EU Commissioner Virginius Sinkevičius and European Investment Fund (EIF) deputy chief executive Roger Havenith have announced a new €500 million dedicated equity initiative for the blue economy and aquaculture under InvestEU at the recent BlueInvest day in Brussels.

The initiative will mobilise an additional €500 million of EU funds for financial intermediaries investing in this sector. Commissioner Sinkevičius also announced that the European Commission’s successful BlueInvest initiative will continue beyond 2022 until 2026. European Commissioner Virginijus Sinkevičius, who is responsible for the environment, oceans and fisheries, praised the achievements of the BlueInvest initiative, which in the past three years has been highly successful in terms of getting hundreds of SMEs coached and matched with investors. The initiative has led to multiple financing deals being signed, has strengthened the investment landscape for the blue economy, increased investor awareness and helped bridge the finance gap for blue technology SMEs and start-ups. Speaking at the BlueInvest day in Brussels, he said, “the first phase of the platform acted as an accelerator to foster innovation and investment in sustainable technologies for the blue economy. To further deepen and scale up these activities, we are now launching the second stage of BlueInvest. This will provide an even better service to European SMEs and investors, and more impact to support the European Green Deal objectives.”. InvestEU Blue Economy, the scaled-up equity initiative, This will result in €1.5 billion of risk-financing available to innovative and sustainable blue economy SMEs and start-ups, via financial intermediaries.