Impact First Investing with Gracie White, Conservation International Ventures

Welcome to Planet & Purpose , a bi-weekly LinkedIn Newsletter featuring professional insights and personal experiences from ocean and climate ecopreneurs, VCs, advocates, and beyond.

If you’re new to my page and this newsletter, I’m Daniela V. Fernandez , Founder & CEO of Sustainable Ocean Alliance (SOA).

Today I am joined by Gracie White —major shark enthusiast, former circus performer, and tireless seaweed champion turned… investor. I cannot wait to share her career path with you!

In her role at Conservation International Ventures LLC (CI Ventures)—a venture philanthropy program investing in companies aligned with Conservation International ’s broader conservation goals—she helps to advance an impact-first model of fiscal support to propel progress for underserved planetary guardians.

In this special edition, you’re bound to be inspired when you learn about some of CI Ventures’ amazing community-led and women-led investments.

Gracie highlights capital infusions to innovative ventures tackling pollution reduction, regenerative blue foods, marine protected area creation and management, and much more.

Dive in below and stay tuned for conversations with more inspiring women, coming next month.

Daniela (DVF): Welcome to Planet & Purpose , Gracie!

Gracie White (GW): Thanks so much Daniela, anything for a fellow champion of ocean startups!

DVF: I always like to begin by asking interviewees about their journey to where they are now. Please enlighten our audience today with your unique pathway to the sustainable blue economy.?

GW: Happy to! Despite growing up in land-locked Minnesota, I always knew I’d dedicate my career to protecting marine ecosystems. Many of my ocean colleagues don’t know I was briefly a professional circus performer, which was crucial for my personal and professional development.

Slipping back into the current, I pursued academia with the goal of becoming a shark researcher. I ultimately made my way down the food chain, studying tuna management and salmon farming at 耶鲁大学 .

I even attempted to make a documentary about seafood mislabeling, teaching myself to sequence DNA to test sashimi from local sushi restaurants. My advice? Avoid red snapper rolls!

After completing my senior thesis on the ecosystem services of seaweed, I worked in kelp farming and eventually co-founded a venture to grow red seaweed for ruminant livestock (cows, goats, sheep, etc.) to reduce methane emissions.

DVF: Wow, I definitely did not know about the stint in the circus! This may be the most unique response I’ve ever received. How did you eventually end up at Conservation International (CI) Ventures and what does your role there look like?

GW: I opted to step back from seaweed for a bit to pursue a Master's in Coastal Marine Resource Management from the Bren School of Environmental Science & Management - University of California, Santa Barbara .

While there, I interned for Hatch Blue . This experience is what really solidified my desire to work in blue economy impact investing. I’ve now been at CI Ventures for almost four years, and lead our blue economy funding efforts.

This has involved deal sourcing, analysis, diligence, execution, and portfolio management as well as fundraising. Needless to say, it’s been a busy few years, so I was thrilled that CI Ventures recently expanded our ocean program, welcoming Conner Lachenbruch earlier this year.

DVF: Congrats on the expansion of your team! As a founder myself, I know how much team growth can influence your organization’s impact. Speaking of, can you explain CI Ventures’ ‘Impact-First’ model ?

GW: At CI Ventures, we invest in companies aligned with Conservation International’s broader conservation goals that work in geographies currently underserved by investors. Even though these regions may be considered higher risk on paper, they are exactly the areas where our conservation efforts are most critical.

So, we use philanthropic capital to make direct investments into enterprises working in Southeast Asia, Latin America, and Sub-Saharan Africa with outsized potential for environmental and social impact. Our goal is not to maximize our returns. Rather, it’s to help high-impact enterprises build financial credibility to a point where they can attract more traditional forms of financing.?

To date, we’ve invested about $5 million USD into 13 blue economy enterprises , and I’m excited to keep supporting their growth over the coming years.

DVF: That is amazing, you should be so proud of this impact! How would you say CI Ventures’ approach to catalytic capital is differentiated in the space?

GW: Since we don’t need to target market rate returns, we can be very flexible with our investments across a wide range of structures—such as loans, credit facilities, revenue-based financing, convertible loans, and equity.?

Essentially, we can identify companies we are excited about from an impact perspective, and then determine the financing structure that best fits their stage and business model. As a non-profit, we operate as a revolving investment vehicle, so the returns we get will be recycled. We also incentivize impact. For example, reducing interest rates for meeting impact targets (job creation, area of land under improved management, etc.).

DVF: I’d love to learn about some of CI Ventures’ impact-first investments! Can you share an example of one you are particularly proud of??

GW: Absolutely. So, keeping in mind that you now know my professional background in seaweed aquaculture, you can imagine my excitement when CI Ventures connected with Coast 4C .

Their venture provides technical assistance and services to small-scale seaweed farmers in the Philippines. Their goal is to sustainably increase seaweed production levels, minimize coral reef damage and marine plastic pollution, and ensure seaweed farming contributes to ocean health.?

Their geolocation is critical because smallholder farmers in the Philippines and Indonesia produce over 95% of the world's most cultivated seaweeds . However, they have been historically underserved and face the challenges of minimal funding and research support, limited regulations, and a lack of standardized sustainable growing and selling frameworks.?

Given the potential for scaled impact, I’m thrilled that Coast 4C is a 2024 Earthshot Prize Finalist !

DVF: That is incredible to hear! We are proud to be Earthshot Prize nominators at SOA. It is always an honor to be a part of the process of uplifting ocean-based solutions like Coast 4C.?

Our two organizations also share another common impact area—regenerative blue food. What are some examples of CI Ventures’ investments in this area??

