SWEN Capital Partners, a sustainable ocean fund backed by the Walton family's Builder's Vision and Norwegian investment group Ferd, has closed its Blue Ocean Fund after reaching €170 million ($180 million) in investment.
The France-based investor initially targeted a €120 million ($127 million) investment.
"With this final closing, Blue Ocean becomes the world's largest fund dedicated to innovation in marine health," CEO of SWEN Capital Partners CEO Jeroome Delmas said.
The fund aims to tackle three threats affecting ocean health; overfishing, pollution, and climate change, the company said.
Institutional investors in the fund range from pension funds to insurance companies, banks, sovereign funds, and family offices. The funding round includes investments from Abeille Assurances and the Prince Albert II of Monaco Foundation.
In October, the firm raised €38 million ($37 million) from international institutional investors.
The fund was originally launched in September 2021 to finance 20-25 companies across various sectors, including sustainable aquaculture, ocean data, plant and cell-based seafood as well as decarbonization of maritime transport.
The fund to date has made nine investments, including Norway-based developer of accurate and real time fish biomass measurement OptoScale.