Updated with correction
Hedge fund manager Raymond T. Dalio and his son Mark are the founders of OceanX, an initiative to unite scientific research, technology, exploration, filmmaking and social media to explore the world’s oceans.
OceanX, launched June 4, is a new project of The Dalio Foundation Inc., the Dalio family’s philanthropic organization.
“I believe that ocean exploration is more exciting and important than space travel. We are on a mission to show people that,” said Mr. Dalio, founder, co-chairman and co-chief investment officer of Bridgewater Associates LP in an OceanX news release.
Key to the success of the project is the M/V Alucia 2, “the most advanced science and media vessel ever built” featuring cutting edge onboard wet and dry marine research labs, manned and autonomous deep-sea submersibles, helicopters, drone and production and media facilities, the release said.
The younger Mr. Dalio, who is founder and creative director of OceanX Media, promised to bring “the excitement of ocean discovery the way “The Undersea World of Jacques Cousteau did,” per the release.
Although the Alucia 2 won’t be ready for launch until early 2019, OceanX already is teasing the social media world on Facebook page with gorgeous undersea photos from previous underwater research conducted on the organization’s first research vessel, M/V Alucia.
The Dalio Foundation has the support of a wide array of partners for the OceanX project including American Museum of Natural History, BBC Studios, Bloomberg Philanthropies, Woods Hole Oceanographic Institute and Conservation International.
Bridgewater Associates manages $164 billion in hedge fund and other alternative investment strategies for 300 institutional investors/ .
The Dalio Foundation had assets of $799 million as of Dec. 31, 2016.
Both entities are located in Westport, Conn.