 million in four technology companies in India that are helping curb the plastic waste crisis: plastic recycling pioneers Srichakra and Dalmia, waste-commerce firm Recykal and ocean-waste upcycling company Ricron.
Circulate’s $106 million Circular Capital Ocean Fund is backed by Procter & Gamble, Dow, Danone, Unilever and others. Circulate plans to invest half of the fund in India’s waste management and recycling industry.
With the new investments, the Circular Capital Ocean Fund has invested a total $39 million in six companies in the waste management and recycling industry in India and one in India (see, “Catalyzing capital to prevent plastic waste”). Earlier this year, it backed Ahmedabad-based Nepra Resource Management, which collects and recycles dry municipal waste that would otherwise end up in landfills.