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Circulate Capital invests in Lucro

The Hindu

Investment via $106-mn Ocean Fund

Circulate Capital, the Singapore-based investment management company has invested in homegrown, Mumbai-based manufacturing firm Lucro Plastecycle Private Limited (Lucro) through the $106 million Circulate Capital Ocean Fund (CCOF), the world’s first investment fund dedicated to the ocean plastic crisis in South and Southeast Asia.

“CCOF has made its inaugural investments in two plastic recycling companies located in India and Indonesia for a total investment of $6 million,” the company said.

CCOF is backed by several leading companies, including PepsiCo and Procter & Gamble.

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