Combating marine plastic pollution in South Asia

CCOF1-B is the companion fund of Circulate Capital Ocean Fund 1 (“CCOF 1”) which was successfully raised in 2019 (AuM USD 112m) by Circulate Capital from blue chip companies such as Danone, Chanel, P&G, Dow, PepsiCo, Coca-Cola and Unilever.

The project involves a USD 5.6 million investment by Proparco in CCOF1-B alongside IFC and EIB. In line with the previous fund, CCOF 1-B III will target companies involved in plastic waste management and the circular economy in South and Southeast Asia. The fund will provide equity and quasi-equity to SMEs in need of growth capital and start-ups in need of venture capital.

As a high-impact investment fund aiming to prevent marine plastic pollution in South and Southeast Asia, CCOF1-B will invest in SMEs and start-ups involved in the circular economy based on plastic recycling. 

The project will thereby have positive impacts on the climate and biodiversity, as it is 100% aligned with the Paris Agreement and has 100% climate co-benefits (“SDG 13 Climate action” and “SDG 14 Life below water”). From a social perspective, the project will improve the livelihoods of communities at the bottom of the pyramid, by implementing best practices in the informal sector, which is part of the solid waste value chain. It will thereby create safe, stable and dignified employment (“SDG 8: Decent work and economic growth”). 

Furthermore, 900 jobs will be supported in the companies financed by the fund. 

Finally, USD 22.2 million of private finance will be mobilized (ratio of 3.96).