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.

The European Investment Fund (EIF), Chr. Augustinus Fabrikker, Builders Initiative and Minderoo Foundation have approved commitments to become cornerstone investors in Ocean 14 Capital’s inaugural fund, the first large investment fund to focus exclusively on the blue economy.

EIF has approved a commitment of €35 million to the fund, while Chr. Augustinus Fabrikker is allocating €15 million. Builders Initiative and Minderoo Foundation will commit €10 million together, bringing the total to €60 million.

The fund is a unique combination of marine industry and nature conservation knowledge that comes from Ocean 14 Capital, a private equity firm focused on the United Nations’ Sustainable Development Goal 14 (SDG14), which aims to conserve and sustainably use the oceans, seas and marine resources for sustainable development.

The Ocean 14 Capital Fund will target investments in growth-stage technologies and companies promoting sustainable fishing, aquaculture and alternative proteins as well as ocean conservation and health including marine flora and plastic waste solutions.

The EIF investment is guaranteed by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe. It also falls under BlueInvest, a European Commission initiative created in 2020 and supported by the EIF.

BlueInvest is an endorsement of the importance of the global blue economy, which according to OECD predictions will grow from $1.5 trillion in 2016 to $3 trillion by 2030 and will provide 200 million jobs.

To read the full Press Release, click here.