Circulate Capital, a Singapore-based investment management firm, on April 28 announced investing $6 million in two recycling companies in Asia - one being Jakarta-based recycling company Tridi Oasis (PT Tridi Oasis Group), and another in India. The amount allocated for each startup wasn’t disclosed. The investment in Tridi Oasis was made in the form of debt financing, with 50% of the loan guaranteed by the US International Development Finance Corp (IDFC) in collaboration with the US Agency for International Development (USAID). Other than financing, Circulate Capital’s partners will also help Tridi Oasis in scaling and connecting with the supply chains of global manufacturers.
"One of the main things that always strike me is Tridi Oasis’ female founders, [Dian Kurniawati and Dinda Ishlah]. They are not only passionate about the cause but also show proven competence in running a business with integrity. The two have a strong vision for how their company can help in solving plastic waste issues while providing jobs for local communities. [...] Looking at the growing sustainability trend and recycled plastic demand globally, we foresee a promising opportunity for Tridi Oasis to grow," says Valencia Dea, Indonesia investment manager of Circulate Capital.