An investment fund focused on the ‘blue economy’ has received a commitment of €10 million from the Constitutional Reserve Fund of Monaco to help improve ocean health.
With this backing, Ocean 14 Capital has now raised €100 million since launching in December 2021 and is on track to invest in eight companies this year and to grow its portfolio to between 20 and 25 businesses within three years.
To help safeguard the blue economy, which the OECD estimates will be worth US$3 trillion by 2030 and providing jobs for 40 million people, Ocean 14 Capital is searching for entrepreneurs with ideas in aquaculture and alternative proteins, reducing plastic waste pollution, protecting ecosystems and ending overfishing.
“Oceans are the critical life-support system for life on earth,” said Chris Gorell Barnes, founding partner of Ocean 14 Capital. “If it’s not functioning, it will be game over for humanity.
“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.”
Ocean 14 Capital’s impact investment fund has already made three investments this year, including in shrimp breeding technology specialist SyAqua and in Norwegian plastic management platform AION.
Around two thirds of the fund will go to companies based in Europe, with the remainder used to invest in the rest of the world.
