By Blue Economy Insights
SWEN Capital Partners, the French investment firm known for backing sustainable ocean initiatives, has announced the first close of its second ocean-focused impact vehicle, SWEN Blue Ocean 2, securing €160 million in commitments. The fund is designed to invest in startups advancing ocean biodiversity and addressing the root causes of overfishing, pollution, and climate change.
With a final target of €300 million, the fund is on track to become the largest ocean impact investment fund in the world.
Accelerating Innovation for the Ocean
SWEN Blue Ocean 2 builds upon the success of its predecessor, which raised €170 million and currently holds a portfolio of 18 ocean-tech companies. The new fund will allow SWEN Capital Partners to scale its proven approach, providing more early-stage capital to companies focused on ocean regeneration.
“This ambitious and innovative strategy would not have been possible without the expertise of our Blue Ocean team or the trust of our investors,” said Jérôme Delmas, CEO of SWEN Capital Partners. “Their commitment is essential to accelerating real-world solutions to a challenge that is both systemic and urgent.”
Strong Institutional Support Driving Growth
Institutional interest in the fund continues to grow. Backers of the first close include major players such as the European Investment Fund (EIF), France 2030, Bpifrance, Macif, Abeille Assurances, Matmut, Suravenir, and Mutuelle de Poitiers. Many of these groups had also participated in SWEN’s first Blue Ocean fund, reflecting growing confidence in the strategy.
According to Olivier Raybaud, Co-Managing Director of SWEN Blue Ocean, “We have seen strong renewed interest from existing investors, as well as commitments from significant new partners. This fund allows us to expand our leadership globally and back even more companies delivering critical ocean solutions.”
A Europe-First Approach with Global Reach
SWEN Blue Ocean 2 will prioritize Series A investments in European startups but will also deploy at least 30 percent of its capital outside of Europe. The firm has already identified promising ventures internationally and is building a pipeline of opportunities across multiple continents.
Scaling the Blue Economy Ecosystem
Beyond its funds, SWEN Capital Partners is committed to growing the broader ocean innovation landscape. In 2021, the firm co-founded 1000 Ocean Startups, a coalition of incubators, accelerators, venture firms, and innovation platforms with the goal of supporting 1,000 transformative ocean startups by 2031.
“Momentum around ocean action is increasing globally,” said Christian Lim, Co-Managing Director of SWEN Blue Ocean. “Governments, companies, and communities are working together to prioritize ocean protection. The startup ecosystem plays a vital role in this shift, offering the tools needed to scale change across entire industries. We are proud to help lead this next chapter in climate and biodiversity investing through SWEN Blue Ocean 2.”
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