Download the full report here.

Introduction

Ocean 14 Capital is a signatory of the Sustainable Blue Economy (SBE) Principles. Ocean 14 Capital Fund I (O14C), as an impact fund that was established to invest in businesses with a positive impact on the oceans generally, and SDG14 specifically, believes our policies, practices, activities and investments are well-aligned with the SBE principles.

O14C is an Article 9 Fund under the EU Sustainable Finance Disclosure Regulation (SFDR), with the stated objective of contributing to the top four targets of SDG14, a commitment that all the fund’s investments are sustainable investments that do no significant harm, and the application of Minimum Safeguarding Standards. This further reinforces our alignment with the SBE Finance Principles.

Fund Objectives and Status

O14C’s investment strategy is to invest in equity and equity-like securities in growth companies, two thirds in Europe, with the overall aim of providing investors with a competitive return on capital, and to generate positive environmental impact that contributes to the UN Sustainable Development Goal 14 on “Life below water”.

O14C’s first SBE report was presented in May 2022, when no investments had been made. The focus had been on preparing impact investment strategy and developing processes and procedures for impact assessment and measurement to support the strategy. The Fund began deploying capital later in 2022, with four investments made during that year. A further six investments were made in 2023 and four in 2024.

Alignment with global agreements

Sustainable development goals

The fund has been explicitly set up to make quantifiable contributions to SDG14. We also deliberately seek to create positive impact for other SDGs and avoid negative (unintended) impacts.

Kunming Montreal Global Biodiversity Framework

The UN Finance initiative proposes the following three broad actions for investors:

• Integrate biodiversity into investment decision-making;
• Invest in innovative financial solutions to help mobilise the USD200bn/year needed to meet the GBF’s objective;
• Disclose nature-related dependencies, impacts, risks and opportunities.

As an ocean-focussed impact fund, we believe we are moving strongly on the first two actions. We are currently evaluating how we can engage with TNFD. We aim to be able to disclose on nature related dependencies and impacts, and on the associated risks and opportunities, across our portfolio by the end of 2025.

Paris Agreement Alignment

Most of the fund’s asset allocation to date is in companies which have a direct or indirect GHG mitigation contribution. The fund’s assets do not yet have science-based targets to ensure alignment with the Paris Agreement.

SBE Targets

O14C’s primary SBE-relevant target is that 100% of investments must have quantifiable SGD14 impact. This is a requirement of our investment policy and of our SFDR precontractual disclosures.

In addition, each portfolio company has impact targets, set at the point of investment. Attainment of these targets determines whether 30% of O14C’s carried interest is disbursed to the Fund.

During the due diligence process prior to investment, O14C applies thresholds to manage the risk of an investment causing significant harm. These include:

Exclusions:

• O14C will only make investments that comply with, and where possible exceed, relevant legal and regulatory requirements and, where applicable, international well recognised standards.
• O14C will only make investments where there is alignment with the investee company’s management regarding impact goals.
• O14C will not invest in activities which entail significant risk of harming endangered species.
• The core of O14C’s investment thesis is to identify companies with a strong convergence of impact and commercial drivers. Where no such convergence or potential convergence exists in the company’s business model, O14C does not invest.

Qualitative thresholds:

• For potential impacts such as GHG emissions, where activities with zero emissions are very rare, the O14C’s due diligence ensures that investments are selected which demonstrate, or have the potential to demonstrate, low GHG emissions relative to competing products or services in the given sector.

Investments made to date and alignment with SDG14

At the end of 2024, O14C’s portfolio included the following investments, each of which aims to have various positive impacts, including measurable positive impact on SDG14:

Governance – an investment process to deliver sustainable investments

Ocean 14 Capital has put in place mechanisms designed to ensure that investment decisions made by the fund deliver impact.  To ensure that the fund invests in sustainable enterprises, O14C has deployed a proprietary evaluation process, which integrates sustainability risks into investment decisions through full-spectrum qualitative and quantitative ESG and impact due diligence, with third party experts as required. Our Impact Committee meets in parallel with our Investment Committee and has a veto on investment decisions.

We monitor the performance of each portfolio company on a continuous basis. O14C will agree an Impact Action Plan (the “IAP”) with every company prior to investment, committing them to actions, targets, monitoring and reporting requirements.

Updates to processes

During 2024 and early 2025, our processes were reviewed updated. The key changes included 1) a revised impact screening tool, incorporating natural capital considerations, 2) additional structured questionnaires on ESG and 3) greater formal responsibility for impact for the deal team leads and analysts, with the impact and ESG team taking a more supporting rather than executive function.

These changes have been reflected in a new ESMS (Environmental and Social Management System), which documents O14C’s full impact and ESG approach.

Click to view Ocean 14 Capital Investment Policy

8 May 2025, Bucaramanga, Colombia. S2G Investments (“S2G”), a late-stage venture and growth-stage investor across food & agriculture, oceans and energy, and Ocean 14 Capital Fund I, a private equity impact investment fund focused on the United Nations’ Sustainable Development Goal 14 (SDG 14): Life Below Water, have entered into a joint investment agreement with Enthos Circular Feed Technologies (“Enthos”).

Enthos is pioneering the upcycling of organic waste into high-quality insect-based protein and oils with an approach that lowers the environmental footprint of protein production and delivers scalable solutions to feed a growing global population.

The investment will support Enthos 1, a flagship facility in Colombia set to become one of the largest in Latin America dedicated to using insects to upcycle organic waste into food-grade protein and oil products for the animal and aquaculture feed industry. The conversion process relies on Black Soldier Fly larvae, which rapidly consume food waste and transform it into protein-rich insect meal, valuable oils, and mineral-rich organic fertilizer with minimal environmental impact.

With the world’s population projected to surpass 10.3 billion by mid-2080 and, according to the World Food Programme’s 2025 Global Outlook, food insecurity already impacting 343 million people across 74 countries, the need for scalable, sustainable food solutions is more urgent than ever. At the same time, more than $1 trillion worth of food is wasted each year, with food waste landfills contributing 8% to 10% of total agrifood system emissions, according to the 2024 Food Waste Index Report.

Diverting 1% of global food waste to Black Soldier Fly production could yield an estimated 332,000 metric tonnes of protein annually and one million metric tonnes of organic fertiliser, requiring minimal resources compared to traditional livestock and generating significantly lower greenhouse gas emissions (about 0.017 kg CO₂-eq per kg protein versus 57–500 kg CO₂-eq per kg protein for livestock). By converting waste back into food, Enthos contributes to establishing a circular food economy and more sustainable food production.

“Turning organic waste into high value protein and oils has the triple benefit of sustainably feeding more people, reducing ever-growing organic waste volumes and lowering methane volumes emitted from landfills,” says Andreas Grimminger, Chief Executive Officer and Co-Founder at Enthos, adding, “The Black Soldier Fly larvae are ferocious consumers of food waste and grow over 200 times in a feeding period of 15 days.”

A recent study suggests that some 70% of fishmeal and 73% of fish oil is used in aquaculture to feed farmed fish. “From our point of view, insect meal produced by Enthos is a key alternative to the fishmeal used in aquaculture, with aquafeed remaining one of the largest applications of fishmeal globally,” says Piers Lakin, Principal at Ocean 14 Capital Ltd., adding, “As fishmeal is a limited resource with production volumes subject to environmental fluctuations its use as the sole protein source for fish production is not a sustainable option either economically or environmentally, so we see insect protein as an integral part of a portfolio of alternative proteins that we see reducing the reliance on fishmeal and fish oil.” 

