The Meloy Fund I, LP, an impact investment fund dedicated to helping coastal fishers transition to more sustainable practices, has launched with a first close of US$10m.
Investors include a diverse range of family offices, investment managers, and foundations. Lukas Walton will have a significant interest in the Meloy Fund via the Lukas Walton Fund of the Walton Family Foundation.
A second and final close, including US$6m anticipated from the Global Environmental Facility (GEF) as anchor investor, is projected for fall, 2017. Managed by Arlington, VA-based Rare, a global conservation organization, the fund targets US$20m of debt and equity investments in fishing-related enterprises that support the recovery of coastal fisheries in Indonesia and the Philippines.
The Meloy Fund deploys private capital to enterprises that can create value for fishing communities by improving upstream margins through supply chain efficiencies, waste-reduction, aggregation, and value-added processing, or providing fishing-related employment alternatives, such as ocean-based sustainable aquaculture.