Page 25 - Plastics News January 2021

FeAtures

feels really confident in their positioning. Much of the
interest in the companies has been driven by Circulate
Capital’s corporate partner commitments to use recycled
plastic, and those commitments remain in place. And
Circulate Capital still sees the informal sector as critical
to improving the recycling system in India. “We feel
really strongly – and all these companies do – that the
only way to really drive this transformative change is by
empowering and improving the livelihoods of the informal
sector,” Kaplan said.
Circulate Capital still has a few other Indian companies
it’s looking at, but the firm is nearing its investment
ceiling in India, Kaplan said. He noted Circulate Capital
reserves some money for follow-on rounds of investments
Circulate Capital also invested in Deeya Panel Products, a in existing portfolio companies. Money will be focused on
Gujarat, India company that recycles multi-layer plastics Southeast Asia moving forward. Circulate Capital has an
into building products. active investment pipeline in Indonesia, and deals there
Looking forward in India are expected to be announced in the first half of 2021.
By 2030, the portfolio companies will have diverted The firm is also working in Thailand and Vietnam.
5 million metric tonnes of plastic waste from the Supported by the Swachh Bharat Mission and strong
environment cumulatively. According to Kaplan “Today, demand from brand owners, India is well placed to provide
most of the portfolio companies are back up to between a blueprint for leveraging plastic circularity to improve
70% and 90% operating capacity,” and Circulate Capital livelihoods and build back better globally.

25 Januar y 2021 Plastics News