With a total target of €300 million, the fund will back innovative, including aquaculture-related startups that tackle marine challenges such as overfishing, pollution and climate change.
Swen's inaugural Blue Ocean fund raised €170 million, and its investments into aquaculture included Noray Seafood, a Spanish shrimp RAS, with its general theme focusing on innovative startups working to support the regeneration of ocean biodiversity.
Swen says it saw significant investor interest in its new fund from across the world, raising 53 percent of the target at first close. This includes strong demand from pension funds, insurance companies, banks and family offices. Notable limited partners (LPs) include the European Investment Fund, France 2030, Bpifrance, Macif and Matmut.
Jérôme Delmas, CEO of Swen Capital Partners, said in a press release: “The Swen Blue Ocean strategy fully embodies the mission we have set for ourselves: putting investment at the service of nature. We are acutely aware of the responsibility we bear as investors, and of the role we can play by supporting high-impact projects with strong transformative potential — projects that can make a tangible contribution to the regeneration of marine biodiversity.”
Christian Lim, co-managing director of Swen Blue Ocean, added: “Our fund strategy remains more relevant than ever. Ocean action is growing in importance on the global stage, with the international community, governments and companies working together to prioritise ocean protection.”
The fund will primarily invest in Series A rounds, with a focus on European companies. However, 30 percent of the funds can now be deployed outside Europe, where Swen has identified a significant need for ocean biodiversity regeneration solutions. The larger fund size enables them to take more lead positions and to write first tickets of up to €12 million.
To support the fundraise and fund deployment, Swen has grown its blue ocean team to nine investment professionals with ambitions for further hires in the coming months.
Beyond investment, Swen is helping build the global ocean innovation ecosystem. It co-founded the 1000 Ocean Start-ups coalition in 2021, now counting around 50 members and collaborates with organisations including Ifremer, BlueInvest, and ChangeNow.
