Circulate Capital Ocean Fund LAC
Snapshot
Fund Type: Growth Equity
Fund Size: $100 million
Investment Stage: Growth
Geographic Focus: Latin America and the Caribbean
Sector Focus: Waste management and circular economy
Fund Overview
Circulate Capital Ocean Fund LAC, managed by Circulate Capital, is the first fund dedicated to fighting plastic pollution and advancing the circular economy in Latin America & the Caribbean. Plastics, a major pollution and carbon source, have low recycling rates and collection is primarily done by the informal sector, which tends to be overwhelmingly female, with little agency or protection. The fund invests in companies and technologies to improve and expand waste collection, sorting, processing, and recycling, primarily in Brazil, Mexico, Chile, Colombia, and the Caribbean.
Heading for Change co-invested in Circulate Capital’s Ocean Fund LAC with Sea Forward Ocean Health (SFOH) Fund. You can read more about our co-investment process here.
Why We Invested
Circulate Capital Ocean Fund LAC actively promotes women's inclusion and leadership in a gender-imbalanced industry, by requiring all portfolio companies to develop unbiased hiring practices and adopt safeguarding policies. They provide training on gender issues and champion improvements in pay equity, advancement, and workplace safety for women throughout supply chains. The fund is also forward thinking with respect to the unique climate risks and impacts women face in the waste recycling space, which can result in lost income and increased financial vulnerability, and is working with portfolio companies to find ways to understand and mitigate these risks.
Women as Agents of Change
Circulate Capital Ocean Fund LAC recognizes the unique roles, opportunities, and physical climate risks women face in waste management, and actively manages these risks while working to reduce barriers and create opportunities that enhance women's economic participation, advancement, and livelihoods. An example of this is Recykal, a tech startup in India that is dedicated to improving the livelihoods and dignity of informal waste pickers, or safai mitras, who are marginalized despite their vital role in keeping cities clean. Over 70% of safai mitras are women who are facing exploitation, unsafe conditions, wage disparities, and the prevalence of child labor in hazardous environments. The Recykal Foundation has launched an initiative that collaborates with governments and NGOs to provide meals, education, health camps, safety gear, government IDs, and banking access, to this community. Their goal is to reach one million safai mitras by 2025.
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