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Tuesday, May 28, 2024

Ocean 14 Capital Fund providing transformative investment for blue economy closes at €200m

Ocean 14 Capital Fund I, focusing exclusively on the multi-trillion-dollar “blue economy”, has announced it has closed on €201 million to support its mission of funding sustainable solutions to improve ocean health.

Chris Gorell Barnes
Chris Gorell Barnes, co-founder of Ocean 14 Capital Limited

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. 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.

The world’s largest food and beverage company Nestlé, HQ Capital and The Green Earth Impact Fund managed by Schroders and BlueOrchard have recently invested in the fund, positioning it as the largest in the blue economy.

“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,” said Chris Gorell Barnes, co-founder of Ocean 14 Capital Limited.

Using the United Nations Sustainable Development Goal number 14: Life Below Water as a guiding principle, Ocean 14 Capital 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.

The Fund aims to act as a tidal surge to supercharge the blue economy, which is expected to be worth $3 trillion by 2030, according to the OECD. At the same time, it will provide jobs to 40 million people.

Dan Smith, Head of Nestlé Purina’s Global Business Unit, said: “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.

“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.”

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