Two high-profile names from opposite sides of the world — Asian shipping tycoon Chavalit Frederick Tsao and Norwegian impact investor Tharald Nustad — have teamed up to create a new ocean impact vehicle aimed squarely at Asia.
The pair yesterday unveiled the Asia Ocean Fund, a $75m investment initiative co-managed by Tsao’s Octave Capital and Nustad’s Katapult Ocean.
The fund positions itself as among the first and largest in Asia focused on the blue economy, targeting maritime decarbonisation, ocean renewables, green port infrastructure, biodiversity and restoration projects, circular resources, and sustainable aquaculture. The first accelerator is slated for the first half of 2026, with a goal of backing 20 start-ups within five years.
“Oceans are a shared global lifeline and an investment frontier for regeneration. Asia is at the frontline of both challenges and opportunities. By channelling capital into ocean solutions here, investors can unlock growth while tackling urgent environmental and social needs,” said May Liew, CEO and executive director of Octave Capital.
“Asia’s blue economy holds immense promise, but what’s been missing is the bridge between innovation and capital,” said Jonas Skattum Svegaarden, CEO of Katapult Ocean. “The Asia Ocean Fund is that bridge—de-risking early-stage ventures, attracting broader investment, and empowering entrepreneurs and the Asian ecosystem to drive the global transition towards a thriving ocean economy.”
