Circulate Capital Ocean Fund I-B

Enriched impact-investor · Found: 2026-05-06 17:12

EUR 100M fund investing in plastic-recycling and waste-management value chains in South and Southeast Asia. Backed by EIB (USD 20m commitment), IFC, and Proparco. Fights plastic pollution and climate change via circular economy investments.

Source: https://www.eib.org/en/products/equity/funds/circulate-capital-ocean-fund-i-b

Funding Details

Funder

European Investment Bank

Funding Goal

Invest in companies across plastic-recycling and waste-management value chains in South and Southeast Asia, plus early-stage disruptive innovation globally in advanced recycling technologies, new delivery models, and innovative materials to fight plastic pollution and climate change via circular economy.

Funding Amount

EUR 100 million total fund; EIB commitment USD 20 million. Investment fund (equity); no individual grant amounts stated.

Deadline

Unknown (Unknown)

How to Apply

Contact Circulate Capital directly via their website: https://www.circulatecapital.com/

Target Region

South and Southeast Asia (primary); Global (for early-stage innovation)

Last Checked

2026-05-06 22:32

Application Checklist

Eligibility

• Applicant must be a company (SME or mid-cap), not an NGO or non-profit
• Business must operate in plastic-recycling or waste-management value chains

Project Scope

• Primary geographic focus is South and Southeast Asia; global early-stage innovation also considered
• Funding is equity investment, not a grant
• For early-stage start-ups: must focus on disruptive innovation in recycling, delivery models, or materials

Required Documents

• Contact Circulate Capital directly to initiate investment dialogue

Constraints

• No fixed application period; fund operates on rolling basis

Summary

Circulate Capital Ocean Fund I-B (CCOF I-B) is a EUR 100 million private equity impact fund dedicated to fighting plastic pollution and climate change through circular economy investments in South and Southeast Asia. The fund was established in 2023 and is managed by Circulate Capital, a specialist impact investment firm focused on ocean plastics and waste management. Thematically, CCOF I-B targets investments across the full plastic-recycling and waste-management value chain, including collection, sorting, processing, and recycling of plastic waste, as well as waste management infrastructure and service companies. It also allocates capital to early-stage start-ups globally focused on disruptive innovation such as advanced recycling technologies, new delivery models, and innovative materials. Priority areas are plastic recycling, waste management, and circular economy solutions for plastics. Geographically, the primary focus is South and Southeast Asia — countries such as India, Indonesia, Vietnam, Thailand, and similar markets where plastic pollution is acute and investment capital is lacking. Global investments are made for early-stage innovation plays. The fund does not restrict itself to a single country. Eligible beneficiaries are companies — primarily SMEs and mid-caps — operating in the plastic-recycling and waste-management sectors in South and Southeast Asia. The fund is an equity investment vehicle, not a grant programme. It is backed by institutional investors including the European Investment Bank (USD 20m commitment), IFC, and Proparco, as well as family offices and corporate partners including PepsiCo, Dow, Danone, Unilever, Chanel, and The Coca-Cola Company. NGOs and non-profits are not typical beneficiaries of this fund. Organisations seeking equity investment to scale waste or recycling operations in South/Southeast Asia are the primary applicants. The fund is managed on a rolling basis with no fixed application deadline.

Historical Context

Vintage year 2023. This is Fund I-B, a companion to Circulate Capital Ocean Fund I, which was backed by leading corporations. EIB committed USD 20 million; IFC and Proparco also invested. The fund type is SME and Midcap equity fund.

Why it was added

discovered from funder #669: Circulate Capital Ocean Fund I-B

Sources

• https://www.eib.org/en/products/equity/funds/circulate-capital-ocean-fund-i-b

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