Ocean 14 Capital fund to “supercharge” multi-trillion-pound 'blue economy'

The Ocean 14 Capital fund, focusing exclusively on the multi-trillion-pound ‘blue economy’, has received an investment for €30m (approx. £26.5m) from Ingka Investments to support its mission of funding sustainable solutions to improve ocean health.

It marks the first time Ingka Investments has invested in the ‘blue economy’, a sector using ocean resources for economic growth and preservation.

Following the Principality of Monaco’s €10m (£8.8m) commitment from the sovereign wealth fund in September 2022, London headquartered Ocean 14 Capital has now raised €130m (£115m) since launching its growth-stage impact fund in November 2021.

With this backing, the purpose-led €150m (£132.6m) impact fund believes it is well on track to grow its portfolio to between 20 and 25 businesses within three years, having invested in four companies to date.

The fund’s mission is to “supercharge the blue economy”, which is expected to be worth $3tn (£2.48tn) by 2030, according to the OECD. At the same time, it will reportedly provide jobs to 40 million people.

Chris Gorell Barnes, co-founder of Ocean 14 Capital, commented: “It is a real testament to the quality of our fund and intention that Ingka Investments has come on board in such a significant capacity. If there’s no ocean, there’s no us - it connects us all. It provides food security and plays a vital role in achieving the UN sustainability agenda.

“Davos 2023 radically shifted the dial on the conversation this year. There is a powerful undercurrent of momentum emerging as people are increasingly waking up to the fact that ocean’s health is the engine to economic growth - and critical to national and global development.

“Is this the most important investment thesis of our time? We fervently believe yes. Without a healthy marine ecosystem there is zero chance of humanity surviving.

“I’d like to think we are at the tipping point of where the blue economy becomes mainstream. In less than two years we have backed four ground-breaking growth-stage companies, doing extraordinary work. So for Ingka Investments to recognize this just spurs us on further.

“Tackling climate change and food security is vital for retailers - ocean health has a direct positive impact for consumers and commerce”.

By Matthew Neville – Senior Correspondent, Bdaily

• Add me on LinkedIn and Twitter to keep up to date
• And follow Bdaily on Facebook, Twitter and LinkedIn
• Submit press releases to editor@bdaily.co.uk for consideration.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →