New Investment Partners Join LAC Fund, Including iAlumbra, Heading for Change, Sea Forward, and LATAM Impact Fund
MEXICO CITY, MX / ACCESS Newswire / July 8, 2025 / Circulate Capital, a leading investment management firm advancing the circular economy in high-growth markets, announced today the final close of its fund to combat plastic pollution in Latin America and the Caribbean (LAC) at US$75.8M, bringing the firm's total AUM to approximately US$265M.
The firm also welcomed new partners to the LAC fund: iAlumbra, Heading for Change, Sea Forward, and the LATAM Impact Fund. These values-aligned investors represent some of the region's most forward-thinking capital providers and bring deep expertise in sustainable growth:
iAlumbra Deploys capital across the full spectrum, catalyzing models for economic growth that restore the environment, honor community, and advance health and prosperity.
The LATAM Impact fund, co-managed by Sonen Capital and Fondo de Fondos, invests in scalable businesses that improve livelihoods and build climate resilience.
Heading for Change Heading for Change is an endowment making investments in nature, climate and biodiversity solutions to advance gender equity.
Sea Forward is a global philanthropic platform focused on protecting the ocean and advancing the blue economy.
Their participation builds on the foundation laid by the investors who anchored the Fund's launch in May 2023, including global corporates Danone, Dow, Mondelez International, Unilever, and Chevron Phillips Chemical, alongside mission-aligned partners IDB Lab (the innovation arm of the Inter-American Development Bank Group) and Builders Vision. This combination of corporate partnerships and impact-focused capital remains central to the fund's strategy to scale best-in-class recycling and circular economy solutions across the region.
Addressing a Regional Challenge with Global Implications
Latin America and the Caribbean face a pressing plastic waste crisis. The region's extensive coastline, combined with high urbanization and limited waste infrastructure, contributes to significant plastic leakage into the environment. An estimated 3.7 million metric tons of plastic waste have entered the ocean from LAC, a figure projected to rise to 4.4 million metric tons by 2050 if the trend persists.
At the same time, global demand for high-quality, recycled plastics is accelerating, driven by ambitious corporate sustainability targets and regulatory pressures. Yet, the region's recycling value chain remains largely underdeveloped and underfunded, stalling environmental progress and constraining economic potential. Circulate Capital's LAC fund was created to bridge this critical gap. By mobilizing capital, the fund aims to scale high-performance recycling infrastructure, unlock local innovation, and foster the next generation of circular economy leaders.
Portfolio Momentum and Regional Impact
To date, the fund has made four investments across Brazil, Colombia and Mexico, with more in the pipeline. These companies are already transforming high-value recycled materials including over 100,000 tonnes of plastic waste annually, creating more than 800 direct jobs, and strengthening regional supply chains for recycled materials that meet global brands standards.
Current Investments include:
Ambiental de Plasticos Recyclapet S.A.S,(Colombia): A leading recycler producing high-quality rPET for the Andean and Caribbean markets.
Cirklo (Brazil): The country's largest independent PET recycler, supporting the development of circular economy infrastructure.
Omnigreen SAPI de CV(Mexico): A pioneer in flexible plastic recycling; and
Polyrec (Colombia): a leading flexible plastics recycling company.
These investments build on Circulate Capital's proven model, honed through six years of building the largest portfolio of recycling companies in South and Southeast Asia. To date, the firm has backed 23 companies globally.
"Today's plastic problem is tomorrow's profit opportunity - if you know where to look. We're looking at Latin America," said Rob Kaplan, Founder and CEO of Circulate Capital. "In a shifting macroeconomic landscape, Latin America's high-growth markets are increasingly attractive for institutional and corporate investors alike."
Kaplan added: "Our portfolio companies are tackling three challenges at once: waste reduction, job creation, and cleaner communities across Latin America. From waste to wealth, from pollution to profit - that's the circular economy opportunity we're scaling across Latin America."
About Circulate Capital
Circulate Capital is a leading environmental impact investor advancing the circular economy for plastics in high-growth markets, with activities and teams in 10+ countries. Partnering with global brands and financial institutions, we transform supply chains at scale by delivering economic, social, and environmental value. Launched in 2018 by supply chain experts and leading corporations - including PepsiCo, Procter & Gamble, Dow, Danone, Chanel, Unilever, The Coca-Cola Company, Chevron Phillips Chemical, and Mondelez International - the firm is scaling solutions across the recycling and innovative materials value chains. Founded in and focused initially on South and Southeast Asia, Circulate Capital expanded its activities to Latin America in 2023 with the support of IDB Lab, Builders Vision, Chevron Phillips Chemical, Dow, Danone, Mondelez International, Unilever, and private investors.
Contact Information
Cindy Stoller
cstoller@confluencepartners.com
+1 917-331-0418
SOURCE: Circulate Capital
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/circulate-capital-closes-latin-america-and-caribbean-lac-fund-at-ove-1046904
