Specialty re/insurer, Convex Group, has invested €20m in the Ocean 14 Capital Fund, which is working to clean up and revitalise the world’s oceans.

The Luxemboug-based fund has now raised €160m from investors.

Chris Gorell Barnes, co-founder of Ocean 14 Capital, believes the fund 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 fact that the fund has surpassed its initial goal of €150m shows how important this issue has become to so many people globally and how highly the Fund is thought of.

“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 €200m and as its advisers, we are confident that target will be met in the coming months”.

Benji Meuli, chief investment officer, Convex, added: "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."


Image courtesy Sea Shepherd

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