Newsfile Corp.: Circulate Capital Closes US $106M Fund to Protect Asia's Ocean From Plastic: World's first investment fund dedicated to preventing ocean plastic in South and Southeast Asia from entering Asian oceans; Biggest investment capital committed towards Asia's ocean plastic crisis; First investments targeted in Asia by the end of 2019

Singapore, Singapore--(Newsfile Corp. - December 4, 2019) - ​​​​​​​​​​Circulate Capital, the investment management firm dedicated to incubating and financing companies and infrastructure that prevent ocean plastic in South and Southeast Asia (SSEA), today announced the first close of the US$106 million Circulate Capital Ocean Fund (CCOF). It is the world's first investment fund dedicated to addressing Asia's plastic crisis and is also one of the ten largest ASEAN-based Venture Capital Funds in the market. CCOF's founding investors are among the world's leading companies, including PepsiCo (NASDAQ: PEP), the first investor, Procter & Gamble (NYSE: PG), Dow (NYSE: DOW), Danone, Unilever, The Coca-Cola Company (NYSE: KO) and Chevron Phillips Chemical Company LLC.

With 60% of ocean plastic originating from the region, Asia is the biggest source of plastic leakage into global oceans. A recent Ocean Conservancy Report identified a net financing gap between USD$28 and USD$40 per ton for plastic waste collection in the five top ocean polluting countries...