The Prince Albert II of Monaco Foundation and Monaco Asset Management unveil the governance of the ReOcean Fund
On Friday, July 7, 2023, the Prince Albert II of Monaco Foundation and Monaco Asset Management officially unveiled the members integrating the governing committees of the ReOcean Fund, a private equity fund dedicated to SDG 14, Life below water, launched in March 2023.
The ReOcean Fund’s strong governance is divided into three different committees with specific roles and missions to ensure impact throughout the investment lifecycle while guarantying integrity and deep expertise both in economy and finance and in ocean issues.
The Impact Committee gather experts on the investment verticals of the ReOcean Fund, providing an opinion on the potential impact of each deal. The Impact Committee holds a veto right on transaction in case they estimate the potential investee’s activities being not impactful enough to be presented to the investment committee.
The Advisory Committee is constituted by experts, business leaders and investors who will advise the management and support the fund on ad-hoc questions. The members will contribute to guide the fund in the development of its strategy and to unlock growth and investment opportunities.
The Investment Committee is the senior management of the Fund. The 4 constituting members are key representatives from the two entities leading the ReOcean Fund: Monaco Asset Management and the Prince Albert II of Monaco Foundation. Taking into account the inputs provided by the impact and advisory committees, members of the Investment Committee are the ultimate decisionmakers on each investment opportunity that will integrate the fund.
Click here to access the ReOcean Fund governance.
The ambition of the ReOcean Fund is to invest €100M to catalyse the next generation of ocean innovations to support the transition towards a net-zero, regenerative and more equitable economy.
The ocean face huge pressures as overexploitation of its resources, pollution, habitat destruction or climate change. Scaling-up investment in solutions that can enable its resilience is essential. The ocean provides critical ecosystem services indispensable to life on earth while offering a regenerative solution to many of the crises we face today as food insecurity, climate emergency and biodiversity crisis.
On the occasion of the launch of the ReOcean Fund in March 2023 in Monaco, the Sovereign expressed the hope that the Fund will provide new resources for the future of the seas, be an opportunity to regenerate the ocean and reduce the effects of climate change.
The sustainable ocean economy has been seriously under-invested in the past – but shifting economic, political and consumer dynamics are turning the tide and building the ocean as an investable asset class.
It is in this perspective that the two Monegasque entities, with complementary strong expertise in ocean conservation and finance, decided to team-up and co-manage the ReOcean Fund with the ambition to support the growth of high impact and innovative companies (from series A&B) aiming to:
- Reduce key sources of pollution in the ocean,
- Transform the way we produce blue food and travel across the ocean,
- Protect marine ecosystems and the critical services they provide,
- Inform and equip stakeholders with robust and transparent data.
The fund will invest in 5 sectors that collectively unlock the regenerative potential of the ocean: solutions to plastic pollution - healthy, regenerative and equitable blue food – green shipping and yachting – restoration and protection – ocean data. It will work on a global geographic scope ensures access to best in class solutions.
The fund aims to accelerate the Foundation’s wider mission to bring humanity together to empower impactful solutions for our planet's biodiversity, climate, ocean and water resources, to build on the Foundation’s track record of successful ocean initiatives, including the Ocean Innovators Platform and mobilise new partners and finance, particularly in the private sector, for ocean and planetary health.
More info on : www.reoceanfund.com