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Walmart Heir Joins Family Offices in Fund to Eradicate Waste

Updated: May 31, 2022

Bloomberg Wealth

Lukas Walton, grandson of Walmart Inc. founder Sam Walton, has joined at least nine other families and private foundations in backing a $25 million fund aimed at advancing the so-called circular economy in which waste is minimized.

It’s the second of two funds raised by Singapore-based investment-management firm Circulate Capital, which focuses on climate-change mitigating technologies such as the development of sustainable textiles and insulation materials and hyper-efficient recycling. Circulate raised $106 million in 2019 from PepsiCo Inc., Procter & Gamble Co., Chanel and other corporations for a fund targeting Asia-based recycling companies that are working to reduce ocean-bound plastic waste.

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