The Ocean 14 Capital Fund I, focusing on the marine ‘blue economy’, has announced it has closed on €201m to fund sustainable solutions to improve ocean health.

Following the closing at the end of March, the impact fund has added a host of large institutional investors to its already list, including Nestlé, HQ Capital and The Green Earth Impact Fund managed by Schroders and BlueOrchard.

Using the UN Sustainable Development Goal number 14: Life Below Water as a guiding principle, Ocean 14 Capital Fund invests in entrepreneurs and businesses with big ideas around aquaculture and alternative proteins, reducing plastic waste pollution, protecting ecosystems and marine flora, and ending overfishing.

The Fund aims to act as a tidal surge to supercharge the blue economy, which is expected to be worth $3tr by 2030, according to the OECD.

“Together, we aim to drive innovation and create positive change by preserving and harnessing the power of the ocean’s resources to ensure a more sustainable future. We recognise the potential within the blue economy and are dedicated to seizing the opportunities it presents,” said Dan Smith, head of Nestlé Purina’s Global Business Unit.

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