Ocean 14 Capital plans that about two-thirds of the funds be used to invest into companies in Europe, and one third will go to the rest of the world.
Ingka Investments, the retailer IKEA’s financial arm, has moved for the first time into the “blue economy” by investing EUR 30 million in the Ocean 14 Capital fund, according to an Ingka press release. Headquartered in London, Ocean 14 Capital launched its fund in November 2021; it is now a EUR 150 million impact fund focused on driving a sustainable and regenerative blue economy. Using the UN Sustainable Development Goal №14, Live Below Water, as its guiding principle, the fund attracts investors such as the European Investment Fund, the Principality of Monaco, Ingka Investments, and others with its commitment to support entrepreneurs and businesses with ideas for aquaculture and alternative proteins, reducing plastic waste pollution, protecting ecosystems and marine flora, and ending overfishing. IKEA’s corporate mission of “creating a better everyday life” – in this case by improving ocean health – is furthered by its investment in the fund. “Our aim is to invest with impact, delivering positive returns for communities and the environment for generations to come,” said Samuel Rundle, Head of Financial Market Investments at Ingka Investments.