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Circulate Capital brings corporate customers to sustainable-oceans investing

David Bank,

More than half the plastics in the oceans comes from South and Southeast Asia.

That presents a high-impact opportunity to invest in the region’s waste management and recycling infrastructure, says Rob Kaplan. He has launched Circulate Capital, a spinoff of Closed Loop Partners, to mobilize $150 million for such ventures.

Circulate’s roster of corporate partners, including both Pepsico and Coca-Cola, as well as 3M, Kimberly Clark, Dow and Procter & Gamble, have unmet demand for recycled materials.

“It is one of the things that will give us more success, having the largest buyers working on this together,” Kaplan told ImpactAlpha.

Circulate has looked at 50 ventures in Indonesia, India, the Philippines, Vietnam and Thailand; the firm is circulating an RFP for entrepreneurs seeking financing in the range of $2-$5 million.

“I’ve never seen anything like it,” Kaplan said of the growing attention to ocean health and ocean plastic, in particular.

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