Ocean 14 Capital, a London, UK-based impact fund focused exclusively on the multi-trillion-dollar ‘blue economy’, received an investment of €30m from Ingka Investments, the investment arm of Ingka Group which represents the largest IKEA retailer.
Following the Principality of Monaco’s €10m commitment from the sovereign wealth fund in September 2022, Ocean 14 Capital has now raised €130m. The fund previously completed an €80m first close in November 2021, with backers including the European Investment Fund (EIF), Chr. Augustinus Fabrikker, Builders Vision, Minderoo Foundation, and British businessman Alex Beard and Swedish entrepreneur Niklas Zennström.
With this backing, the purpose-led €150m impact fund is on track to grow its portfolio to between 20-25 businesses within three years, having invested in four companies to date.
Led by Chris Gorell Barnes, Max Gottshalk, and George Duffield, Ocean 14 Capital Fund 1 SCSp is an impact fund focused on driving a sustainable and regenerative blue economy (which is the sector using ocean resources for economic growth and preservation). It is searching for entrepreneurs and growth businesses in Europe with big ideas around aquaculture and alternative proteins, reducing plastic waste pollution, protecting ecosystems and marine flora, and ending overfishing.
The fund is aiming that around two thirds of the fund will go to companies based in Europe, with the remainder aimed to be used to invest in the rest of the world.
FinSMEs
13/02/2023