© George Duffield
Ocean 14 Capital Fund I, focussing exclusively on the multi-trillion-dollar blue economy, has announced it has closed on €201 million to support its mission of funding businesses within this emerging sector. The fund aims to supercharge the blue economy, which has been projected to be worth $3 trillion by 2030, providing up to 40 million jobs.
The fund aims to use the United Nations Sustainable Development Goal 14, “Life below Water,” as a guiding principle in its investments, supporting entrepreneurs and businesses with big ideas around aquaculture and alternative proteins, reducing plastic waste pollution, protecting ecosystems and marine flora, and ending overfishing.
“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, in a press announcement.
The fund has attracted the support of several high-profile investors including the contentious food and beverage giant Nestlé and the Green Earth Impact Fund, managed by Schroders and BlueOrchard.
“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,” said Schroders Capital investment director Natalie Wong.
“Green Earth Impact Fund which is jointly managed by BlueOrchard and Schroders aims to create broad based climate impact in areas including ocean and land-based preservation and restoration. We believe this investment has great potential to deliver on our impact goals while also generating attractive financial returns,” she added.
“Looking forward, the most sustainable businesses will be the most valuable so this is an exciting investment opportunity encapsulating innovation and technology to create truly transformational businesses,” concluded Gorell Barnes.
