ImpactAlpha, September 12 — Investing in sustainable and regenerative oceans is a multi-trillion-dollar global opportunity that could create 40 million jobs by 2030, says the Organization for Economic Co-operation and Development, or OECD.
London-based fund manager Ocean 14 launched an ocean impact fund in December and is looking to raise €150 million ($152.3 million).
Ocean14 has attracted $102 million in commitments from investors such as Chr. Augustinus Fabrikker, the investment management arm of Denmark’s Augustinus Foundation; Lukas Walton’s Builders Initiative; Australia’s Minderoo Foundation; British businessman Alex Beard; and Swedish entrepreneur Niklas Zennström.
The European Investment Fund, last year committed €35 million, backed by a first-loss guarantee from the European Fund for Strategic Investments. The Constitutional Reserve Fund of Monaco is the latest investor to join the fund, with €10 million.
The ocean fund will target growth-stage investments in technology companies in sustainable fish and aquaculture, alternative protein and ocean health and conservation.
“The ocean provides half of the oxygen we breathe. It absorbs half the carbon. It feeds the world. It employs hundreds of thousands of people,” said Ocean 14’s Chris Gorell Barnes. “We have zero chance to save the planet if we don’t have a healthy and functioning ocean.”
Two-thirds of the fund will go towards investments in Europe. The fund has backed three companies, including Singapore’s SyAqua, a shrimp breeding tech startup, and Norwegian plastic management venture AION.