Investment firm SWEN Capital Partners declares successful initial €160 million round for their second ocean-focused investment fund.
In a significant move towards protecting the world's oceans, SWEN Capital Partners has announced the first close of its Blue Ocean 2 fund, aiming to raise a total of €300m. The fund, which has already secured €160m, will invest in startups working to support ocean biodiversity and tackle threats such as overfishing, pollution, and climate change.
The announcement was made during the United Nations Ocean Conference (UNOC) in Nice, with Christian Lim, co-managing director of SWEN Blue Ocean, expressing excitement about continuing to pioneer the next frontier of climate and biodiversity investment. Jérôme Delmas, CEO of SWEN Capital Partners, stated that the firm's investment strategy embodies the mission of putting investment at the service of nature.
One of the successful investments made by the fund is the Norwegian aquatech company OptoScale. This innovative company has preserved more than 3,000 tons of biomass through reduced demand for fishmeal from wild-caught fish between 2021 and 2024. The technology used by OptoScale and other startups in SWEN Blue Ocean's portfolio has helped avoid more than 10,000 tons of GHG emissions.
The fund's scope to invest outside of Europe has increased, with 30% of the fund's capital now able to be deployed globally. SWEN Capital Partners plans to invest in solutions for ocean biodiversity regeneration outside of Europe, where the firm has identified a significant need.
The fund has drawn investments from pension funds, insurance companies, banks, and family offices. The European Investment Fund (EIF), France 2030, Bpifrance, Macif, Abeille Assurances, Matmut, Suravenir, Mutuelle de Poitiers, and Conseil de la Protection Sociale des Travailleurs Indépendants (CPSTI) are current backers of the fund.
SWEN's inaugural Blue Ocean fund raised €170m previously. The fund targets building a portfolio of 20 to 25 startups, with its first investment already made, although details are pending release. SWEN Capital Partners' focus on ocean health aligns with broader efforts to address gaps in ocean management and funding for sustainable blue economy initiatives.
Lim emphasized the importance of the startup ecosystem in providing innovative solutions to transform industries at scale and pace for ocean protection. Delmas emphasized the firm's responsibility as investors to support high-impact projects with strong transformative potential for marine biodiversity regeneration. The technology has lowered feed use and reduced sea lice treatments, as well as prevented feed waste from polluting the seabed.
As of the latest available information, SWEN Blue Ocean 2 has not publicly disclosed specific startups or investments focused on regenerating ocean biodiversity or addressing threats like overfishing, pollution, and climate change. However, the fund is designed to support the regeneration of ocean biodiversity and has secured backing from prominent investors. Further announcements from the company are awaited for specific details on startups funded by SWEN Blue Ocean 2.
- SWEN Capital Partners' investment strategy, as shared by Jérôme Delmas, embodies the mission of putting investment at the service of nature, specifically focusing on financial inclusion in the environmental-science sector, with a aim to regenerate ocean biodiversity and combat threats such as overfishing, pollution, and climate change.
- In a bid to expand its investment horizon, 30% of the capital in SWEN Blue Ocean 2's fund can now be deployed globally, with a particular focus on areas outside Europe where there is a significant need for solutions that address ocean biodiversity regeneration.
- Blended finance plays a crucial role in SWEN Capital Partners' operations, as evidenced by the investments drawn from a variety of sources including pension funds, insurance companies, banks, and family offices, collectively working towards mitigating the impacts of climate change and preserving biodiversity.
- Recognizing the critical role of startups in providing innovative solutions at scale, Christian Lim, co-managing director of SWEN Blue Ocean, emphasized the importance of the startup ecosystem in transforming industries and tackling complex ocean-related challenges, particularly in areas of reducing pollution, optimizing resources, and promoting sustainable agriculture practices.
