Blue economy-focused investment platform Outrigger Impact announced the launch and first close of Outrigger Impact Fund I, a blended finance fund aimed at providing equity and debt financing to blue economy businesses in Small Island Developing States (SIDS).
Outrigger said that it is targeting $100 million for the new fund, with a final close anticipated in 2027.The firm said that it aims to benefit at least 2 million people, support more than 12,500 jobs, avoid 1 million tonnes of CO2 emissions, and enhance the resilience of more than 100,000 hectares of natural ecosystems.
SIDS collectively oversee approximately 30% of the world’s oceans through their Exclusive Economic Zones and are home to more than 20% of global biodiversity and approximately 40% of coral reefs, despite receiving a relatively small share of global development finance.
Founded in 2024, UK-based Outrigger Impact is a blue economy investment platform focused on supporting climate resilience and sustainable economic development in SIDS. The firm provides investment capital and technical assistance across sectors including marine conservation, sustainable fisheries, ecotourism, circular economy, sustainable marine infrastructure and renewable energy.
The fund will provide equity and debt financing to businesses and projects aimed at strengthening climate resilience and supporting marine ecosystems. Outrigger said that the fund will help to close the estimated $10 billion annual global adaptation finance gap for islands by fostering a sustainable ocean economy.
Simon Dent, Managing Director at Outrigger Impact, said:
“Achieving the first close of the Outrigger Impact Fund is a major milestone in our ambition to support adaptation and resilience in Small Island Developing States. Through combining private and junior capital, alongside grant funding for technical assistance, Outrigger is accelerating critical blue economy investment at scale into island states.”
Alongside the investment fund is the Outrigger Technical Assistance Facility (OTAF), which provides grants and concessional financing to help early-stage projects become investment-ready and to build a pipeline of investable opportunities. The OTAF is backed by, the Ocean Risk and Resilience Action Alliance (ORRAA), the Global Environment Facility, the Nordic Development Fund and the United Kingdom’s Blue Planet Fund.
Karen Sack, Executive Director of ORRAA, said:
“The launch of the Outrigger Impact Fund is a great first step to address the immense challenges faced by what we call Big Ocean States, particularly when it comes to mobilising investment into small and medium-sized enterprises. We are seeing significant commercial opportunities to back brilliant businesses, from ocean-based renewable energy to blue technology, and from infrastructure to nature-based solutions that are also regenerative and sustainable.”
