Outrigger Impact launches blue economy fund targeting $100 million

Outrigger Impact launched Outrigger Impact Fund I and held a first close, targeting $100 million for equity and debt deals in blue economy businesses across Small Island Developing States. The UK platform said it anticipates a final close in 2027.

The blended finance vehicle will provide equity and debt financing to businesses and projects aimed at strengthening climate resilience and supporting marine ecosystems. Target sectors run from marine conservation, sustainable fisheries and ecotourism to circular economy, sustainable marine infrastructure and renewable energy. Outrigger Impact was founded in 2024.

For allocators screening ocean and biodiversity strategies, deployment pacing rests on the Outrigger Technical Assistance Facility, which uses grants and concessional financing to bring early-stage projects to investment-readiness. The facility is backed by the Ocean Risk and Resilience Action Alliance, the Global Environment Facility, the Nordic Development Fund and the UK's Blue Planet Fund, which means the fund's pipeline is prepared with grant support before investment capital is committed.

Outrigger said the fund aims to benefit at least 2 million people and support more than 12,500 jobs. It also targets avoiding 1 million tonnes of CO2 emissions and improving the resilience of more than 100,000 hectares of natural ecosystems.

The investor case leans on scale. Small Island Developing States oversee roughly 30% of the world's oceans through their Exclusive Economic Zones and hold more than 20% of global biodiversity and about 40% of coral reefs, while receiving a relatively small share of global development finance, according to ESG Today. Outrigger said the fund would help close the estimated $10 billion annual global adaptation finance gap for islands; the $100 million target is about 1% of that annual figure.

Simon Dent, managing director at Outrigger Impact, said the first close was "a major milestone in our ambition to support adaptation and resilience in Small Island Developing States." He said the platform combines private and junior capital with grant funding for technical assistance.