Malaysian private equity (PE) firm Bintang Capital Partners Bhd on Thursday announced that it has invested an undisclosed sum in Singapore-based waste management solutions company Blue Planet Environmental Solutions Pte Ltd.
In a statement, Bintang said the investment was done from its maiden fund, BCP Asia Fund I LP. The capital will be used to help Blue Planet expand its operational teams and waste management technologies, enabling it to handle a wider range of waste types in existing and new markets.
“We are incredibly excited to have Bintang on board Blue Planet’s family of impact-focused investors,” said Blue Planet founder Madhujeet Chimni. “With Bintang’s support, we have greater confidence and optimism in moving towards our vision of a zero waste-to-landfill future,” he added.
Blue Planet, which currently operates in India, Malaysia, Singapore, and the UK, uses proprietary technology for various solutions such as collecting and sorting waste, reclaiming materials from waste, turning waste into energy, recycling, and creating “valuable” products from waste.
It was found in 2017 by Chimni, Bharadwaj Chivukula, as well as Prashant Singh, and claims to have processed 3.3 million tonnes of waste and mitigated an equivalent of 2 million tonnes of CO2 emissions in 2022 alone.
Blue Planet had previously obtained investments from other sources, including the State Bank of India (SBI)-backed Neev Fund, Malaysia-based PE firm OSK Ventures International Bhd, as well as Japan-based PE firm Mizuho Asia Partners.
Blue Planet has also acquired a number of waste management-related companies globally, such as Disaster Restoration Singapore Pte Ltd, India-based Xeon Waste Managers, and UK-based Qube Renewable Ltd.
Bintang, the PE arm of Malaysian asset management group AHAM Asset Management Berhad, is backed by global investment manager CVC Capital Partners and Nikko Asset Management, as well as Malaysia’s Armed Forces Fund Board (LTAT) and investment fund Dana Penjana Nasional.
It claims to be the first B Corp Certified PE firm in Southeast Asia and focuses on investing in successful mid-sized ASEAN companies aligned with their impact and innovation philosophy.
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : DealStreetAsia – https://www.dealstreetasia.com/stories/bintang-capital-blue-planet-357189/