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A significant new impact fund has been launched, targeting ambitious investments in entrepreneurs and businesses that mitigate adverse effects on marine ecosystems. The blue economy is poised for a substantial uplift following the establishment of a new €200 million fund to foster sustainable practices that enhance ocean health.
Late last week, the Ocean 14 Capital Fund I revealed it had successfully closed at €201 million. This considerable sum was amassed with support from a diverse group of high-profile corporate and institutional investors. Notable contributors include Nestlé, HQ Capital, and The Green Earth Impact Fund, jointly managed by Schroders and BlueOrchard. This investment positions it as the largest fund globally dedicated to a blue economy, a sector projected by the OECD to reach a valuation of $3 trillion by 2030.
The Fund said it would invest in "entrepreneurs and businesses with big ideas around aquaculture and alternative proteins, reducing plastic waste pollution, protecting ecosystems and marine flora, and ending overfishing".
"The world's oceans have suffered from overfishing, pollution, and climate change, resulting in the dramatic loss of marine habitats," said Dan Smith, head of Nestlé Purina's Global Business Unit. "That's why we are delighted to collaborate with the Ocean 14 Capital Fund I, a visionary partner that is at the forefront of exploring this field. Together, we aim to drive innovation and create positive change by preserving and harnessing the power of the ocean's resources to ensure a more sustainable future. We recognise the potential within the blue economy and are dedicated to seizing the opportunities it presents."
Chris Gorell Barnes, co-founder of Ocean 14 Capital Limited, said the fund's investors had recognised the huge risks associated with damaged ocean ecosystems.
"Oceans are the critical life-support system for life on earth," he said. "The ocean provides half the oxygen we breathe, it absorbs half the carbon, it feeds the world, it employs hundreds of millions of people. If it's not functioning, it will be game over for humanity. Institutions are now awakening to the fact that we need to overhaul the capital market to stand a chance of averting the climate crisis.
"That is why the Ocean 14 Capital Fund was launched: to bring in the necessary capital to transform the blue economy and make it sustainable and regenerative, protect and restore the ocean's health, and make sure this vital economy prospers. It's a huge testament to the team and their strategy that in this environment, they have obtained investment from like-minded investors who share the desire to make a difference - to help preserve a flourishing ocean, maintain precious marine ecosystems, and protect global food security across the globe."
The fund has already committed over €60 million across 14 strategic investments, focusing on innovative companies that address critical challenges like overfishing and plastic pollution. This strategic approach ensures that the fund is making a tangible difference in the blue economy, instilling confidence in its potential for success.
One such investment is in Bureo, an innovative company that transforms discarded fishing nets into recycled materials from significant brands, including Patagonia, Toyota, and Trek. This initiative not only reduces waste but also promotes sustainability across industries.
Additionally, the fund has supported The Kingfish Company in the Netherlands, which leverages advanced land-based recirculating aquaculture systems (RAS) to become Europe's leading producer of premium yellowtail kingfish. Furthermore, Ava Ocean has received backing for its pioneering low-impact seabed harvesting technology. This technology enables the sustainable collection of seafood, such as scallops, while preserving marine ecosystems, biodiversity, and carbon sinks, setting a new standard in the seafood industry.
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