“Enthos stood out to us for its ability to turn waste into a high-value asset that fits seamlessly into global food and feed markets,” said Larsen Mettler, Managing Director at S2G. “With existing demand from aquaculture and livestock producers, we believe they’re demonstrating that insect protein is a commercially viable, climate-aligned solution.”

Global compound feed production is estimated to exceed 1 billion tonnes annually, and the demand for sustainable protein inputs continues to rise. Insect-based feed is emerging as a key solution to replace fishmeal and other high-value protein sources. The global insect protein market size reached a value of $1.01 billion in 2023 and is projected to grow at a CAGR of 16% between 2024 and 2032 to reach a value of $4.09 billion by 2032, driven by the need for sustainable protein sources and environmental concerns.

About Ocean 14 Capital

Ocean 14 Capital Fund 1 SCSp (“Ocean 14 Capital Fund” or the “Fund”) is a €201 million impact fund focused on driving a sustainable and regenerative blue economy. The Fund’s investment adviser, Ocean 14 Capital Ltd, has a team who combine more than 65 years of investment, impact and industry experience. The investment adviser’s team and advisors are considered to be some of the world’s most renowned scientists and marine biologists, and therefore are in a unique position that enables them to access to deal flow and sector knowledge. For more information about Ocean 14 Capital, visit www.ocean14capital.com.

About Enthos Circular Feed Technologies

Enthos Circular Feed Technologies is dedicated to upcycling organic waste into food grade protein and oil products using the larvae of the Black Soldier Fly (BSF), which consumes the waste and is harvested before fully maturing and then processed into animal feed ingredients. With a ready market in the animal feed industry, Enthos 1 will be the first commercial scale plant in Latin America dedicated to using insects to upcycle organic waste into high-quality protein meal, addressing a critical need for sustainable protein sources for mariculture and animal feed. For more information about Enthos, visit www.enthos.co.

About S2G Investments

S2G is a multi-stage investment firm focused on venture and growth-stage businesses across food & agriculture, oceans, and energy. The firm provides capital and value-added resources to companies and leadership teams pursuing market-based solutions designed to deliver greater value, improved outcomes, and enhanced performance over traditional alternatives. With a commitment to creating long-term, measurable outcomes, S2G structures flexible capital solutions that can range from venture funding through growth equity to debt and infrastructure financing. For more information about S2G, visit www.s2ginvestments.com.

03 December 2024, London. Ocean 14 Capital Fund is a private equity impact investment fund focused on the United Nations’ Sustainable Development Goal 14 (SDG 14): Life Below Water, has entered into an investment agreement with KIME Akva, a Norwegian cod farming operation, as a foothold into supplementing wild cod fishing with sustainable farming at a time when cod prices are increasing and quotas are decreasing.

With around a fifth of the global catch, Norway is one of the largest producers and exporters of cod. Cod supplies are facing headwinds with a 20% reduction in cod quotas in the Barents Sea in 2024 to 543,427 tonnes, on top of the 2023 quota reduction of 23%, driving prices higher.

Most Atlantic cod is caught in the Barents Sea by Norwegian and Russian producers, which collectively caught 761,000 MT in 2023, and catches of Atlantic cod fell 42% over the last eight years and is predicted to be down almost 15% from 2023 to 2024. The quotas in Barents Sea are further reduced with 25% in 2025 – 340 000 MT. Norway’s share of the cod quota will be 163,436 tons.

“What started as a side-project to my father’s fishing company, has over time become a real solution to the reduction of wild cod fishing through incrementally decreasing quotas,” says Ørjan Jensen, chief executive officer of KIME Akva, head quartered in Finnsnes. “The back story, which we recount on our website, is interesting, but what has become apparent over time is that with the right processes in place, farming cod in their natural habitat in Northern Norway is not only potentially profitable, but perhaps more importantly a sustainable answer to the global need for fish protein,” Jensen explains.

More than 3.3 billion people around the world get at least 20% of their daily animal protein intake from fish. As the global population continues to rise, it is increasing pressure on this valuable, natural resource. Between 1961 and 2021, the average annual growth rate of global consumption of aquatic animal foods was 3.0%, outpacing the annual population growth rate of 1.6%. Meanwhile, the percentage of stocks fished at biologically unsustainable levels has been increasing since the late 1970s, from 10% in 1974 to 35.4% in 2019.

Since, establishing KIME Akva as a conventional cod farmer in Northern Norway in 2020, the company’s ambition is to become a cost-leading, fully integrated cod farmer by 2025 and by building in-house juvenile production, the venture can assure high quality at lower costs.

The company has invested heavily in license development, and aims to have nine sites by 2029. Currently, KIME Akva has acquired five sites in Northern Norway and has licenses for 12.9k tonnes approved and initiated application processes for roughly 44k tonnes of maximum allowable biomass (MAB). In 2024, KIME Akva completed its first full production cycle and ultimately plans to scale production up to 24k tonnes harvest-weight per year by 2030.

“We are excited to partner with the strong team at Kime to provide a sustainable, high-quality supplement to wild cod, stocks of which are under pressure for a variety of reasons. Through our partnership with KIME, the Ocean 14 Capital Fund gains a foothold in the most efficient operator, with a well-structured team and leadership, in a market that is rapidly intensifying,” says Max Holtzman, Principal at Ocean 14 Capital, the Fund’s adviser.

In addition to supporting KIME Akva’s operational expansion, the Ocean 14 Capital Fund’s investment will also support the firm to develop tools to improve the Forage Fish Dependency Ratios (FFDRs) and Feed Conversion Ratios (FCRs), as well as reducing waste and plastic pollution.

Cod farming requires significant amounts of feed, partly derived from wild fish stocks, while energy required for the various farm operations will contribute to the carbon footprint. The FFDR calculates the quantity of wild (forage) fish used in feeds in relation to the quantity of fed animal production, while the FCR measures the efficiency of feed conversion.

“We are excited to be working with the impact team at the Ocean 14 Capital Fund, as our aim is to lead the development of the sector by working with them to look into/investigate adopting Zero FFDR and test Regenerative Waste production models,” adds KIME Akva’s Jensen.

“The Ocean 14 Capital Fund and KIME are well aligned with driving and improving operational improvements and efficiencies at important intersection of sustainability and finance, each which complements the other,” explains Ocean 14 Capital Fund’s Holtzman.

