Ocean 14 Capital: Navigating Sustainable Growth in the Blue Economy with €30 Million Commitment – Ocean 14 Capital, a London-based investment firm with a focus on the blue economy, has recently announced its latest commitment towards fostering sustainable marine ventures. This commitment amounts to a total of €30m (£25.8m), comprising €20m (£17.2m) contributed by Convex, a prominent insurance business, and €10m (£8.6m) from a combination of family offices and high net worth individuals. The injection of capital is set to drive transformative developments in various sectors within the blue economy.
One of Ocean 14 Capital’s significant investments is directed towards Tilabras, a Brazil-based animal protein producer, which has received €10m. This strategic investment aligns with the growing demand for sustainable food sources and emphasizes Ocean 14’s commitment to supporting eco-friendly alternatives in the protein industry. Another notable investment has been made in Ava Ocean, a Norwegian manufacturer of seafood harvesting gear. With a €10m injection, Ocean 14 aims to catalyze change within the scallop fishing industry. Chris Gorell Barnes, a founding partner of Ocean 14 Capital, highlights the importance of this investment, citing the detrimental environmental impact of current scallop harvesting practices. He underscores that while the global scallop export market is valued at approximately $2.5 billion, the industry’s reliance on damaging dredging methods poses a grave threat to seabed ecosystems and biodiversity.
Ocean 14 Capital envisions expanding its portfolio by incorporating around 20-25 companies over the next three years. This ambitious goal is a testament to their commitment to nurturing a diverse array of sustainable blue economy ventures. With this trajectory, Ocean 14 Capital’s fund has now swelled to €160m (£137.5m), and its value is projected to reach €200m (£171.8m) by the year 2024. This influx of funds indicates growing investor interest and confidence in the potential of the blue economy to drive positive environmental and economic change.
In earlier funding rounds, Ocean 14 Capital secured investments from prominent entities including the European Investment Fund, Niklas Zennström, co-founder of Skype, and the sovereign wealth fund of Monaco. These partnerships underline the broader industry’s recognition of the pivotal role that sustainable marine ventures can play in shaping the global economy.
Chris Gorell Barnes expresses a holistic vision for the future, stating that Ocean 14 Capital’s endeavors are geared towards propelling the blue economy into the mainstream. By championing ocean health, the firm aims to create a ripple effect that extends beyond environmental conservation to directly benefit consumers and commerce on a global scale. Through their strategic investments, Ocean 14 Capital is poised to be a driving force in reshaping industries, fostering sustainability, and promoting the responsible utilization of our planet’s aquatic resources.
Ocean 14 Capital: Navigating Sustainable Growth in the Blue Economy with €30 Million Commitment