Luxembourg-based Ocean 14 Capital Fund I, focusing exclusively on the multi-trillion-dollar ‘blue economy, ' has closed with €201 million to support its mission of funding sustainable solutions to improve ocean health. This brings the Fund to over €240 million.
The Ocean 14 Capital Fund is focused on driving a sustainable and regenerative “blue economy” — a sector that uses ocean resources for economic growth and preservation.
The Fund invests in entrepreneurs and businesses with big ideas around aquaculture and alternative proteins, reducing plastic waste pollution, protecting ecosystems and marine flora, and ending overfishing.
Chris Gorell Barnes, co-founder of Ocean 14 Capital Limited said:
“Oceans are the critical life-support system for life on earth. 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.”
The Ocean 14 Capital Fund was launched to bring in the necessary capital to transform the blue economy and make it sustainable and regenerative.
Following the closing at the end of March, the impact fund has added a host of large institutional investors to its already high-profile list including Nestlé, HQ Capital and The Green Earth Impact Fund managed by Schroders and BlueOrchard.
Dan Smith, Head of Nestlé Purina’s Global Business Unit, shared:
“The world's oceans have suffered from overfishing, pollution, and climate change, resulting in the dramatic loss of marine habitats. 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.”
Natalie Wong, Investment Director, Schroders Capital and Daniel Freedman, Senior Portfolio Manager, BlueOrchard said:
“We are thrilled to be investors in the Ocean 14 Fund I which marks a key milestone as The Green Earth Impact Fund’s first dedicated investment in the Blue Economy.
We believe this investment has great potential to deliver on our impact goals while also generating attractive financial returns.”
To date the Ocean 14 Capital Fund has made 14 investments and deployed over €6 million
Investments within the portfolio include Ava Ocean, a Norwegian company that focuses on dredging to harvest seafood from the seabed while protecting fragile ocean habitats and invaluable carbon sinks, and Irish plastics recycling company Novelplast.
Lead image: George Duffield via Ocean 14 Capital Fund.
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