About Ocean 14 Capital

Ocean 14 Capital Fund 1 SCSp (“Ocean 14 Capital Fund” or the “Fund”) is a €201 million impact fund focused on driving a sustainable and regenerative blue economy. The Fund’s investment adviser, Ocean 14 Capital Ltd, has a team who combine more than 65 years of investment, impact and industry experience. The investment adviser’s team and advisors are considered to be some of the world’s most renowned scientists and marine biologists, and therefore are in a have unique position that enables them to access to deal flow and sector knowledge.

www.ocean14capital.com

About KIME Akva

Since it was formally founded by Ørjan Jensen in 2020, KIME Akva, now a conventional fully integrated cod farming operation in Northern Norway, has secured cod farming licenses; initiated operations at strategic sites; and formed key partnerships to ensure a robust supply chain.  In 2024, KIME Akva completed its first full production cycle. It now has licenses for 12.9k tonnes approved and plans to scale production up to 24k tonnes per year by 2030. It aims to operate in Northern Norway, the natural habitat for wild cod. The company’s management and operations teams, which have more than 20 years’ salmon and cod farming experience with leadership roles at SalMar and Arctic Cod, is backed by a strong and motivated board of directors.

www.kimeakva.no

15 November 2024, London. Ocean 14 Capital Fund, a private equity impact investment fund focused on the United Nations’ Sustainable Development Goal 14 (SDG 14): Life Below Water, has entered into a minority investment agreement with aquaManager to build a software, data and automation platform that will turbocharge the sustainability agenda in the aquaculture industry.

“Together, we are building an innovative ecosystem that will turbocharge sustainability, efficiency, and predictability, setting a new standard for the future of aquaculture,” says Kostas Seferis, founder of aquaManager.

Demand for ‘blue foods’ is expected to double by 2050, from 2015 levels, and aquaculture is expected to play a key role in providing aquatic sourced proteins. Aquaculture will continue to drive growth in global fish production by accounting for 106 million metric tonnes in 2030, a rise of 32% from 2020 levels, according to the UN’s Food and Agriculture Organisation.

From an investment perspective, the global aquaculture market size was valued at $264 billion in 2021 and is expected to reach $401 billion by 2030, growing at a CAGR of 5.37% as the consumption of a protein-rich diet drives increasing spending and adoption of cutting-edge technologies, such as machine learning, the Internet of Things (IoT), artificial intelligence (AI), automatic feeders, and acoustic telemetry tracking systems by aquaculture farm owners. ​

“We have been working with Mr. Seferis and his team for more than two years now. We feel a real privilege and a sense of responsibility that we were able to establish a partnership with the leading aquaculture software company in the Industry. This is one of the most exciting growth plans we have been working on since the fund inception,” says Piers Lakin, Principal at Ocean 14 Capital, and the deal lead.

AquaManager is a technology provider for software, IoT and AI in aquaculture, providing tailored solutions for diverse aquaculture operations, encompassing cage and pond farming, Recirculating Aquaculture Systems (RAS) in the Mediterranean, sub-Saharan Africa, the Middle East and Latin America, and to multiple hatcheries around the world.

Over the past few years, aquaManager has expanded its portfolio to include IoT and smart equipment to complement its software solutions, supporting all stages of fish aquaculture production, from hatchery to harvest, empowering producers globally with the tools and insights essential for sustainable growth.

“Our mission is to ensure that aquaculture can meet the rising demand for quality food in a rapidly growing world. We aim to harness the power of data and technology in a practical and pragmatic way to drive sustainability in the sector and make a positive impact on our planet. We have maintained close communication with Ocean 14 Capital Fund for a long time and are extremely delighted to find that we share the same vision, values and ethics. Together, we’ll shape the future of aquaculture,” continues aquaManager’s Seferis.

“We are exceedingly happy with this partnership and investments. AquaManager is the leading software company that provides the greatest operational value to the global industry. AI is commoditising analytics and making reliable, high-quality data, the new sought-after commodity. With aquaManager, we continue to reinforce and develop our thesis for a comprehensive investment strategy  in data, sensing, analytics and data-driven decision making throughout the blue economy. Data and automation through aquaManager, enables the aquaculture industry to drive convergence faster and adopt sustainable, well-informed management practices,” adds Francisco Saraiva Gomes, founding partner and chief investment officer at Ocean 14 Capital.

About Ocean 14 Capital

Ocean 14 Capital Fund 1 SCSp (“Ocean 14 Capital Fund” or the “Fund”) is a €201 million impact fund focused on driving a sustainable and regenerative blue economy. The Fund’s investment adviser, Ocean 14 Capital Ltd, has a team who combine more than 65 years of investment, impact and industry experience. The investment adviser’s team and advisors are considered to be some of the world’s most renowned scientists and marine biologists, and therefore are in a have unique position that enables them to access to deal flow and sector knowledge.

www.ocean14capital.com

About aquaManager

Complemented by Internet of Things (IoT) technology and smart equipment, aquaManager is a comprehensive software solution supporting all stages of fish aquaculture production, from hatchery to harvest.  The company provides tailored solutions for diverse aquaculture operations, encompassing cage and pond farming, Recirculating Aquaculture Systems (RAS), and hatcheries, serving regions across the Mediterranean, sub-Saharan Africa, the Middle East, and Latin America. Founded by Kostas Seferis, the aquaManager ecosystem has more than 150 clients in more than 50 countries in an industry that is worth $280 billion annually.

www.aqua-manager.com

9 May 2024, London. – Ocean 14 Capital Fund I, focusing exclusively on the multi-trillion-dollar ‘blue economy’, has announced it has closed on €201 million to support its mission of funding sustainable solutions to improve ocean health.

The Ocean 14 Capital Fund is focused on driving a sustainable and regenerative “blue economy” – a sector that uses ocean resources for economic growth and preservation. Following the closing at the end of March, the impact fund has added a host of large institutional investors to its already high-profile list.

The world’s largest food and beverage company Nestlé, HQ Capital and The Green Earth Impact Fund managed by Schroders and BlueOrchard have recently invested in the fund, positioning it as the largest in the blue economy.

Using the United Nations Sustainable Development Goal number 14: Life Below Water as a guiding principle, Ocean 14 Capital Fund invests in entrepreneurs and businesses with big ideas around aquaculture and alternative proteins, reducing plastic waste pollution, protecting ecosystems and marine flora, and ending overfishing.

The Fund aims to act as a tidal surge to supercharge the blue economy, which is expected to be worth $3 trillion by 2030, according to the OECD. At the same time, it will provide jobs to 40 million people (OECD;pg2).

“The world’s oceans have suffered from overfishing, pollution, and climate change, resulting in the dramatic loss of marine habitats. That’s why we are delighted to collaborate with the Ocean 14 Capital Fund I, a visionary partner that is at the forefront of exploring this field. Together, we aim to drive innovation and create positive change by preserving and harnessing the power of the ocean’s resources to ensure a more sustainable future. We recognise the potential within the blue economy and are dedicated to seizing the opportunities it presents,” said Dan Smith, Head of Nestlé Purina’s Global Business Unit.

“We are thrilled to be investors in the Ocean 14 Fund I which marks a key milestone as The Green Earth Impact Fund’s first dedicated investment in the Blue Economy. Green Earth Impact Fund which is jointly managed by BlueOrchard and Schroders aims to create broad based climate impact in areas including ocean and land-based preservation and restoration. We believe this investment has great potential to deliver on our impact goals while also generating attractive financial returns,” said Natalie Wong, Investment Director, Schroders Capital and Daniel Freedman, Senior Portfolio Manager, BlueOrchard.

“Oceans are the critical life-support system for life on earth. The ocean provides half the oxygen we breathe, it absorbs half the carbon, it feeds the world, it employs hundreds of millions of people. If it’s not functioning it will be game over for humanity. Institutions are now awakening to the fact that we need to overhaul the capital market to stand a chance of averting the climate crisis,” said Chris Gorell Barnes, co-founder of Ocean 14 Capital Limited.

