Circulate Capital raises $20m from European Investment Bank

CityWire Asia

Author: Jill Wong

The firm’s investor base has traditionally comprised private foundations and family offices. The European Investment Bank’s investment in the Circulate Capital Ocean Fund I-B shows the firm is ready to receive institutional capital.

Singapore-based Circulate Capital has raised $20m from the European Investment Bank for its Circulate Capital Ocean Fund I-B (CCOF I-B).

CCOF I-B was launched in June 2021 and is targeting to raise $80m in total. The Fund first closed at $14m in June and announced the second close of $25m in December 2021.

Circulate Capital’s investor base has so far been dominated by private investors, and the European Investment Bank is the first institutional investor to participate in the firm’s fundraising,

Rob Kaplan, CEO and founder of Circulate Capital, told Citywire Asia. Other investors in the fund include Walmart heir Lukas Walton, Rumah Group, the family office of real estate investor Stanley Tan, Huang Cheng Foundation, and North-East Family Office.

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