The European Investment Bank Commits up to $20 million to Circulate Capital Ocean Fund I-B
April 26, 2022
European Investment Bank (EIB) Commits Up to $20 million to Invest in Circulate Capital Ocean Fund I-B to Fight Plastic Pollution and Climate Change, and Advance the Circular Economy in Asia
New Commitment to Recycling and Climate Tech Fund Intends to Catalyze Institutional Investment into Enterprises that Develop Solutions to Combat Plastic Waste in Asia
Circulate Capital, the Singapore-based investment management firm financing high-growth opportunities at the nexus of climate-tech and plastics, recycling and the circular economy, announced today that the European Investment Bank (EIB) has committed up to $20 million to the Circulate Capital Ocean Fund I-B (CCOF I-B), which invests both into disruptive innovations aligned with Circulate Capital Disrupt (CCD), the firm’s climate-tech strategy, and into the South and Southeast Asia recycling value chain, alongside the firm’s $112m Circulate Capital Ocean Fund (CCOF I). CCOF I-B is targeting a total raise of USD$80 million and is therefore in consideration with other investors, as recently disclosed by the International Finance Corporation (IFC).