Venture firms Katapult and OCTAVE Capital join forces to establish $75 million Asia-focused ocean fund.
In a groundbreaking move, Norwegian impact investor Katapult and Singapore-based impact investment firm OCTAVE Capital have joined forces to launch the Asia Ocean Fund, a $75 million initiative aimed at driving systemic impact in Asia's blue economy.
The Asia Ocean Fund will target both Asian investors and global investors interested in gaining exposure to Asia's vast and crucial ocean sector. This sector, unparalleled in scale and importance, produces most of the world's seafood, manages over two-thirds of global maritime trade, and supports millions of livelihoods.
The fund's strategy prioritises mission-driven solutions to address urgent climate and sustainability risks in the Asia Pacific region. It focuses on four key areas: food security, decarbonisation, resilience, and the global transition to a new blue economy.
The Asia Ocean Fund will allocate 25% of capital raised to seed stage companies, aiming for around 20 investments over five years, with average ticket sizes ranging between $150,000 and $500,000. The remaining 75% of investments will be aimed at series A and series B companies, with investments ranging from $1.5 to $4 million.
The fund will invest in early-stage and growth companies in sectors such as maritime decarbonisation and sustainable aquaculture. Six themes will guide the fund's investments: maritime decarbonisation, ocean renewable energy, green shipping infrastructure, ocean biodiversity and restoration solutions, circular resources, and sustainable aquaculture and marine biotechnology.
Tsao Pao Chee, led by the Tsao family, who also hold a partial stake in the Asia Ocean Fund, is part of OCTAVE Capital. This purpose-led family business, with several subsidiaries, has significant impact investment as well as maritime expertise.
Katapult, which already manages four ocean-focused impact funds, including the $50m Katapult Ocean Deep Blue Fund, will co-manage the Asia Ocean Fund. The partnership marks Katapult's past coinvestments with Tsao Pao Chee and its subsidiaries.
The Asia Ocean Fund aims to help close the $5.5 trillion financing gap in the Asia Pacific needed to meet SDG14: Life Below Water targets by 2030. It is the first ocean fund aimed at driving systemic impact in Asia, a region that urgently needs solutions to address climate and sustainability risks in its ocean sector.
The Asia Ocean Fund will aim to hold around 60 investments when fully invested. With this partnership, Katapult and OCTAVE Capital are poised to make a significant impact on Asia's blue economy, promoting sustainable growth and addressing critical climate and sustainability challenges.
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