The investment arm of Ingka Group, the largest owner and operator of IKEA, has invested €30 mln in a London-based fund focused on the blue economy, including food security and healthy marine and coastal ecosystems.
Ocean 14 Capital, a partnership between founders Vedra Partners, Pontos Aqua, and Blue Marine Foundation, has now raised €130 mln since the launch of the impact fund in Nov. 2021, it announced on Monday.
“There is a powerful undercurrent of momentum emerging as people are increasingly waking up to the fact that the ocean’s health is the engine to economic growth – and critical to national and global development,” Chris Gorell Barnes, Ocean 14 Capital co-founder, said in a statement.
“Is this the most important investment thesis of our time? We fervently believe yes. Without a healthy marine ecosystem there is zero chance of humanity surviving.”
Ocean 14 invests in companies involved in the blue economy, which the OECD says will be worth $3 trillion by 2030.
So far it has made four investments, including SyAqua, which provides tech solutions for shrimp hatcheries and farmers, and plastics circularity services firm AION.
The target is to grow a portfolio of 20-25 businesses within three years, and the company says it places equal emphasis on impact and investment.
It raised €80 mln at its first close in Nov. 21, with the European Investment Fund, Chr. Augustinus Fabrikker, and Builders Vision among the investors, while Monaco’s sovereign wealth fund is among those that have invested since.
Ocean 14 is targeting total investments of €150 mln.
Meanwhile, Ingka Investments said it chose Ocean 14 , “guided by the IKEA vision” to create a better everyday life for many.
“As a purpose-led company, we aim to invest with impact, delivering positive returns for communities and the environment for generations to come,” said Samuel Rundle, its head of financial market investments.
“Ocean health is critical to a cleaner and more inclusive recovery. We were very impressed with the strategy of the Ocean 14 team and are excited to support the acceleration of sustainable solutions to improve our oceans.”
By Stian Reklev – stian@carbon-pulse.com
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