Ocean 14 Capital has raised €100m for its €150m-targeting impact fund

Ocean 14 Capital has picked up €10m from the Constitutional Reserve Fund of Monaco as its latest backing of its marine-focused fund. This brings the total raise to €100m for its €150m-targeting impact fund.

Ocean 14 has now raised €100m since launching in December last year. Backers include the European Investment Fund, Chr. Augustinus Fabrikker, Builders Vision, Minderoo Foundation, British businessman Alex Beard and Swedish entrepreneur Niklas Zennström.

The firm said it is on track to invest in eight companies this year and grow its portfolio to between 20 and 25 businesses within three years.

The Ocean 14 fund will focus exclusively on the blue economy including aquaculture and alternative proteins, reducing plastic waste pollution, protecting ecosystems and marine flora, and ending overfishing.

Two thirds of the fund will target companies based in Europe while the remainder will be invested in the rest of the world.

Chris Gorell Barnes, founding partner of Ocean 14 Capital, said, “Oceans are the critical life-support system for life on earth. If we are to save the planet, there is clear evidence that if we don’t have a healthy & functioning ocean, we have zero chance.

“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.

“Philanthropy is doing a solid job, but institutions are realising that we need to overhaul the capital market to really stand a chance of averting the climate crisis.

“That’s why we launched Ocean 14 Capital to bring in the necessary capital to transform the blue economy and make it sustainable and regenerative, so that we can protect and restore the oceans health and make sure this vital economy can prosper.”

The fund had already been tapped for the investments in shrimp breeding technology specialist SyAqua and plastic management platform AION.

Source: Alt Assets