“That is why the Ocean 14 Capital Fund was launched, to bring in the necessary capital to transform the blue economy and make it sustainable and regenerative, to protect and restore the oceans health and make sure this vital economy can prosper. It’s a huge testament to the team and their strategy that in this environment, they have obtained investment from like-minded investors who share the desire to make a difference – to help preserve a flourishing ocean, maintain precious marine ecosystems, and protect global food security across the globe. Looking forward, the most sustainable businesses will be the most valuable so this is an exciting investment opportunity encapsulating innovation and technology to create truly transformational businesses,” added Gorell Barnes.

“The fundraising for the Ocean 14 Capital Fund has been a tremendous success, we are grateful for the support of all our investors especially in this current fundraising environment, with the ongoing succession of macro and geopolitical challenges. We are proud of our diverse LP base and appreciative of their conviction in our team and strategy and their trust in us,” added Sheila Gungadin, Head of Investor Relations at Ocean 14 Capital.

-ends-

About Ocean 14 Capital Fund I SCSp

Ocean 14 Capital Fund I SCSp (“Ocean 14 Capital Fund” or the “Fund”) is an impact fund now targeting €200 million and focused on driving a sustainable and regenerative blue economy. The fund’s investment adviser, Ocean 14 Capital Ltd, has a team who combine more than 65 years of investment, impact, and industry experience. The investment adviser’s team and advisers are considered to be some of the world’s most renowned scientists and marine biologists, and it is considered that they have unparalleled access to proprietary deal flow and sector knowledge. www.ocean14capital.com

For further information, please contact:

Tara O’Driscoll, CEO, The Prophets – tara@theprophets.co.uk: +44 7791 091 909

12 April 2024, London. Ocean 14 Capital Fund 1 SCSp (or the “Ocean 14 Capital Fund”), a private equity impact investment fund focused on the United Nations’ Sustainable Development Goal 14 (SDG 14): Life Below Water, and Novelplast (or the “Company”), an Irish mechanical recycler announce today that they have signed an investment deal and have partnered to continue growing Novelplast’s business.

Founded in 2017, Novelplast has developed a unique manufacturing process using in-house expertise to upcycle post-industrial and post-consumer PET/polyester feedstocks into high quality rPET pellets, suitable for supply into the sheet, fibre and strapping industries.

The Company is leading the change in how those feedstock materials can be recycled and repurposed, serving its customers with a competitive recycled product.

“Over the last 5 years we have made huge progress in Novelplast, through expanding our product offering, increasing our sales annually and developing a sustainable company with the flexibility and expertise to continue growing into the future,” said Neil Skeffington, Founder and Chief Executive Officer.

“We are delighted to welcome Ocean 14 Capital Fund 1 as significant investors in Novelplast as we embark on the next phase of our growth journey. As an impact investor, the fund will bring a level of expertise in the sector as well as the capital required to help us achieve our goal of becoming one of the largest recyclers in the world, but more importantly to become one of the most responsible recyclers in the world,” added Skeffington.

“We are pleased to partner with Novelplast as a leading Irish PET recycler with unique manufacturing expertise in repurposing this polymer. Novelplast’s team under the leadership of Neil Skeffington have developed competitive recycled pellets suitable for multiple industries and applications,” said Francisco Saraiva Gomes, Founding Partner and Chief Investment Officer, Ocean 14 Capital.

“We are looking forward to support growth internationally and to enable increasingly efficient usage of resources through an extended life cycle. We believe this will incentivise further collection and recycling of plastic where it could otherwise end up in the environment, in turn fueling the company’s growth,” added Gomes.

Plastic waste is a key issue facing the planet with micro plastics now proven to cause damage to human health and ocean plastic pollution harming marine species and ecosystems. Production of plastics reached a staggering 400.3 million metric tons in 2022, with global plastic recycling rates well below 10%.

The Ocean 14 Capital Fund’s investment in Novelplast is particularly timely considering regulatory and consumer pressures within a global recycled plastics market valued at approximately $50 billion globally in 2022 and expected to growth at a compound annual rate of roughly 7% (from 2022) to 2030, of which PET is projected to reach nearly $24 billion by 2030.

About Ocean 14 Capital

Ocean 14 Capital Fund 1 SCSp (or the “Fund”) is an impact fund with €200 million of raised capital and focused on driving a sustainable and regenerative blue economy through an industrial approach. The Fund’s investment adviser, Ocean 14 Capital Ltd, has a team who combine more than 100+ years of investment, impact and industry experience. The investment adviser’s team and advisers are some of the world’s most renowned scientists and marine biologists, and have unparalleled access to proprietary deal flow and sector knowledge. www.ocean14capital.com

About Novelplast  

Founded in 2017, Novelplast is an Irish PET mechanical recycler that upcycles post-industrial and post-consumer PET post-industrial and post-consumer PET/polyester feedstocks into high quality RPET pellets, suitable for supply into the sheet, fibre and strapping industries. www.novelplast.ie

21 February 2024, London: Ocean 14 Capital Ltd., adviser to the Ocean 14 Capital Fund 1 SCSp (“O14C” or the “Fund”), a private equity impact investment fund focused on the United Nations’ Sustainable Development Goal 14 (SDG 14): Life Below Water, announces today that it has received Certified B Corporation™ (“B Corp™”) certification, joining a growing group of companies reinventing business by pursuing purpose as well as profit and further recognising its commitment to sustainable and regenerative ocean investments.

Ocean 14 Capital has been certified by B Lab, the not-for-profit behind the B Corp™ movement, as having met rigorous social and environmental standards which represent its commitment to goals outside of shareholder profit.

The B Corp™ certification addresses the entirety of a business’ operations and covers five key impact areas of Governance, Workers, Community, Environment and Customers.

The certification process is rigorous, with applicants required to reach a benchmark score of more than 80 while providing evidence of socially and environmentally responsible practices relating to energy supplies, waste and water use, worker compensation, diversity and corporate transparency. The company has legally embedded their commitment to purpose beyond profit in their company articles.

Ocean 14 Capital is now part of a community of 7,000 businesses globally who have certified as B Corps™. The B Corp™ community in the UK, representing a broad cross section of industries and sizes, comprises over 1,500 companies and include well-known brands such as Patagonia, TOMS, Kickstarter, Fairfone, and ecosia.

Recent attention on the blue economy, which is estimated to be worth more than $1.5 trillion per annum globally, provides more than 30 million jobs and supplies a vital source of protein to more than three billion people, makes Ocean 14 Capital’s B Corp™ certification a notable step and signals a shift towards greater accountability and transparency in the sector.

“We are delighted to welcome Ocean 14 Capital to the B Corp™ community. This is a movement of companies who are committed to changing how business operates and believe business really can be a force for good. We know that Ocean 14 Capital is going to be a fantastic addition to the community and will continue driving the conversation forward,” says Chris Turner, Executive Director of B Lab UK.

“We are pleased to have B Corps™ of all shapes and sizes as part of our community – from startups to multinationals and across many different industries. Business is a powerful force and B Corp™ demonstrates that you can do good in any sector. Welcoming Ocean 14 Capital is an exciting moment because they have an opportunity to lead the way within the blue economy impact investing industry. We and the rest of the B Corp™ community are really pleased to support Ocean 14 Capital in paving the way for a new way of doing things,” adds B Lab’s Turner.