GW: The perfect example of our regenerative blue foods portfolio is JALA .

This woman-led tech startup has developed cost-effective water quality monitoring tools for real-time environmental condition monitoring in Indonesia. They raised a $13 million USD series A at the end of 2023, and their founder Liris Maduningtyas was named to Forbes Indonesia's 30 Under 30 in 2021.

CI Ventures and JALA are now collaborating on the Climate Smart Shrimp Initiative to help shrimp farmers sustainably intensify their operations to use less land while restoring mangroves.?

As CI Ventures’ first blue economy investment, seeing their progress to date has been so rewarding!

DVF: I’m always blown away by the trailblazing women in our sector, and I know that’s a sentiment you and I share. And the support for more women-led ventures is critical, given that female-founded businesses receive less than 3% of VC dollars each year.

GW: Absolutely! I recently read When Women Lead and one quote really stuck with me:?

“Women CEOs tend to spend 25% less capital per month than men while achieving similar growth milestones, how can we not be backing many more women leaders in the climate tech investment ecosystem? Non-linear, complex problems need creative solutions, and women are the best bet out there to do it – particularly when we’re in a funding environment where every dollar counts.”

That’s why I’m so proud of our collaboration with Hatch Blue on Women in Ocean Food .

DVF: Thanks for the suggestion, I’ll have to read it. As to the collaboration with Hatch Blue, please tell us more!

GW: Women in Ocean Food is a fully philanthropic, early-stage business support program for female founders in the blue economy. It was specifically created to begin addressing the massive gender gap in both VC financing and seafood leadership, particularly in emerging markets.?

We’ve done two programs to date, one in Indonesia for women across Southeast Asia (2022), and one in Mexico (2024) for women across Latin America and the Caribbean. If this initiative would help you, please see the ‘BONUS’ section of this newsletter for details on how to apply to our 2025 program!?

To remove barriers to participation, we cover all travel and accommodation costs. In the 6 months following the most recent cohort in Mexico, participants have collectively raised almost $500,000 USD in both grant and investment funding, hitting many business-specific milestones.

DVF: I agree, the momentum is definitely growing! I hope to see more and more initiatives like this.?

Another focus area of both SOA and CI Ventures is ocean-positive materials and circular economy innovations. Any ventures or founders you’d like to spotlight?

GW: With pleasure!?

Bureo Inc works across Central and South America to provide an incentivized program to collect, clean, sort, and recycle end-of-life fishing nets into Bureo’s NetPlus? nylon material .?

This creates positive solutions for end-of-life fishing nets, employment opportunities for local workers, and funding for community programs.

To date, Bureo has collected more than 10 million pounds of fishing nets in 9 countries.?

Their recycled nylon is used in Patagonia ’s supply chain, and they’ve just launched a new product line with Finisterre .

DVF: I’m encouraged by the wave of innovation to solve the issues of ghost gear in our ocean. SOA’s Ecopreneur Network member Blue Ocean Gear is also working on the flip side of this!?

Their approach leverages smart buoys to reduce loss and waste, prevent pollution, and protect biodiversity. Speaking of approaches, any advice for founders on how to approach investors?

GW: First, I love Blue Ocean Gear! CI Ventures also invested in Kortney Opshaug 's vision and innovative technology.

To answer your question on advice, I always tell founders to simplify their messaging. Spend time honing in on the top 2-3 points you want an investor to understand and remember. Details are great, but save them for a follow-up.

It’s important to note as well, your top key points will change depending on your audience. Do your research, and know what your target investors care about most.

DVF: Great advice. Final question, for the benefit of anyone reading this who is inspired by your career path, what skills, talents, and interests do you need to be a successful philanthropic investor?

GW:? I think it’s really two main things:

1. I often describe myself as a fish nerd. I’m incredibly passionate about the subject matter, and thus always learning. The blue economy is a nascent sector, and many unknowns remain.

I think it’s important to both have a commitment to continued learning, but also to be honest with yourself and others about what you don’t know.

2. I really love getting to support founders. I think the best part of the job is getting to help great people build great solutions addressing problems for people and ecosystems around the world.?

DVF: So for you, it boils down to passion for the sustainable blue economy, a desire to advance solutions, and founders behind them as strong indicators you could thrive as an impact investor.

This edition has been full of insights. I truly hope it inspires more investments and innovations in our growing industry.?

Gracie, thank you for the work you are doing–particularly in funding women-led, sustainable blue economy ventures to bridge the gender finance gap–and of course for joining me today.

GW: Thanks Daniela. From one ocean lover to another, this has been a delight!

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OPPORTUNITIES WITH CI VENTURES

APPLICATIONS OPEN FOR WOMEN IN OCEAN FOOD 2025 PROGRAM

Female entrepreneurs across Latin America and the Caribbean can now apply to join the next cohort of Women in Ocean Food. The program will kick off January 6-16, 2025. Learn more and apply here by November 29, 2024.

PITCH YOUR OCEAN SOLUTION TO GRACIE

If you’re the founder of a nature-based solution or an enterprise that offers direct benefits to either coral reef or mangrove ecosystems and are fundraising right now, Gracie is interested in hearing from you! Send your deck to [email protected] .

OPPORTUNITIES IN SOA’S NETWORK

SOA X MARMARA PROJECT DOCUMENTARY VIRTUAL SCREENING

On November 7, Sustainable Ocean Alliance and our Marmara Sea Hub will host a special virtual screening of MARMARA to shine a spotlight on the critical conservation challenges facing the Marmara Sea in Türkiye.

Register for the free virtual screening here .