SWEN Capital Partners, a provider of unlisted sustainable investment solutions, has raised a further €43 million from institutional investors globally for its Blue Ocean fund in its latest funding round. The fund now stands at €95 million.
Launched less than six months ago, the fund seems to be on track to reach its goal of €120 million this year.
BPI, the French Sovereign Investment fund and Ifremer, the National Institute for Ocean Science, are among the latest investors to back the Blue Ocean strategy.
They join several institutional investors, including pension funds, insurance companies, banks and family offices across Europe and the US.
The fund will deploy €120 million across 20 to 25 innovative start-ups companies dedicated to sustainable aquaculture, ocean data, plant and cell-based seafood, alternatives to single-use plastic, renewable marine energies and decarbonization of maritime transport.
The Blue Ocean fund has been classified as Article 9 compliant under the EU Sustainable Finance Disclosure Regulation. Its investments align with the United Nations Sustainable Development Goal 14 and comply with EU taxonomy criteria.
Jérôme Delmas, chief executive of SWEN Capital Partners said:"In order to make progress, a sustainable blue economy is critical. Healthy oceans will provide us with food, oxygen, transportation, recreation, and climate regulation. Our Blue Ocean fund is at the heart of this dynamic and contributes to addressing these crucial issues for the planet."
François Houllier, chairman and chief executive of Ifremer, said: "Faced with the threats generated by human activity, Ifremer is convinced that research and innovation are key to ensuring the protection of the ocean. It is with this in mind that we wanted to strengthen our commitment by investing in the Blue Ocean fund."
Christian Lim, managing director of the SWEN Blue Ocean team, added: "We believe ocean impact investing is on a path to becoming mainstream, and we remain committed to playing our part in this evolution by providing an innovative platform to international institutional investors. Private capital has an essential role to play in driving both systemic impact and competitive market returns at scale."
