SWEN Capital Partners Secures €160M for Blue Economy Fund

Key Takeaways

Sector: Industrials.
Geography: France.

Analysis

SWEN Capital Partners, a leader in responsible investment, has announced the first close of its SWEN Blue Ocean 2 fund, securing €160 million towards its €300 million target. This fund is set to become the world's largest venture capital fund dedicated to ocean biodiversity regeneration.

SWEN Blue Ocean 2 aims to invest in innovative startups addressing three critical threats to ocean health: overfishing, pollution, and climate change. The fund is classified as an Article 9 fund under the European Union’s Sustainable Finance Disclosure Regulation, emphasizing its commitment to sustainable investments.

The fund has attracted significant global interest, with 53% of its target already raised. Notable investors include institutional entities such as EIF (European Investment Fund), France 2030, Bpifrance, Macif, Abeille Assurances, Matmut, Suravenir, Mutuelle de Poitiers, and CPSTI (Conseil de la Protection Sociale des Travailleurs Indépendants).

Jérôme Delmas, CEO of SWEN Capital Partners, stated, “The SWEN Blue Ocean strategy fully embodies our mission: putting investment at the service of nature. We are aware of our responsibility as investors and the role we can play by supporting high-impact projects with transformative potential.”

Christian Lim, Co-Managing Director of SWEN Blue Ocean, added, “Our fund strategy remains more relevant than ever. Ocean action is gaining importance globally, with international communities, governments, and companies prioritizing ocean protection. Startups play a crucial role in providing innovative solutions to transform massive industries at scale.”

Olivier Raybaud, Co-Managing Director of SWEN Blue Ocean, emphasized, “Our strategy demonstrates the link between impact and highly competitive returns, which is attractive to investors. We've seen renewed interest from existing investors and significant new commitments to the fund.”

SWEN Blue Ocean 2 will primarily invest in Series A funding rounds, focusing on European companies. However, up to 30% of the fund’s capital can be deployed outside Europe, recognizing the global need for ocean biodiversity solutions. The fund plans to take more lead positions at the Series A stage, with the ability to write first tickets of up to €12 million.

The predecessor, SWEN Blue Ocean Fund, launched in 2021, closed at €170 million, exceeding its initial target of €120 million. It invested in 18 portfolio companies and has already returned significant capital to investors at competitive rates.

To support the new fund, SWEN Capital Partners has expanded the SWEN Blue Ocean team to nine investment professionals, combining expertise across investment, industry, science, and policy.

Beyond investment, SWEN co-founded ‘1000 Ocean Start-ups’ in 2021, a coalition aiming to scale at least 1000 transformative startups by 2031. The initiative brings together incubators, accelerators, matching platforms, and venture capital investors to build a global innovation ecosystem for ocean regeneration.

SWEN Capital Partners continues to lead in aligning investment with environmental impact, demonstrating that financial returns and ecological responsibility can go hand in hand.