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Prince Albert II of Monaco Foundation mulls biodiversity investment

The Foundation is an adviser to Future Planet Capital’s ocean biodiversity VC fund and may become an LP, the fund manager tells New Private Markets.

The Prince Albert II of Monaco Foundation is considering an investment in a venture capital fund focused tackling ocean biodiversity, New Private Markets understands.

Impact venture capital firm Future Planet Capital has raised €20 million for Blue Ocean fund to invest in Series A- and B-stage companies in ocean pollution prevention, preservation of marine environments and ecosystems and sustainable marine productivity, according to a statement from the firm.

Monaco’s sovereign wealth fund, Fonds de Réserve Constitutionnel, is an LP in the fund, a spokesperson for Future Planet Capital told New Private Markets. The Prince Albert II of Monaco Foundation is an adviser to the fund and is also considering investing in the fund as an LP, the Future Planet Capital spokesperson said. The Prince Albert II of Monaco Foundation declined to comment on any future fund commitments.

The foundation was created by Monaco sovereign Albert II in 2006. It launched the Global Fund for Coral Reefs, a philanthropic and investment vehicle to protect and restore coral reef ecosystems, in 2020 alongside the Paul G Allen Family Foundation, BNP Paribas, Althelia Funds and several UN programmes.

Future Planet Capital, founded in 2015 and headquartered in London, is investing its first flagship, Future Planet Fund, which is focused on climate change, education, health, sustainable growth and security. The fund launched in 2017 with a $500 million target. Future Planet Capital’s other funds include the UK Innovation and Science Seed Fund, valued at £1 billion, the Midlands Engine Investment Fund and a Challenge Response Basket in partnership with Barclays Private Bank, according to Future Planet Capital’s website.