Ocean sustainability solutions-focused private equity growth firm Ocean 14 Capital (O14C) announced today that it has raised €201 million for its impact fund Ocean 14 Capital Fund I.
Recent investors in the fund include global food and beverage company Nestlé, private equity investor HQ Capital and The Green Earth Impact Fund managed by Schroders and BlueOrchard.
Launched in 2020, O14C is focused on solving UN Sustainable Development Goal 14, Life Below Water, which aims to “conserve and sustainably use the oceans, seas and marine resources for sustainable development,” by investing in solutions focused on driving a sustainable and regenerative “blue economy.”
According to the World Bank, the Blue Economy is defined as the “sustainable use of ocean resources for improved livelihoods and jobs, and ocean ecosystem health.” Blue economy-related activities encompass a wide variety of area, including renewable energy, fisheries, maritime transport, tourism, and waste management.
The fund invests in late-stage venture and early-stage growth companies with solutions addressing key themes of food security and marine ecosystems, along five verticals, including sustainable aquaculture, alternatives to sigh protein, sustainable fisheries, marine flora & seaweed, and circular plastics.
Chris Gorell Barnes, co-founder of O14C, 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.”
According to Nestlé, the investment in the O14C fund aligns with its sustainability goals, and is also aimed at providing opportunities to help advance the sustainability journey of its Nestlé Purina PetCare category, by exploring low-carbon ingredients such as alternative proteins for pet food, ensuring sustainable sourcing within its value chain, and protecting the ocean ecosystem.
Dan Smith, Head of Nestlé Purina’s Global Business Unit, said:
“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. 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.”