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BLUE ECONOMY AND BLUE FINANCE | 41

BOOSTING SOLUTIONS NEW ECOSYSTEM INVESTMENT

Overexploitation of ocean resources, chemical and Minna Epps, Director of IUCN's Ocean Team, welco-
plastic pollution, habitat destruction and the effects of mes the creation of the ReOcean Fund, "a promising
climate change... While the ocean's health is deterio- lever for unlocking the potential of the blue economy.
rating, blue and regenerative solutions are emerging, It's currently the fastest-growing sector, so we need
yet they often remain underdeveloped. How can we to take advantage of it and make sure we do so in a
consolidate, accelerate, and boost the development sustainable manner."
of these innovations? The Principality's chosen res-
ponse is to increase investment in growing compa- Anthony Torriani, founder and managing director of
nies that can make a real impact on the resilience Monaco Asset Management, which co-manages the
of the ocean and the conservation (or restoration) of fund, talks about "the opportunity to fill a financial gap
ecosystem functions that are essential to life on ear- in the market", before going on to explain the blue
th and to our societies. "Philanthropy plays a crucial investment window: "There is already a very active
role in bridging the gap between the public and pri- investment ecosystem in the venture capital and seed
vate sectors. But philanthropy alone is not enough to capital sectors. However, we believe there is a real
tackle the vast, daunting, and complex challenges fa- need for capital to support more established compa-
cing the ocean," said Olivier Wenden, Vice-President nies entering their growth phase."
and CEO of the Prince Albert II of Monaco Founda-
tion, at the launch conference. The creation of the This global fund is designed to reinforce The Prince
ReOcean Fund is a continuation of the work that the Albert II of Monaco Foundation's mission to support
Prince Albert II of Monaco Foundation has been doing effective solutions for the planet's biodiversity, cli-
for many years to promote the most innovative com- mate, ocean, and water resources. The fund will be
panies that have an impact on safeguarding aquatic able to build on the Foundation's successful ocean
life. The positive changes in regulations, the shift in initiatives and attract new partners and funding, parti-
consumer dynamics and the strong growth seen in cularly from the private sector.
certain sectors of the sustainable blue economy are
all reasons to invest in the growth of these compa-
nies". A great selection of these was presented at the
Ocean Innovators Platform (see p48). FIVE SECTORS TO UNLOCK THE OCEAN'S
REGENERATIVE POTENTIAL
■ solutions to plastic pollution,
DESIGNING A BLUE FUTURE
■ Blue Food: healthy, equitable, and sustainable,
Investment in the sustainable ocean economy has
been largely underdeveloped in the past, but shifts ■ green shipping and sustainable yachting,
in economic, political and consumer dynamics are
changing this and making the ocean an asset that ■ restoration and protection of marine ecosystems,
provides an investment opportunity. Therefore, the ■ ocean data and knowledge.
two Monegasque entities, with their combined exper-
tise in ocean conservation and finance, have decided
to join forces and co-manage the ReOcean Fund,
which aims to support the growth of innovative, high
impact, established companies that seek to have a
positive impact on the aquatic environment.