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Investment management firm Circulate Capital recently published its 2022 Year in Review, detailing progress across its portfolio. The firm highlighted key figures and milestones in its mission to find solutions for the ocean plastics crisis in South and Southeast Asia.
June 21, 2023
Investment management firm Circulate Capital recently published its 2022 Year in Review, detailing progress across its portfolio.
The firm highlighted key figures and milestones in its mission to find solutions for the ocean plastics crisis in South and Southeast Asia.
In his open comments, CEO and Founder Rob Kaplan said that "When [Circulate Capital] started out four years ago, few investors, let alone larger institutional ones, considered the circular economy for plastics in high-growth markets as an exciting opportunity. Now, people not only see the need, the possibilities and the way forward, but they’re starting to think big."
“Unlocking circularity, value and impact at scale” noted that Circulate's portfolio companies diverted 100,000 tonnes of plastic waste or 2.5 billion plastic bottles, a three-fold increase from 2021.
Other key data points included:
140,000 tonnes of GHG emissions prevented, more than double the previous year and equivalent to taking 30,000 cars off the road for one year.
145,000 tonnes of new recycling infrastructure capacity installed, four times as much as in 2021.
1,300 new jobs created directly, doubling its 2021 impact across local communities, and supporting thousands more informal waste workers.
In 2022, Circualte Capital noted a total of $175 million in assets across its two funds, with $80 million invested across 14 organizations to reduce plastic pollution and tackle climate change and environmental justice issues.
Significant movement was noted throughout the report. Textile recycling venture Circ generated $55 million in 2022 since the firm's initial investment commitment. India-based Srichakra achieved a "positive safety assessment" from the European Food Safety Authority.
Lucro, a producer of recycled flexible packaging, completed a blockbuster round of financing in 2022 following its partnership with Dow to co-develop a post-consumer recycled polyethylene film solution. The company was able to increase capacity in India with the opening of a new facility in 2022. Prevented Ocean Plastic Southeast Asia also opened three new collection facilities across coastal Indonesia.
Circulate Capital stated that it used 2022 to bolster its portfolio companies to allow for scalability, closing 80 percent of its capital committed over the year.
"The validity of our blended finance approach is gaining traction, and now is the time to hit the ground running. The bottom line is that we, as a community of investors and entrepreneurs, have no choice but to go big, go fast or go home," Kaplan said.
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