Constitutional Reserve Fund of Monaco allocates €10m to London-based Ocean 14 Capital impact fund

Constitutional Reserve Fund of Monaco allocates €10m to London-based Ocean 14 Capital impact fund

Published: 07-09-2022 13:14:00 | By: Pie Kamau | hits: 3537 | Tags:

The Ocean 14 Capital fund, which focuses exclusively on the multi-trillion-dollar ‘blue economy’, has received a commitment of €10 million from the Constitutional Reserve Fund of Monaco to support its mission of funding sustainable solutions to improve ocean health.

With this backing, Ocean 14 Capital’s €150 million impact fund is on track to invest in eight companies this year, and to grow its portfolio to between 20 and 25 businesses within three years. Following the Principality of Monaco’s €10 million commitment from the sovereign wealth fund, the private equity firm has now raised €100 million since launching its growth-stage impact fund in December 2021.
 
Using the United Nations Sustainable Development Goal number 14: Life Below Water as a guiding principle, Ocean 14 Capital is searching for entrepreneurs and businesses with big ideas around aquaculture and alternative proteins, reducing plastic waste pollution, protecting ecosystems and marine flora, and ending overfishing. 
 
The Ocean 14 Capital Fund previously completed a €80 million first close in December 2021, with backers including the European Investment Fund (EIF), Chr. Augustinus Fabrikker, Builders Vision, Minderoo Foundation, and British businessman Alex Beard and Swedish entrepreneur Niklas Zennström.

Chris Gorell Barnes, Founding Partner, Ocean 14 Capital:  “Oceans are the critical life-support system for life on earth. If we are to save the planet, there is clear evidence that if we don’t have a healthy & functioning ocean, we have zero chance. 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. We launched Ocean 14 Capital to bring in the necessary capital to transform the blue economy and make it sustainable and regenerative, so that we can protect and restore the oceans health and make sure this vital economy can prosper.”

www.ocean14capital.com