“We are delighted to be joining the B Corp™ community, as the first impact investment adviser focused solely on the blue economy. It is a great accreditation for doing the right thing as we strive to measure and be measured by the positive impact we will have,” says George Duffield, founding partner and Chair of Impact at Ocean 14 Capital.

“For the team at Ocean 14 Capital, sourcing investments in the blue economy is about more than making a profit from the ocean. It is about building a sustainable and regenerative ecosystem that supports livelihoods and ocean biodiversity, and enhances the ocean’s role in mitigating climate change,” continues Ocean 14 Capital’s Duffield.

Aion and Bureo, two of the Ocean 14 Capital fund’s initial investments, have been B Corp™ Certified since 2019 and 2015, respectively.

-ends-

About Ocean 14 Capital

Ocean 14 Capital Fund 1 SCSp (“O14C” or the “Fund”) is an impact fund targeting €200 million and focused on driving a sustainable and regenerative blue economy. The Fund’s investment adviser, Ocean 14 Capital Ltd, has a team who combine more than 65 years of investment, impact and industry experience. The investment adviser’s team and advisers are some of the world’s most renowned scientists and marine biologists, and it is considered that they have unparalleled access to proprietary deal flow and sector knowledge.

www.ocean14capital.com

About B Lab UK

B Lab UK is transforming the economy to benefit all people, communities, and the planet. A leader in economic systems change, our global network creates standards, policies, and tools for business, and we certify companies—known as B Corps—who are leading the way. To date, our global community includes over 7,000 B Corps™ in 90 countries and 161 industries, and over 150,000 companies manage their impact with the B Impact Assessment and the SDG Action Manager.

About Certified B Corporations® 

Certified B Corporations®, or B Corps™, are companies verified by B Lab to meet the high standards of social and environmental performance, transparency and accountability.

To learn more and join the movement, visit  www.bcorporation.uk

Important Notice

The fund mentioned within is only available to Professional Investors within the United Kingdom and Retail Investors may not rely on the information within. This is not an offer to sell, or an invitation for an offer to acquire, an interest in the Fund, nor is it an invitation to apply to participate in the Fund. This is not an offering or placement of interests in the Fund in any jurisdiction and should not be construed as such. No information in this document will form the basis of any contract. 

22nd January 2024, London: Ocean 14 Capital Fund 1 SCSp (“O14C” or the “Fund”), a private equity impact investment fund focused on the United Nations’ Sustainable Development Goal 14 (SDG 14): Life Below Water, has entered into an investment agreement with AquaExchange Agritech Private Limited (“AquaExchange”), an aquaculture technology and fintech platform that leverages data analytics to deliver e-commerce, farm automation and market linkage solutions for aquaculture farmers, allowing a significant dial up of sustainability transformation as well as benefits to both customer and seafood farmers.

Under the agreement, the Fund will invest $3 million through the PHT platform, an investment vehicle aimed at delivering technologies to the Shrimp industry to drive sustainability, which will act as the lead investor.

The investment is primarily to provide working capital that will allow AquaExchange, which has already raised $3 million in seed funding in 2021 from investors including Endiya Partners and Accion Venture Lab, to accelerate growth in India and expand its operations to Vietnam and Ecuador, while also further developing its product portfolio.

Founded by Pavan Kosaraju in 2020 and Vijayawada (Andhra Pradesh), AquaExchange, currently automates approx. 34,000 acres of shrimp farming operations in India, equivalent to 12% of the industry.

In 2020, the company launched PowerMon, the world’s first patented power management technology that provides farmers with complete farm power monitoring and aeration control through the convenience of a mobile app; and AquaBot, the shrimp industry’s only moving auto-feeder that has been deployed at scale, allowing driving efficiency in farm feeding operations which represent.

“Pavan and his 20 plus team have managed to take a very significant market share of the Indian shrimp market in just a couple of years, by providing simple but robust technology to farmers that have an immediate impact on production while starting to develop datasets and farm insights that can support farmers access to credit,” says Piers Lakin, Senior Associate of the Fund’s Investment Adviser, Ocean 14 Capital Ltd.

The company operates across the value chain starting with a patented ‘Hardware-as-a-Service’ model on subscription basis that allows for and 24 hours seven days a week remote farm monitoring and automated feeding under the brand name NextAqua, and has expended to become a fintech enabled e-commerce platform that offers high quality inputs at best prices directly from manufacturers.

The third part of the company’s full-stack offering is ‘Harvest-as-a-Service’, a market linkage platform that facilitates harvests at the farm-gate with transparent pricing and assured spot payments to the smallholder farmers.

“AquaExchange is committed to transforming the aquaculture farming process through the use of advanced technology. We plan to refine and scale our unique reinforcement framework, wherein farmers are immediately incentivized for sustainable practices through reduced input costs and higher offtake prices, emphasizing our commitment to sustainable practices in the industry,” says Pavan Kosaraju, Chief Executive Officer, AquaExchange, adding “With this funding round, we aim to equip many more aquaculture farmers with the right technology to reduce costs and increase productivity while enabling global protein sustainability”.

AquaExchange has partnered with various players in the ecosystem such as hatcheries, feed mills, medicine and equipment manufacturers, processing companies, and banks to provide these services. It has also developed innovative solutions such as self-test Vibrio kits, prebiotics, probiotics, and traceability systems in collaboration with other partners such as HiMedia, Karyotica, Imkuraq, and WholeChain.

“All of this has allowed AquaExchange to establish a strong foothold in Indian shrimp aquaculture, providing a solid platform for further expansion and we love the fact there are potential synergies with our first investment SyAqua, which is rapidly growing its presence in India. We are excited about the significant boost to sustainability transformation this technology will allow,” adds Ocean 14 Capital’s Lakin.

-ends-

About Ocean 14 Capital Fund I SCSp

Ocean 14 Capital Fund 1 SCSp (“O14C” or the “Fund”) is an impact fund targeting €200 million and focused on driving a sustainable and regenerative blue economy. The Fund’s investment adviser, Ocean 14 Capital Ltd, has a team who combine more than 65 years of investment, impact and industry experience. The investment adviser’s team and advisers are considered to be some of the world’s most renowned scientists and marine biologists, and it is considered that they have unparalleled access to proprietary deal flow and sector knowledge.

www.ocean14capital.com

About AquaExchange

Founded in 2020, AquaExchange, based in Andra Pradesh, India, is a technology platform that leverages data analytics on shrimp and fish production to reduce crop expenses, manage crop finance, automate procurement and harvest facilitation for aquaculture farmers. It uses patented IoT devices and fintech services to enhance transparency and efficiency and so improve productivity and profitability for the aquaculture ecosystem.

www.aquaexchange.com

1 November, 2023 London: Ocean 14 Capital has announced an investment into Bureo, an innovative company that is on a mission to end fishing net pollution to help protect our oceans by providing fishermen with an end-of-life solution for discarded fishing nets.

These nets, which are collected, cleaned and processed into NetPlus® pellets that are 100% recycled, fully traceable and make for a premium recycled material for nylon fabric and other plastic products, are used by the likes of Toyota Tsusho, Patagonia, Trek, Quiksilver, Brixton, Orvis and more.

