# Circulate Capital

> Circulate Capital is a VC fund backing Recycling and Waste Management. See 21 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: New York, United States
- Total investments: 21
- Last investment: Oct 2025
- Lead investor: 57%
- Fund size: $76M
- Last fund: Dec 2023
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/circulatecapital/
- Website: https://www.circulatecapital.com/

Circulate Capital is an investment management firm dedicated to incubating and financing companies and infrastructure that prevent ocean plastic. They focus on the prevention of mismanaged plastic waste in countries located in South Asia and Southeast Asia, regions that contribute disproportionately to ocean plastic pollution primarily because theyoften lack the critical waste infrastructure to manage the problem. They were created in collaboration with Closed Loop Partners and Ocean Conservancy, and their founding investors are expected to include PepsiCo, the first investor; Procter & Gamble, Dow, Danone, Unilever and The Coca-Cola Company. They are also supported by many other leading consumer product goods and chemical companies, intergovernmental organizations and associations including 3M, American Chemistry Council, Kimberly-Clark, Partnerships in Environmental Management for the Seas of East Asia (PEMSEA) and the World Plastics Council.

## Contacts

5 contacts available for Circulate Capital. Shizune tracks 2 team members at Circulate Capital. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/circulate-capital?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $3.8M–$7M |
| Series B | $13M–$37M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Recycling | 11 | 52% |
| Waste Management | 7 | 33% |
| Manufacturing | 4 | 19% |
| Biotechnology | 3 | 14% |
| Plastics and Rubber Manufacturing | 3 | 14% |

21 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Venture - Series Unknown | 5 | 24% |
| Seed | 4 | 19% |
| Series B | 3 | 14% |
| Series A | 2 | 10% |
| Debt Financing | 2 | 10% |

7 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| India | 4 | 19% |
| Indonesia | 4 | 19% |
| United States | 4 | 19% |
| Germany | 1 | 5% |
| Australia | 1 | 5% |

