Prince Albert II Foundation announces ReOcean Fund, an investment fund to protect the oceans
The launch took place during Monaco Ocean Week, which the Principality hosted from 20 to 26 March.
Monaco Ocean Week continues to put the spotlight on our oceans and the associated environmental issues. Each year, the meetings, debates and actions carried out during Monaco Ocean Week showcase new initiatives. On Tuesday, the Prince Albert II Foundation (FPA2) made a special announcement with Prince Albert II in attendance: the launch of a private investment fund.
Development through investment
It is named ReOcean Fund, and is run by the FPA2 and Monaco Asset Management, a player in the Monegasque financial community, which manages more than three billion dollars in financial assets. The aim of the project is to invest in the development of businesses that seek to reduce the main sources of pollution in the ocean, protect ecosystems, change the way we produce food from the sea or travel on and in the ocean. The initiative supports the United Nations’ Sustainable Development Goal 14, called Water Life. Behind the name lies an ambition to keep the oceans clean.
Prince Albert II: “our contemporaries are gradually grasping the need to take better care of the oceans”
The principal ambition of the ReOcean Fund is to invest €100 million in a number of innovative companies. “The creation of the ReOcean Fund is in line with the actions carried out for many years by the Prince Albert II of Monaco Foundation,” stressed Olivier Wenden, President of the FPA2. Created in 2006, the Foundation has already supported more than 750 global health projects and awarded over €100 million in grants.