Ocean 14 Capital is an impact fund focused on driving a sustainable and regenerative “blue economy” – a sector that uses ocean resources for economic growth and preservation.

Bureo, founded by David Stover, Ben Kneppers and Kevin Ahearn in 2013, received the financial commitment from UK-based Ocean 14 Capital in their Series B raise, led by Toyota Tsusho Corporation, and further supported by like-minded impact investors including Mirova, Susquehanna Foundation and Conservation International Ventures.

This recent fundraise will enable Bureo to expand its facilities and equipment, develop the NetPlus® brand and expand the workforce for the next growth stage, as well as continue to develop solutions to secure the future of our oceans by reducing one of the most harmful forms of ocean pollution – discarded fishing nets.

“Bureo is a model of a purpose-led business generating value by transforming end-of-life plastic waste,” notes investor Chris Gorrell Barnes, founding partner of UK based Ocean 14 Capital. “By scaling up the company’s collection activities, the magnitude of its impact becomes increasingly apparent. By materially reducing the volume of fishing nets that would otherwise find their way into our oceans or be incinerated, Bureo has a pivotal role in global environmental efforts.”

Since launching in 2013, Bureo has scaled its supply of its rHDPE & rNylon under its trademarked NetPlus® brand name from approx. 10 tonnes in 2014, to 1,130 tonnes in 2022 and is expecting over 1,500 tonnes for 2023.

“We are betting that companies and consumers will continue to move away from virgin plastics and instead focus on adopting non-extractive raw materials with lower impact production” says Bureo co-founder David Stover. “We know our work has just begun, and we feel a responsibility to bring our solution for discarded nets and expand positive impacts to more coastal communities around the world.”

Taking action to preserve our oceans was a major talking point at the 2023 World Economic Forum Annual Meeting held in Davos, Switzerland. A dedicated session featuring Peter Thomson, the UN Secretary-General’s Special Envoy for the Ocean and Co-Chair of the World Economic Forum’s community of ocean leaders flagged that a sustainable blue economy represents no less than “the future of human security” and is critical for intergenerational justice.

Using the United Nations Sustainable Development Goal number 14: Life Below Water as a guiding principle, Ocean 14 Capital is searching for entrepreneurs and businesses with big ideas around aquaculture and alternative proteins, reducing plastic waste pollution, protecting ecosystems and marine flora, and ending overfishing.

The €167 million fund’s mission is to supercharge the blue economy, which is expected to be worth $3 trillion by 2030, according to the OECD. At the same time, it will provide jobs to 40 million people.

Ocean 14 Capital Limited is an appointed representative of G10 Capital Limited which is authorised and regulated by the Financial Conduct Authority.

-ends-

About Ocean 14 Capital Fund I SCSp

Ocean 14 Capital Fund I SCSp (“Ocean 14 Capital Fund” or the “Fund”) is an impact fund now targeting €200 million and focused on driving a sustainable and regenerative blue economy. The fund’s investment adviser, Ocean 14 Capital Ltd, has a team who combine more than 65 years of investment, impact, and industry experience. The investment adviser’s team and advisers are considered to be some of the world’s most renowned scientists and marine biologists, and it is considered that they have unparalleled access to proprietary deal flow and sector knowledge. www.ocean14capital.com

MEDIA CONTACTS

Ocean 14 Capital:

Tara O’Driscoll, CEO, The Prophets – tara@theprophets.co.uk / +44 07791 091 909

Bureo:

Jessica Davis, Wilder PR
jessica@wilderpr.com

01 August, 2023 London: The Ocean 14 Capital Fund, which is working to clean up and revitalise the world’s oceans, has received a €20 million investment from institutional corporate investor, Convex Group Limited (“Convex”), taking it past its €150 million funding goal. The Luxembourg-based fund, which also received €10 million from family offices and HNWs, now aims to reach €200 million by the end of 2023.

The investment from Convex means that the Ocean 14 Capital Fund has now raised €160 million from investors including Monaco’s sovereign wealth fund, European Investment Fund (EIF), and Niklas Zennström, the founder of Skype and €30 million from the investment arm of Ingka Group.

Chris Gorell Barnes, co-founder of Ocean 14 Capital, believes the Fund is well on track to grow its portfolio to between 20 and 25 businesses within three years, having invested in five companies to date, including SyAqua, a shrimp-breeding technology specialist, and AION, a plastics management platform based in Norway.

The Ocean 14 Capital Fund has also committed €10 million to Brazil-based Tilabras, a leading producer of tilapia, one of the world’s most sustainable sources of animal protein. More recently, the Fund announced an investment of €11 million in land-based Dutch yellowtail producer The Kingfish Company.

Most recently, the Ocean 14 Capital Fund has signed an investment of up to €10 million in Ava Ocean, a Norwegian technology and seafood company which is on a mission to change the way we harvest seafood from the seabed, whilst protecting fragile ocean habitats and invaluable carbon sinks.

Dredging is the most widely used method to harvest bottom dwelling seafoods globally, but this way of fishing takes a significant toll on the seabed and surrounding ecosystems and is increasingly facing criticism from environmental campaigners and ocean conservationists.

In Norway, dredging has been banned for nearly 30 years, preserving ocean habitats, but leaving vast nutritious resources out of reach.

Ava Ocean has developed a unique, non-invasive harvesting gear for bottom-dwelling seafood such as scallops and sea cucumber without disturbing marine ecosystems. The technology combines an advanced water-flow system with AI and camera technology to precision-pick target seafood. Smaller sized specimens or bycatch are returned to the seabed undamaged.

After extensive trials together with the Norwegian Institute for Marine Research, the Norwegian government granted Ava Ocean the first licence to harvest Arctic Scallops in the Barents Sea in more than three decades.

Norselab, an Oslo-based investment manager focusing on impact through industrial transformation, has taken Ava Ocean through the critical phase of commercialising its research and technology, proving that the solution is fully operational and profitable. Today, based on a single quota of arctic scallops, the company makes solid positive margins with its harvesting method.

With the injection of capital from the Ocean14 Capital Fund, Ava Ocean will embark on an ambitious international growth plan, accelerating their mission to lead a global shift towards more sustainable fisheries of bottom-dwelling seafoods.

Gorell Barnes commented: “The fact that the Fund has surpassed its initial goal of €150 million shows how important this issue has become to so many people globally and how highly the Fund is thought of.

“We believe that the Fund’s strategic investment in Ava Ocean is significant. The global export market for scallops is worth an estimated $2.5 billion, but most of the scallop fishing industry uses dredging methods which have a devastating effect on seabed ecosystems and biodiversity. The technology developed by Ava Ocean can be rolled out on a global scale and could put an end to harmful seabed practice forever.

“Over the next few years, the Fund aims to invest in many more companies that are all playing a part in saving the oceans. We want the blue economy to become mainstream as ocean health has a direct positive impact for consumers and commerce globally. The Fund is now aiming for investment of €200 million and as its advisers, we are confident that target will be met in the coming months”.

Benji Meuli, Chief Investment Officer, Convex, said: “The insurance industry can play a tangible role in the future of our planet and Convex sees investing in a sustainable blue economy as vital in our fight against the climate crisis. Ocean 14 Capital Fund’s commitment to strategically supporting businesses and initiatives will drive the kind of change that will bring about a brighter, cleaner future for our oceans and the communities they sustain”.

