Frederick Tsao and venture capitalist Tharald Nustad have launched the $75 million Asia Ocean Fund to promote sustainability in the shipping industry across Asia.
Why it matters: The fund represents a significant step towards addressing pressing environmental challenges in the shipping industry and fostering sustainable growth in the region.
The details:
- The fund will focus on decarbonisation and investments in green shipping infrastructure.
- May Liew, Chief Executive of Octave Capital, and Tharald Nustad, founder of Katapult, are key figures in this initiative.
- OCTAVE Capital and Katapult Ocean will co-manage the fund.
- The fund targets more than 20 investments over the next five years, with the first accelerator set to launch in the first half of 2026.
The fund seeks to fill critical gaps in early-stage funding and provide robust support to the ecosystem.
The focus areas:
- Maritime decarbonisation
- Ocean renewable energy
- Green shipping infrastructure
- Ocean biodiversity and restoration solutions
- Circular resources
- Sustainable aquaculture and marine biotechnology
Jonas Skattum Svegaarden, CEO of Katapult Ocean, emphasized the importance of supporting innovative solutions that contribute to the health of the oceans.
The bottomline: The launch of the Asia Ocean Fund marks a collaborative effort to drive sustainable practices and growth within the maritime sector in Asia.
