Funding

Ocean 14 Capital Fund funding news – Luxembourg-based Ocean 14 Capital Fund I Secures €201 million in Funding

May 10, 2024 | By Startup Rise EU

Luxembourg-based Ocean 14 Capital Fund I, which has raised €201 million to further its goal of supporting long-term solutions that enhance ocean health. The Fund now has more than €240 million as a result.

Luxembourg-based Ocean 14 Capital Fund I, which has raised €201 million to further its goal of supporting long-term solutions that enhance ocean health. The Fund now has more than €240 million as a result.

SUMMARY

  • Ocean 14 Capital Fund I, founded in Luxembourg and dedicated solely to the multitrillion dollar "blue economy," secures  €201 million funding
  • This funding is use to further its goal of providing funds for environmentally friendly ways to enhance ocean health.

The goal of the Ocean 14 Capital Fund is to promote a "blue economy" that is both sustainable and regenerative, one that makes use of ocean resources for both preservation and economic expansion.

The Fund makes investments in ventures and companies that have great ideas related to preventing overfishing, safeguarding marine flora and ecosystems, decreasing plastic waste pollution, and aquaculture and alternative proteins.

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Chris Gorell Barnes, co-founder of Ocean 14 Capital Limited said: “Oceans are the critical life-support system for life on earth. The ocean provides half the oxygen we breathe, it absorbs half the carbon, it feeds the world, it employs hundreds of millions of people. If it’s not functioning it will be game over for humanity. Institutions are now awakening to the fact that we need to overhaul the capital market to stand a chance of averting the climate crisis.”

In order to raise the money required to change the blue economy and make it sustainable and regenerative, the Ocean 14 Capital Fund was established.

Read also - Early Game Ventures funding news – Venture Capital Firm Early Game Ventures Secures €60Million in Funding

Dan Smith, Head of Nestlé Purina’s Global Business Unit, shared: “The world's oceans have suffered from overfishing, pollution, and climate change, resulting in the dramatic loss of marine habitats. That's why we are delighted to collaborate with the Ocean 14 Capital Fund I, a visionary partner that is at the forefront of exploring this field.”

Natalie Wong, Investment Director, Schroders Capital and Daniel Freedman, Senior Portfolio Manager, BlueOrchard said: “We are thrilled to be investors in the Ocean 14 Fund I which marks a key milestone as The Green Earth Impact Fund’s first dedicated investment in the Blue Economy. We believe this investment has great potential to deliver on our impact goals while also generating attractive financial returns.”

Among the investments in the portfolio are Novelplast, an Irish plastics recycling firm, and Ava Ocean, a Norwegian company that specialises in dredging to capture seafood from the seabed while maintaining delicate ocean habitats and priceless carbon sinks.

About Ocean 14 Capital

The goal of Ocean 14 Capital, a special partnership between Gottex and Pontos Aqua, the founders of the Blue Marine Foundation, is to address Sustainable Development Goal 14: Life Below Water of the United Nations. Ocean 14 Capital has earned the B CorpTM certification, demonstrating its dedication to protecting and investing in the ocean.

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