Nestlé joins €201m fund for start-ups trying to clean up oceans

Nestlé is taking action because “the world’s oceans have suffered from overfishing, pollution and climate change”

Photography © George Duffield

Dive Deeper
Simon Freeman – The Times

Nestlé is seeking to strengthen its green credentials by joining a €201 million fund backing start-ups working to clean up the world’s oceans.

The world’s biggest food and drinks company, whose brands include Perrier and S Pellegrino mineral water, has invested in a closing round of Ocean 14 Capital Fund, alongside institutional backers including HQ Capital and The Green Earth Impact Fund managed by Schroders and BlueOrchard.

Dan Smith, 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.

Ocean 14 is a visionary partner and together, we aim to drive innovation and create positive change by preserving and harnessing the power of the ocean’s resources.”

To read the full article in The Times, click here.

To read the Press Release, click here.

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“This investment will enable Ocean 14 Capital to deliver the innovation needed to meet our climate and sustainability goals. The sustainable blue economy is now a key focus for us and this is a rallying cry for start-up and scale-up marine innovators globally to come forward and help avert the crisis in our oceans and return them to a healthy thriving state.”

Jean Castellini Minister of Finance and Economy of Monaco

“There has never been a more important time to invest in the oceans as a critical way to protect our planet and combat climate change. I am excited to back Ocean 14 Capital and their vision to make a significant positive impact in the blue economy.”

Niklas Zennström

“Builders Vision Fund is excited to be part of Ocean Capital Fund I’s first close. Builders is committed to developing the ecosystem of businesses focused on ocean health and sustainability. We believe the team at Ocean14 Capital have the drive and commitment to lead this impact-focused growth fund for oceans to meaningful market investments that can improve the health of our oceans.”

Peter Bryant Senior Program Officer, Builders Initiative

“Impact investments are an important part of Chr. Augustinus Fabrikker’s investment strategy and with the investment in Ocean 14 Capital Fund I we will total ten impact investments. Our interest in Ocean 14 Capital stems from the importance we see in ensuring sustainable business practices in the ocean to foster future prosperity for this vital part of our ecosystem alongside the unique capabilities we have identified within the team. For this reason, we are delighted to become a cornerstone investor in this exciting venture.”

Claus Gregersen Chief Executive Officer, Chr. Augustinus Fabrikker

“In line with SDG14, our key objective through the Flourishing Ocean’s initiative is to return our ocean to a healthy thriving state. To facilitate this, we are committed to ending overfishing; ending the dumping of plastic, heat and CO2 in our ocean; supporting the sustainable use of ocean resources; conserving key habitats; and facilitating world class research. This is why we are supporting a new venture where the Ocean 14 Capital Fund will invest in projects aligned to our objectives.”

Dr. Tony Worby Chief Executive Officer, Minderoo Foundation’s Flourishing Ocean