S'pore to Host $64m Fund for Start-Ups Backing Asia Ocean Health

Norway-based impact investment firm Katapult Ocean to launch fund in 2026

- Audrey Tan

NICE, France - Norway-based impact investment firm Katapult Ocean will launch a US$50 million (S$64.1 million) fund in Singapore in early 2026 to invest in start-ups that support ocean health in Asia, The Straits Times has learnt.

The firm, which has made 75 investments in companies globally since 2018, is considered one of the world's most active ocean impact venture fund managers. It has investments in sustainable seaweed production and offshore wind power infrastructure, among other areas.

Katapult Ocean Asia associate director Maureen Bresil told ST on June 11 that there are many opportunities in the region, including in decarbonisation, tackling ocean pollution, sustainable aquaculture and eco-tourism.

Speaking on the sidelines of the UN Ocean Conference in Nice, Ms Bresil said: "We wanted to be in Asia - closer to funders, closer to issues we need to tackle."

Existing estimates suggest that five Asian countries - China, Indonesia, the Philippines, Thailand and Vietnam - accounted for up to 60 per cent of the plastic waste leaking into the ocean.

UN data also shows that Asia accounted for 75 per cent of the world's total fisheries and aquaculture production.

She added: "We also want to be in Singapore, because we know that there is a lot of capital there that can be diverted into ocean impact in Asia."

News of Katapult's Ocean Asia Fund comes amid growing interest from the private sector in the blue economy. The World Bank defines the blue economy as the sustainable use of ocean resources for economic growth, improved livelihoods and jobs while preserving the health of the ocean ecosystem.

Ahead of the UN Ocean Conference, which started on June 9, some of the world's top financial institutions gathered in Monaco on June 7 and 8 to spotlight the economic opportunity from investing in the health of the ocean and the perils of inaction.