The new fund is described as the "first globally backed fund to bridge innovation and capital, accelerating Asia’s leadership in the blue economy."
Photo: Octave Kapital / Katapult Ocean
Hong Kong-based investment firm OCTAVE Capital and Norwegian ocean impact venture fund Katapult Ocean have this week launched the Asia Ocean Fund, a US$75 million impact investment fund "designed to accelerate breakthrough solutions, filling a critical gap in early-stage funding across the region and providing strong backing to the ecosystem that is already emerging," according to the partners.
The initiative was unveiled at IMPACT WEEK 2025 in Singapore, where the two organisations signed a Memorandum of Understanding (MoU).
The fund will be one of the largest of its kind in Asia, which the organisations point out faces a US $5.5 trillion funding gap to meet the UN Sustainable Development Goal 14 (Life Below Water) by 2030. While investment in Asian ocean start-ups has doubled to US $400 million between 2020 and 2024, the fund partners argue this remains far behind other regions, with US start-ups attracting more than US $800 million last year alone.
In order to bridge this gap, the fund will target early-stage ventures and provide follow-on support to help companies scale. Over the next five years, it plans to back more than 20 businesses, with the first accelerator programme launching in early 2026.
Asia produces most of the world’s seafood, manages two-thirds of global maritime trade and supports millions of livelihoods, but faces urgent threats from climate change, overfishing and pollution.
"Oceans are a shared global lifeline and an investment frontier for regeneration. Asia is at the frontline of both challenges and opportunities. By channelling capital into ocean solutions here, investors can unlock growth while tackling urgent environmental and social needs," said May Liew, CEO and Executive Director of OCTAVE Capital. "With Katapult Ocean, OCTAVE Capital is harnessing our maritime roots and systems perspective to build an investment platform that restores, not extracts."
The fund will invest in solutions across six blue economy sectors: maritime decarbonisation, ocean renewable energy, green shipping infrastructure, ocean biodiversity and restoration, circular resources, and sustainable aquaculture and marine biotechnology.
Katapult Ocean CEO Jonas Skattum Svegaarden said the fund would provide a vital link between innovators and investors.
“Asia’s blue economy holds immense promise, but what’s been missing is the bridge between innovation and capital," he said.
"The Asia Ocean fund is that bridge - de-risking early-stage ventures, attracting broader investment, and empowering entrepreneurs and the Asian ecosystem to drive the global transition towards a thriving ocean economy. We’re proud to co-manage this pioneering effort with OCTAVE Capital," Svegaarden said.
