Mirova has announced the close of its Althelia Sustainable Ocean Fund after reaching £132m in assets.

The fund makes impact investments into marine and coastal projects and invests in three areas of the blue economy – sustainable seafood, the circular economy and ocean conservation. Mirova says the fund has already committed to seven investments in areas ranging from sustainable seafood production, to tackling marine waste and plastics pollution, through to the creation of new Marine Protected Areas.

The fund team is led by Simon Dent and David Barley.