Ocean 14 Capital Fund I, a €201 million fund that specializes in the blue economy, has successfully closed on funding to support businesses in this sector. The ultimate goal of the fund is to boost the blue economy, 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,” and focuses 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.
Notable investors in the fund include Nestlé and 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 Green Earth Impact Fund’s focus on creating climate impact through ocean and land-based preservation and restoration.
Gorell Barnes concluded by emphasizing sustainable businesses’ importance and how the fund can support innovative transformative businesses in the blue economy.
