Prince Albert II announces $73 million raised for ReOcean Fund
The announcement was made at Nasdaq's headquarters, with Prince Albert II in attendance, during Climate Week NYC © Michael Alesi Prince's Palace
The Prince Albert II of Monaco Foundation and Monaco Asset Management have officially raised 73 million dollars for the ReOcean Fund.
The amount raised shows the growing attraction of the blue economy sector for investors who are convinced of the urgent need to reconcile growth and sustainability.
© Michael Alesi / Prince’s Palace
Live broadcast of the ceremony
Prince Albert II opened the Nasdaq stock market on Wall Street on Monday, a traditional American ceremony that is broadcast live on television. The event marked the official launch of the capital round for the ReOcean Fund, a private equity fund managed by the Prince Albert II Foundation and Monaco Asset Management. This announcement was made during Climate Week in New York. The event also provided an international dimension to Prince Albert II’s dedication to the environment, which he has been pursuing for twenty years.
The fund aims to raise €100 million to invest in the next generation of ocean innovations and accelerate the transition to a carbon-neutral blue economy.
Andrew Forrest’s Minderoo Foundation joined the investors with a contribution of €5 million, bringing the total number of contributors to 22. In his speech, Prince Albert II called on the financial community to collaborate: “Real progress can only be reached through collaboration. Collaboration with scientists, with NGOs, with political leaders, but also with the private sector. Your role is essential to drive the change that we urgently need.”
The ReOcean Fund targets innovative Series A and B companies in five sectors that are aligned with SDG 14: anti-plastic pollution solutions, sustainable blue food, green shipping, marine restoration and ocean data.