Initiative to Commit €60m of Ocean 14 Capital’s €150m Inaugural Impact Fund

The European Investment Fund (EIF), Chr. Augustinus Fabrikker, Builders Initiative and Minderoo Foundation have approved commitments to become cornerstone investors in Ocean 14 Capital’s inaugural fund, the first large investment fund to focus exclusively on the blue economy.

EIF has approved a commitment of €35 million to the fund, while Chr. Augustinus Fabrikker is allocating €15 million. Builders Initiative and Minderoo Foundation will commit €10 million together, bringing the total to €60 million.

The fund is a unique combination of marine industry and nature conservation knowledge that comes from Ocean 14 Capital, a private equity firm focused on the United Nations’ Sustainable Development Goal 14 (SDG14), which aims to conserve and sustainably use the oceans, seas and marine resources for sustainable development.

The Ocean 14 Capital Fund will target investments in growth-stage technologies and companies promoting sustainable fishing, aquaculture and alternative proteins as well as ocean conservation and health including marine flora and plastic waste solutions.

The EIF investment is guaranteed by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe. It also falls under BlueInvest, a European Commission initiative created in 2020 and supported by the EIF. BlueInvest is an endorsement of the importance of the global blue economy, which according to OECD predictions will grow from $1.5 trillion in 2016 to $3 trillion by 2030 and will provide 200 million jobs.

European Investment Fund Chief Executive, Alain Godard, said: “The EIF is proud to be an anchor investor in Ocean 14 Capital Fund I, which aims to foster innovation and sustainability in the marine economy. The Blue Economy is strategic to the European Green Deal. We believe that our commitment will catalyze further investments and help create a well-functioning European equity ecosystem for this sector.”

European Commissioner for Environment, Oceans and Fisheries, Virginijus Sinkevičius, said: “With BlueInvest, the Commission and the EIF have a powerful instrument in place to promote the sustainable blue economy as a cornerstone of the European Green Deal. We encourage innovative small and medium sized companies and start-ups to take advantage of the funds and we believe that the funds will enable them to deliver the innovation needed to meet our climate and sustainability goals.”

Chr. Augustinus Fabrikker, Chief Executive Officer, Claus Gregersen said: “Impact investments are an important part of Chr. Augustinus Fabrikker’s investment strategy and with the investment in Ocean 14 Capital we will total ten impact investments. Our interest in Ocean 14 Capital stems from the importance we see in ensuring sustainable business practices in the ocean to foster future prosperity for this vital part of our ecosystem alongside the unique capabilities we have identified within the team. For this reason, we are delighted to become a cornerstone investor in this exciting venture”.

Minderoo Foundation’s Flourishing Ocean Chief Executive Officer, Dr. Tony Worby, said: “In line with SDG14, our key objective through the Flourishing Ocean’s initiative is to return our ocean to a healthy thriving state. To facilitate this, we are committed to ending overfishing; ending the dumping of plastic, heat and CO₂ in our ocean; supporting the sustainable use of ocean resources; conserving key habitats; and facilitating world class research. This is why we are supporting Ocean 14 Capital’s new venture that will invest in projects aligned to our objectives”.

Builders Initiative’s Senior Program Officer, Peter Bryant, said: “Builders Vision Fund is excited to be part of Ocean 14 Capital’s first close. Builders is committed to developing the ecosystem of businesses focused on ocean health and sustainability. We believe the team at Ocean14 Capital have the drive and commitment to lead this impact-focused growth fund for oceans to meaningful market investments that can improve the health of our oceans”.