The Constitutional Reserve Fund of Monaco has donated €10 million to the Ocean 14 Capital fund, a London-based impact fund that focuses on the multi-trillion dollar “blue economy.” Its main goal is to fund sustainable solutions to improve ocean health.
With this support, the UK impact fund hopes to invest in 8 enterprises this year and expand its portfolio to 20–25 companies over the course of three years.
What will the funds be used for?
The investment in growth-stage companies will be the primary focus of the Ocean 14 Capital fund. About two-thirds of the fund is expected to go to European-based businesses, with the remaining portion intended for investments elsewhere in the world.
The fund, which the OECD estimates would be worth $3T by 2030, aims to operate as a tidal surge to boost the blue economy, a sector that uses ocean resources for economic growth and preservation.
The private equity firm has already raised €100M since establishing its growth-stage impact fund in December 2021 after securing €10M.
“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, absorbs half the carbon, feeds the world, and employs hundreds of millions of people. It will be game over for humanity if it’s not functioning.”
“Philanthropy is doing a solid job, but institutions are realising that we need to overhaul the capital market to stand a chance of averting the climate crisis”
Chris Gorell Barnes, the founding partner of Ocean 14 Capital
What Is Ocean 14 Capital Fund Dedicated To?
Ocean 14 Capital Fund 1, a €150M impact fund established in 2021, is dedicated to advancing a sustainable and regenerative blue economy.
The business has already invested in SyAqua (a specialist in shrimp breeding technologies) and AION three times this year (plastic management platform).
In December 2021, the Ocean 14 Capital Fund announced a €80 million first close with backing from the European Investment Fund (EIF), Chr. Builders Vision, Minderoo Foundation, British billionaire Alex Beard, and Swedish tycoon Niklas Zennström are among the organisations that support Augustinus Fabrikker.
“I think this investment will enable Ocean 14 Capital to deliver the innovation needed to accomplish our climate and sustainability goals,” says Jean CASTELLINI, Monaco’s Minister of Finance and Economy.
“The sustainable blue economy is now a critical emphasis for us, and this is a call to action for start-up and scale-up marine entrepreneurs globally to come forward and help avoid the crisis in our oceans and return them to a healthy, thriving condition,” the statement reads.