Circulate Capital Asia II

About Circulate Capital Asia II

Circulate Capital Asia II is a $220M first close ($300M target) growth equity fund focused on circular economy solutions across plastics, packaging, electronics, and apparel in South and Southeast Asia. Backed by Coca-Cola, Danone, and global DFIs.

Investment Focus

Location / RegionSingapore

Funding StageGrowth

Industry Focus

Circular Economy

Climate Sustainability

Investor Signals Profile

active

Sweet Spot

Asia-based founders solving plastic waste or sustainable packaging

plastic recycling

eco-friendly packaging

Asia emerging markets

circular economy

impact investing

Bullish Signals

$220M Fund II first closeexternal

$480M total AUM reachedexternal

Coca-Cola, Allianz as LPsexternal

Builders Vision (Walton family) backingexternal

Contrarian Signals

Global ESG fund demand decliningexternal

Niche thesis limits deal flowexternal

Founder Do's

Focus on plastic recycling or sustainable packaging

Operate in Asian emerging markets

Show measurable environmental impact

Align with corporate ESG mandates

Target circular economy solutions

Founder Don'ts

Avoid if no ESG/impact angle

Don't pitch outside Asia focus

Avoid non-material-focused climate plays

Key GPs & Partners

Rob Kaplan

CEO

impact-focusedESG-resilientAsia-specialist

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Fund Overview

Fund Size$220M

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Website

Key People