The Prince Albert II of Monaco Foundation has announced that its impact investment vehicle, the ReOcean Fund, has successfully raised $73 million. The milestone was unveiled at Nasdaq headquarters in New York during Climate Week, with His Serene Highness Prince Albert II present for the occasion.
Launched in partnership with Monaco Asset Management, the ReOcean Fund is working towards a €100 million target to accelerate ocean-based innovation. The fund is designed to back companies developing technologies that reduce pollution, promote sustainable blue foods, decarbonize shipping, restore marine ecosystems, and advance ocean data solutions.
Olivier Wenden, Vice-President and CEO of the Foundation, said the fundraising result reflects a growing appetite among investors for the so-called blue economy. “The ocean underpins climate stability and resilience,” he said. “We now see a generation of companies offering scalable solutions with tangible environmental and economic benefits. The ReOcean Fund is about channeling capital to speed up that transition.”
Among the new backers is Australia’s Minderoo Foundation, led by Dr Andrew Forrest, which confirmed a €5 million investment. Forrest described the ocean as being “at breaking point” and urged bold investment in science-driven innovation to reverse the damage. “Healthy oceans are fundamental to a fair future,” he said. “This fund shows how private capital can drive solutions that protect both people and the planet.”
To date, 22 investors have committed to the fund. The first portfolio company, NatureMetrics, a UK-based environmental DNA pioneer, has already joined. The fund will continue targeting early-stage investments across Series A and B rounds, in line with UN Sustainable Development Goal 14: Life Below Water .
For Monaco, the announcement underscores a broader strategy of blending philanthropy with impact investment, as the Principality seeks to position itself at the forefront of sustainable finance and climate action.
