Welcome to our July Newsletter!
Cheers for the First Aquaculture “Unicorn”:
The Indonesian-based aquaculture technology company eFishery received a $1.4 billion valuation as a result of its recent $200 million Series D raise, making it the first aquaculture startup to achieve unicorn (or as some would say, “narwhal”) status. Amy Novogratz, who along with Mike Velings has pioneered this field with their Aqua-Spark fund, provides insightful context in this article from The Fish Site . We often get asked whether there have been notable “blue economy” exits, and while this is a valuation and not an exit, it has already raised awareness within the investment community – and as Amy points out, has resulted in “an influx of calls from investors looking for the next eFishery.” A very worthwhile and informative read.
We Don’t Usually Write About the Weather, But…
Recent global heat waves, floods and fires are ringing alarms louder than ever, and there have been numerous outstanding analyses and reflections on our current situation. Here are a few suggestions for pieces that provide a broader perspective. Think of this as a mini summer reading list:
Also Some Good News – NOAA Accelerates on Accelerators:
In case you were wondering what NOAA is doing with its $3.3 billion allocation from the Inflation Reduction Act (IRA), here’s where $60 million is going: the Ocean-Based Climate Resilience Accelerators program . This groundbreaking initiative will help build a science-driven, inclusive, scaled nationwide innovation community to accelerate promising climate solutions. The program includes two rounds, with Phase 1 funding as many as 15 design awards (up to $250k over 9 months), followed by Phase 2 funding select awards for implementation (up to $10 million each, over 4 years). See more detailed information here. Working closely with accelerators is a central component of our business at Investable Oceans, and we look forward to helping with this important mission in any way we can. Shout-out to all those involved with this at NOAA and their partners!
A Few Summer Updates From Our Team:
- Tiffany Duong (IO Principal) and two fellow explorers have created an award-winning VR experience in support of SDG 14: Life Below Water; " Found in the Fjords" places you in Arctic Norway as a juvenile Orca, where you learn how to survive and thrive in a changing ocean.
- Morgan Bennett-Smith is in Kimbe Bay, Papua New Guinea researching the ways clownfish help their symbiotic host sea anemones survive and recover from coral reef bleaching events as part of his doctoral work with the Boston University Marine Program.
- Helena Janulis, in addition to her work in Business Development and Special Projects at Investable Oceans, has joined Woods Hole Oceanographic Institution’s COP 28 Team as the Associate Project Manager for the Ocean Pavilion.
Don’t Stop Scrolling!:
- A thought-piece on the blue economy from Markus Müller, Deutsche Bank’s Chief Investment Officer ESG & Global Head of Chief Investment Office
- A new guide to managing blue carbon ecosystems as a nature-based solution for supporting sustainable development from the High Level Panel for A Sustainable Ocean Economy
- One Ocean Foundation’s Third Edition of Business for Ocean Sustainability that puts forward the concept of Blue Natural Capital as the guiding principle underpinning a nature-positive Ocean Economy
Please let us know if you’re coming to New York City for Climate Week NYC, we would love to try to connect.
As always, we thank you for your support and hope you enjoy the rest of your summer! 🌊 🏖️ 🏄♀️
The Investable Oceans Team