Øystein Tvedt, CEO, Ava Ocean, said: “With the Ocean14 Capital Fund onboard, we can embark on the next chapter in Ava Ocean’s journey to reinvent seabed harvesting. The global potential for our solution is immense, and we are excited to be able to explore international opportunities with the support of the Ocean14 Capital Fund. They share our unwavering belief in bringing about real change through innovation and collaboration, and with their expertise in the global blue economy bring invaluable know-how ahead of this next phase for Ava Ocean. With the support of the Ocean 14 Capital Fund, along with our existing investors, we are well-positioned to scale our operations for international growth and to further develop our innovative solution.

Maria de Perlinghi, Partner and Chief Impact Officer at Norselab, added: “Ava Ocean offers a commercially scalable solution to multiple stressors the ocean is subject to, which has far-reaching consequences for our climate, biodiversity, human health, and livelihoods. It’s a real alternative to the destructive catching practices currently deployed in most countries globally. We believe Ava Ocean can generate system-level impact in the seafood industry”.

Francisco Saraiva Gomes, Founding Partner and CIO, concluded: “We are thrilled with our first investment in fisheries. Ava shows the path for sustainable industrial fisheries, where technology enables, and business model captures, the convergence between both impact and financial gains. Our ocean needs us to eliminate predatory fishing activities quickly. Companies like Ava are the economically efficient answer how precision fisheries will enable the ban of bottom trawling”.

The Ocean 14 Capital Fund aims to act as a tidal surge to supercharge the blue economy, a sector using ocean resources for economic growth and preservation, which is expected to be worth $3 trillion by 2030, according to the OECD.

Ocean 14 Capital Limited is an appointed representative of G10 Capital Limited which is authorised and regulated by the Financial Conduct Authority.

-ends-

Notes to editors

About Ocean 14 Capital Fund I SCSp

Ocean 14 Capital Fund I SCSp (“Ocean 14 Capital Fund” or the “Fund”) is an impact fund now targeting €200 million and focused on driving a sustainable and regenerative blue economy. The fund’s investment adviser, Ocean 14 Capital Ltd, has a team who combine more than 65 years of investment, impact, and industry experience. The investment adviser’s team and advisers are considered to be some of the world’s most renowned scientists and marine biologists, and it is considered that they have unparalleled access to proprietary deal flow and sector knowledge.

For more information www.ocean14capital.com and follow us on Linked In

About Convex

Convex Group is an international specialty insurer and reinsurer focused on complex specialty risks across a diverse range of business lines. The company brings together best in class talent, a diversity of thought and the freedom and independence of a strong balance sheet to create a fresh approach to business.

The Group’s ambition is to offer something different to its clients and to engage with them in a true partnership based on fairness, dignity and respect.

Convex was founded by Stephen Catlin and Paul Brand and operates out of London, Bermuda, Luxembourg and New Jersey. The company has an “A“(Excellent) A.M. Best rating and an “A-“ with stable outlook S&P rating.

About Ava Ocean

Ava Ocean is an ocean technology and seafood company pioneering new ways of harvesting the abundant seafood resources on the seabed, in a gentle, yet effective manner.

Ava Ocean has developed a revolutionary technology for non-invasive, precision seabed harvesting that not only preserves, but can also help to restore fragile and often overlooked ecosystems on the bottom of the sea.

The company’s first fishing vessel, the Arctic Pearl, is the world’s first with this technology onboard. Thanks to the harvesters’ documented low impact, in December 2022 the Arctic Pearl was able to reopen the fishery of Arctic scallops in the Barents Sea after 30 years of closure.

Ava Ocean, previously operating under the name of TAU Tech, was established in 2016 and is based in Aalesund, Norway.

For more information, visit us on www.avaocean.no or LinkedIn.

Ingka Investments is the investment arm of Ingka Group which represents the largest IKEA retailer, to support its mission of funding sustainable solutions to improve ocean health.

It marks the first time Ingka Investments has invested in the ‘blue economy’ – a sector using ocean resources for economic growth and preservation.

Following the Principality of Monaco’s €10 million commitment from the sovereign wealth fund in September 2022, Ocean 14 Capital has now raised €130 million since launching its growth-stage impact fund in November 2021.

With this backing, the purpose-led €150 million impact fund believes it is well on track to grow its portfolio to between 20-25 businesses within three years, having invested in four companies to date.

Ocean action was a major talking point at the World Economic Forum Annual Meeting 2023 held in January in Davos, Switzerland.

A dedicated session on Ocean 20: Building a Sustainable Blue Economy featured Peter Thomson, the UN Secretary-General’s Special Envoy for the Ocean and Co-Chair of the World Economic Forum’s community of ocean leaders, Friends of Ocean Action, flag that a sustainable blue economy represents no less than “the future of human security” and is critical for intergenerational justice – as he urged leaders to seize the critical opportunities for Ocean Action in 2023.

Using the United Nations Sustainable Development Goal number 14: Life Below Water as a guiding principle, Ocean 14 Capital is searching for entrepreneurs and businesses with big ideas around aquaculture and alternative proteins, reducing plastic waste pollution, protecting ecosystems and marine flora, and ending overfishing.

The fund’s mission is to supercharge the blue economy, which is expected to be worth $3 trillion by 2030, according to the OECD. At the same time, it will provide jobs to 40 million people (OECD;pg2).

Chris Gorell Barnes, co-founder of Ocean 14 Capital, said:

“It is a real testament to the quality of our fund and intention that Ingka Investments has come on board in such a significant capacity. “If there’s no ocean, there’s no us – it connects us all. It provides food security and plays a vital role in achieving the UN sustainability agenda. “Davos 2023 radically shifted the dial on the conversation this year. There is a powerful undercurrent of momentum emerging as people are increasingly waking up to the fact that ocean’s health is the engine to economic growth – and critical to national and global development. “Is this the most important investment thesis of our time? We fervently believe yes. Without a healthy marine eco-system there is zero chance of humanity surviving. “I’d like to think we are at the tipping point of where the blue economy becomes mainstream. In less than two years we have backed four ground-breaking growth-stage companies, doing extraordinary work. So for Ingka Investments to recognize this just spurs us on further. “Tackling climate change and food security is vital for retailers – ocean health has a direct positive impact for consumers and commerce”.

Ingka Investments, one of the three core businesses of Ingka Group, the largest owner and operator of IKEA Retail.

Head of Financial Market Investments at Ingka Investments, Samuel Rundle said:

“Ingka Group is guided by the IKEA vision to create a better everyday life for the many. As a purpose-led company, we aim to invest with impact, delivering positive returns for communities and the environment for generations to come. 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.”

First launched in November of 2021, the Ocean 14 Capital fund will focus primarily on investing in growth-stage businesses. It 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.

The Ocean 14 Capital Fund completed an €80 million first close in November 2021, with backers including the European Investment Fund (EIF), Chr. Augustinus Fabrikker, Builders Vision, Minderoo Foundation, British businessman Alex Beard and Swedish entrepreneur Niklas Zennström.

