Constitutional Reserve Fund of Monaco Pours Capital into Water-Focused Impact Fund

By David G. Barry

The Constitutional Reserve Fund of Monaco is taking the plunge with a water-focused investment firm.

Monaco’s sovereign wealth fund is committing €10 million (US$10 million) to Ocean 14 Capital’s impact fund, which has a €150 million (US$150 million) target. Ocean Capital has to date raised €100 million (US$100 million) since launching the growth-stage impact fund in December. Other investors in the fund include the European Investment Fund (EIF), Chr. Augustinus Fabrikker, Builders Vision, Minderoo Foundation, Alex Beard, and Niklas Zennström.

The Constitutional Reserve Fund of Monaco’s mission is to fund sustainable solutions to improve ocean health. According to the Sovereign Wealth Fund Institute, the fund has assets of $7.5 billion.

Focused on the so-called “blue economy,” Ocean 14 was formed by the founders of Vedra Partners Ltd., Pontus Aqua Ltd., and Blue Marine Foundation. The impact fund is on track to invest in eight companies this year and 20 to 25 within three years.

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.