6 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Rob Kaplan | CEO & Founder | 10 | https://shizune.co/investors/profile/rob-kaplan |
| Margot Kane | Investment Committee Member | 2 | https://shizune.co/investors/profile/margot-kane |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Aevoloop | Aevoloop mission is to end plastic waste, transforming plastic from a finite to an infinite resource. | $3.8M | Seed | Oct 28, 2025 |  |
| Polindo Utama | PT Polindo Utama is recognized as a pioneer in recycled PET flake manufacturing in Indonesia. The company operates in the plastics manufacturing sector, focusing on converting plastic waste—specifically PET bottles—into high-quality recycled polyester chips and flakes used in various industries such as textiles, bottling, and food packaging.Thecompany is deeply committed to sustainability and the circular economy, aiming to reduce plastic pollution by recycling and reintegrating plastic waste into the supply chain. It has developed an extensive network of 23 collection centers across Indonesia to gather plastic waste from local communities and government-approved centers, reflecting its strong social and environmental responsibility |  | Venture - Series Unknown | Jul 03, 2025 |  |
| Pelita Mekar Semesta | PT. Pelita Mekar Semesta is a fully integrated plastic recycling company. The company specializes in collecting plastic waste and transforming it into reprocessed flakes, regrind, and pellets. Their product range includes HDPE Blow Film, HDPE Blow Bottle, LDPE Film, and LLDPE Film. By recycling plastic scraps, PT. Pelita Mekar Semesta contributesto environmental sustainability and offers quality plastic pellet products under the Saphire brand. |  | Venture - Series Unknown | Jul 03, 2025 |  |
| Earthodic | Earthodic is an Australian materials science business makes useful biobased coatings. | $3.9M | Seed | Oct 29, 2024 |  |
| Ricron Panel | Ricron Panel recycles, manufactures, and markets plain panels and eco-roof sheets. |  | Series A | Jul 09, 2024 |  |
| Recykal | Recykal is a cleantech startup for waste management that builds a digital marketplace and software platform connecting waste generators, recyclers, and brands to enable structured recycling and resource recovery. The company operates a managed platform where businesses can track, trade, and channel waste materials such as plastics, paper, metals,and electronics into recycling streams rather than disposal. Its platform supports Extended Producer Responsibility (EPR) compliance, helping companies meet regulatory requirements by managing the collection, recycling, and documentation of post-consumer waste. Recykal also provides tools for traceability, reporting, and verification so enterprises can monitor how their waste is processed across the recycling value chain.In addition to its marketplace, Recykal offers digital solutions such as deposit refund systems, take-back programs, IT asset disposal services, and data-driven analytics to improve recycling efficiency and participation. These systems are designed to increase recovery rates by incentivizing returns and improving coordination between collection networks and recycling operators. | $13.2M | Series B | Apr 10, 2024 |  |
| Algenesis | Algenesis is a material science and technology company on a mission to help the planet recover from the pollution caused by-products made from fossil fuels. The company is producing renewable polyurethanes from algae and non-food plant oils and partnering with companies to use these materials in surfboards and biodegradable flip flops.Algenesiswas established in 2016 and is based in San Diego, CA. | $5M | Seed | Oct 26, 2023 |  |
| Circ | Circ helps industries meet consumer expectations for sustainability without compromises in quality, price, or convenience. It recycles discarded clothing to produce the basis of petroleum- and plant-based fabrics. Tyton’s virgin-equivalent, market-grade dissolving pulp, and petroleum monomers can be sold at the same cost as virgin materials tomanufacturers who make fibers. Whether cotton, poly-cotton, polyester, nylon, or other fibers, it aims to cost-effectively recycle these materials using water as a solvent. It was founded in 2011 and is headquartered in Danville, Virginia. | $25M | Series B | Mar 01, 2023 |  |
| Lucro Plastecycle | Lucro Plastecycle recycles locally-sourced flexible plastic waste to manufacture flexible packaging products, such as shrink wrap and films. It also supplies recycled plastic granules to manufacturers for their production. |  | Venture - Series Unknown | Jul 27, 2022 |  |
| Circ | Circ helps industries meet consumer expectations for sustainability without compromises in quality, price, or convenience. It recycles discarded clothing to produce the basis of petroleum- and plant-based fabrics. Tyton’s virgin-equivalent, market-grade dissolving pulp, and petroleum monomers can be sold at the same cost as virgin materials tomanufacturers who make fibers. Whether cotton, poly-cotton, polyester, nylon, or other fibers, it aims to cost-effectively recycle these materials using water as a solvent. It was founded in 2011 and is headquartered in Danville, Virginia. | $30M | Series B | Jul 12, 2022 |  |

10 of 21 investments shown.

## Co-investors
- [Morgan Stanley](https://shizune.co/investors/profile/morgan-stanley) — VC Fund, 3 deals together
- [8090 Partners](https://shizune.co/investors/profile/8090-partners) — VC Fund, 2 deals together
- [Alante Capital](https://shizune.co/investors/profile/alante-capital) — VC Fund, 2 deals together
- [Breakthrough Energy Ventures](https://shizune.co/investors/profile/breakthrough-energy-ventures) — VC Fund, 2 deals together
- [Card Sound Capital](https://shizune.co/investors/profile/card-sound-capital) — VC Fund, 2 deals together
- [Climate Angels](https://shizune.co/investors/profile/climate-angels) — VC Fund, 2 deals together

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## FAQ

### What does Circulate Capital invest in?

Circulate Capital invests primarily in Recycling, Waste Management and Manufacturing startups, most often at Venture - Series Unknown and Seed stage. Most of the 21 investments tracked by Shizune back companies in India. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Circulate Capital's check size?

Circulate Capital typically joins rounds of $3.8M–$7M at Seed and $13M–$37M at Series B. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Circulate Capital participates in.

### How do I contact Circulate Capital?

Public channels for Circulate Capital include LinkedIn and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Circulate Capital?

The team at Circulate Capital includes Rob Kaplan (CEO & Founder) and Margot Kane (Investment Committee Member). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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