• Farming Tilapia, the affordable whitefish, where the fish can sustain vegan diets, is one of the most environmentally friendly ways of creating protein to feed the global population
• Brazilian producer Tilabras responsibly farms Tilapia, offering a low impact alternative to other forms of wild caught marine white fish
• The Ocean 14 fund’s investment aims to capitalise on the unique opportunities around Tilapia as a growth market as part of its ongoing mission to find sustainable solutions to improve the health of our ocean

The Ocean 14 Capital fund has today announced an investment of over €10 million in Tilabras, a leading producer of Sustainable Tilapia, in Brazil. Tilapia is thought to be one of the world’s most sustainable sources of animal protein.

Tilapia aquaculture is six times more efficient at converting plant-based feed into animal proteins than cattle farming. Tilapia is also more affordable than other commonly farmed fish, such as salmon, making it an extremely viable protein source for the growing global population.

A family owned company, Tilabras has developed a planet friendly model for farming Tilapia by focusing on its local impact and sustainable feeds. Globally, millions of tonnes of fish are caught in the wild every year to produce fishmeal and fish oil, to feed fish in aquafarms. Tilabras location and production model, allows the fish to be fed on a fully sustainable, vegan diet, while minimising the CO2 footprint.

“Our partnership with Tilabras continues Ocean 14 Capital’s direct focus on the intersection of sustainability and finance, creating impactful, industrial platforms enabling measured, sustainable growth of one of the most efficient forms of protein production on the planet. Ocean 14 Capital is proud to partner with a group that is aligned with our convergent approach to both financial and natural capital” said Francisco Saraiva Gomes, founding partner and chief investment officer at Ocean 14 Capital.

“The funds capital will be used to expand Tilabras’ farming base, increasing capacity and efficiency of production, as well as continuing the vertical integration of the group to a new processing plant and hatchery. Tilapia farmed inland in high carrying capacity man-made sites is the most sustainable alternative to whitefish caught from the ocean. The fund’s investment in Tilabras, supports the Company’s vision to become the lowest “natural-cost”, at-scale producer, of white fish in the world” Saraiva Gomes continues.

Nicolas Landolt, founder, Tilabras said “Ocean 14 Capital’s expertise, knowledge, and the fund’s ability to execute will help us enhance growth while improving resource efficiency. The period ahead of us is one of great expansion and development and we must do so with an ever-stronger commitment to sustainability. We are looking forward to building our hatchery and breeding operations, as well as the expansion of our farming and processing plants”

Chris Gorell Barnes, founding partner of Ocean 14 Capital, said: “Life on earth depends on functioning oceans – they are the lifeblood of our planet. As the global population continues to grow, demand for animal protein will continue to increase.

“Wild fish catches have been stagnant for nearly twenty years, despite huge growth in fishing efforts and technology. So the only way demand for fish can be met without stripping the seas is to scale sustainable aquaculture production methods.

“Our partnership with Tilabras focuses on enabling this transition to large scale, low impact fish farming, harnessing the best of modern technology. Tilapia is set to grow to a $9.2 billion industry by 2027 – it really is the future in terms of how we can feed the world.”

First launched in December of 2021, the Ocean 14 Capital impact investment fund has already made three investments this year.

SyAqua, a shrimp breeding technology specialist was among the first beneficiaries of the fund along with AION, a Norwegian plastic management platform that uses proprietary technology to offer ‘Circularity As A Service’ to large-scale industries, and MITO, a clam hatchery and breeding Italian company.

The Ocean 14 Capital fund focuses primarily on investing in growth-stage businesses. It 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.

This month, the Ocean 14 Capital fund received a commitment for €10 million from the Constitutional Reserve Fund of Monaco to support its mission of funding sustainable solutions to improve ocean health.

With this backing from the sovereign wealth fund, the Ocean 14 Capital €150 million impact fund is on track to invest in 8 companies this year, and to grow its portfolio to between 20 and 25 businesses within three years.

Following the Principality of Monaco’s €10 million commitment the private equity firm has now raised €100 million for the fund since inception.

07 September, 2022 LONDON: Ocean 14 Capital, a private equity company focusing exclusively on the multi-trillion-dollar ‘blue economy’, has received a commitment for €10 million from the Constitutional Reserve Fund of Monaco to support its mission of funding sustainable solutions to improve ocean health.

With this backing, Ocean 14 Capital is on track to invest in 8 companies this year, and to grow its portfolio to between 20 and 25 businesses within three years.

Following the Principality of Monaco’s €10 million commitment from the sovereign wealth fund, the private equity firm has now raised €100 million since launching its growth-stage impact fund in December 2021.

Using the United Nations Sustainable Development Goal number 14: Life Below Water as a guiding principle, Ocean 14 Capital is searching for entrepreneurs and businesses with big ideas around aquaculture and alternative proteins, reducing plastic waste pollution, protecting ecosystems and marine flora, and ending overfishing.

The fund aims to act as a tidal surge to supercharge the blue economy, a sector using ocean resources for economic growth and preservation, which is expected to be worth $3 trillion by 2030, according to the OECD. At the same time, it will provide jobs to 40 million people (OECD;pg2).

Chris Gorell Barnes, co-founding partner of Ocean 14 Capital, said: “Oceans are the critical life-support system for life on earth. If we are to save the planet, there is clear evidence that if we don’t have a healthy & functioning ocean, we have zero chance. The ocean provides half the oxygen we breathe, it absorbs half the carbon, it feeds the world, it employs hundreds of millions of people. If it’s not functioning, it will be game over for humanity.

Philanthropy is doing a solid job, but institutions are realising that we need to overhaul the capital market to really stand a chance of averting the climate crisis.

That’s why we launched Ocean 14 Capital to bring in the necessary capital to transform the blue economy and make it sustainable and regenerative, so that we can protect and restore the oceans health and make sure this vital economy can prosper.”

H.S.H. Prince Albert II of Monaco has a long history of supporting ocean conservation. His Foundation has invested over €90 million during the past 15 years to fund more than 700 projects, in a bid to promote ocean health and limit the effects of climate change.

Jean CASTELLINI, Minister of Finance and Economy of Monaco, said : “I believe that 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.”

First launched in December of 2021, Ocean 14 Capital has already made three investments this year.

A key source of protein to feed the globe, shrimp breeding technology specialist SyAqua is among the first beneficiaries of the fund.

Through cutting-edge genetics and nutrition methods, the business plans to transform archaic farming practices, making it more efficient, technology-enabled, circular and regenerative.

AION, a plastic management platform, has also received investment. The Norwegian business uses proprietary technology to offer ‘Circularity As A Service’ to large-scale industries, ensuring the plastic we already have is kept in use for as long as possible.

Ocean 14 Capital will focus primarily on investing in growth-stage businesses. It 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.

Chris Gorell Barnes added: “We have the science, the network, the understanding of marine conservations; we’ve got experience of building multibillion dollar asset management businesses, and we’ve got industry know-how, in terms of investing in and executing within the industry.

We’re at a pivotal point in finance, and I think it’s going to be as revolutionary as the technology shift we’ve had in the last 20 years.

We’ll see how impact investing becomes totally transformational in terms of how capital is deployed, there will be a lot of new regulations coming in, driving institutional capital to invest in vehicles that are having a positive and measurable impact on the environment and society.”

Ocean 14 Capital previously completed a €80 million first close in December 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.