news - FMO investment propels Meloy Fund past 22 million USD for sustainable coastal fisheries

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FMO investment propels Meloy Fund past 22 million USD for sustainable coastal fisheries

September 17, 2018

FMO today announced an 5 million USD investment in the Meloy Fund I, LP, the world’s first impact investment fund dedicated to supporting sustainable coastal fisheries in Indonesia and the Philippines. This brings the fund to a final close at over $22 million. FMO joins a diverse group of family offices, investment managers, and foundations already invested. The investment in the Meloy Fund is made through the MASSIF fund, which is managed by FMO on behalf of the Dutch government.

“FMO is proud to join the Meloy Fund and contribute to the creation of economic opportunities for small-scale fisheries in Indonesia and The Philippines” said Maurice Scheepens, Investment Officer of the Agribusiness, Food & Water department at FMO. “The partnership with Rare, which provides amongst others technical expertise and networks, ensures that inclusive development is linked with the conservation of critical marine habitat.”

“With support from FMO, the Meloy Fund is in a strong position to demonstrate how private capital can support sustainable coastal ecosystems and communities in the Coral Triangle,” said Dale Galvin, Managing Director of Rare’s Sustainable Markets group and Managing Partner of the Fund. “We’re thrilled to partner FMO, which brings a keen eye to impact investing opportunities, and a breadth and depth of institutional experience that will help us deliver significant triple-bottom-line results to our investors.”

Together with global conservation organization Rare, The Meloy Fund seeks to invest in fishing and seafood-related enterprises in Indonesia and the Philippines that will lead to better management and protection of historically undervalued community-based coastal fisheries, as well as opportunities to boost the livelihoods of local, small-scale fishers. Together, Rare estimates these two nations represent 4.3 million fishers, 2.7 million tons of fish, 21 million hectares of critical marine habitat and $4 billion in latent value to be unlocked if sustainability can be achieved.

ABOUT THE MELOY FUND
The Meloy Fund is an impact investment fund that will incentivize the development and adoption of sustainable fisheries by making debt and equity investments in fishing-related enterprises that support the recovery of coastal fisheries in Indonesia and the Philippines. The General Partner of the Fund is a wholly-owned subsidiary of Rare. To learn more about the Meloy Fund, please visit http://www.meloyfund.com

ABOUT RARE
A 4-star Charity Navigator-ranked NGO, Rare is a global leader in the use of behavior change to achieve conservation and development goals. Rare has trained more than 400 community leaders and government employees in 56 countries in campaign planning and social marketing, equipping them to deliver community-based solutions based on natural and social science, while leveraging policy and market forces to accelerate positive environmental change. Rare then works to scale that impact to help deliver the same kind of change elsewhere. To learn more about Rare, please visit http://www.rare.org

ABOUT MASSIF
The MASSIF fund is managed by FMO on behalf of the Dutch government. MASSIF supports financial inclusion through its work with financial institutions, supporting them on their journey to empower women, young people and rural entrepreneurs in low income countries and fragile and conflict-affected states. MASSIF furthermore aims to stimulate financial innovation with a view to broadening access to finance.

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