A new fund, Ocean 14 Capital Fund I, has successfully raised €201 million to support businesses in the blue economy. The fund’s ultimate goal is to boost this sector, projected to be worth $3 trillion by 2030 and create 40 million jobs.
The fund embraces the United Nations Sustainable Development Goal 14, “Life below Water,” by focusing on supporting entrepreneurs and businesses with innovative ideas in areas such as aquaculture, alternative proteins, plastic waste reduction, ecosystem protection, and ending overfishing.
Chris Gorell Barnes, co-founder of Ocean 14 Capital Limited, highlighted the importance of oceans as a critical life-support system for the planet. He emphasized the need to overhaul the capital market to combat climate change and ensure ocean sustainability.
Investors in the fund include Nestlé and the Green Earth Impact Fund, managed by Schroders and BlueOrchard. Schroders Capital investment director Natalie Wong expressed excitement about investing in Ocean 14 Fund I as it aligns with the Green Earth Impact Fund’s focus on creating climate impact through ocean and land-based preservation and restoration.
Gorell Barnes concluded by emphasizing the importance of sustainable businesses and the potential for the fund to support innovative and transformative businesses in the blue economy.
