Ocean 14 Capital Fund I, a €201 million fund that specializes in the blue economy, has successfully closed on its goal to support businesses in this sector. The fund’s ultimate aim is to boost the blue economy, projected to be worth $3 trillion by 2030 and create 40 million jobs.
Embracing the United Nations Sustainable Development Goal 14, “Life below Water,” the fund focuses on supporting entrepreneurs and businesses with innovative ideas in areas such as aquaculture, alternative proteins, plastic waste reduction, ecosystem protection, and ending overfishing.
As co-founder of Ocean 14 Capital Limited, Chris Gorell Barnes emphasized the importance of oceans as a critical life-support system for the planet. He highlighted the need to overhaul the capital market to combat climate change and ensure ocean sustainability. “The oceans are facing an existential threat,” he said. “We need to act now.”
Notable 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 their focus on creating climate impact through ocean and land-based preservation and restoration. “This fund is an opportunity for us to invest in sustainable solutions that will help mitigate climate change,” she said.
Gorell Barnes concluded by emphasizing the importance of sustainable businesses and the potential for this fund to support innovative and transformative businesses in the blue economy. “We believe that sustainable businesses are key to solving some of our most pressing challenges,” he said. “By investing in these businesses, we can help create a better future for our planet.”
