Friends of the skipper of the lost yacht Cheeki Rafiki are to set sail in his memory later this summer to raise money for the RNLI.
Andrew Bridge from Farnham and James Male from Romsey were among four sailors who disappeared when the Southampton based vessel capsized in the Atlantic.
Sailors Nicky Evans, Roger Swift and Kate Dawson, friends with the 21-year-old Cheeki Rafiki skipper, came up with the idea to raise money and sail in his memory.
Within 24 hours of the donation page opening, £20,000 was raised for the RNLI.
They will take part in the Sevenstar Round Britain and Ireland Race in August.
Thousands of pounds has been raised in memory of four yachtsman, who were lost at sea last month. Skipper Andrew Bridge from Farnham and James Male, from Romsey, Paul Goslin and Steve Warren were on board the Cheeki Rafiki when it overturned in the Atlantic.
They were sailing back to the UK from Antigua. Fellow yachtsmen are raising money for the RNLI and have surpassed their target of five-thousand pounds.
Families of one of the missing British sailors, including two men from the South, have said they are 'shocked and deeply saddened'.
Hope is fading for finding the four men after the life raft for the yacht was found on board the capsized Cheeki Rafiki.
Underwater images taken by a US Navy swimmer found the raft stowed in place, indicating it had not been deployed in an emergency.
The upturned yacht was discovered in the Atlantic Ocean, about 1,000 miles east of Cape Cod in Massachusetts.
Coast guard officials decided to call off the search for the men - including experienced captain Andrew Bridge, 22, from Farnham, Surrey, and crew member James Male, 23, from Southampton.
Also missing are Steve Warren, 52, from Bridgwater, Somerset, and Paul Goslin, 56, from West Camel, Somerset - unless there was new information or sightings which suggested they would still be alive.
The family of Andrew Bridge from Surrey said: "Andrew will be dearly missed by everyone who knew him. Our thoughts and condolences go out to the families of the rest of the crew on the CheekiRafiki."
"We would like to thank everyone who's helped in the search for Andrew, including the US Coast Guard, the Canadian Coast Guard, the RAF, merchant vessels, the yachting community and the British and American Governments."
Hopes of finding the missing crew of Southampton based Cheeki Rafiki have all but faded after the yacht's life raft was found on board the capsized vessel.
The US Coast Guard has called off its search for the four sailors - including Andrew Bridge from Farnham and James Male from Romsey. Richard Jones spoke to sea survival instructor James Brooke and Tony Bullimore who was rescued from his upturned yacht in 1997 after several days.
Hopes of finding the missing British crew of the Cheeki Rafiki have all but faded after the yacht's life raft was found on board the capsized vessel. The US Coast Guard called off its search at midnight (3am GMT), and an RAF Hercules plane due to hunt for the four sailors will not go out today.
Underwater imagery taken by a swimmer from a US Navy warship showed the raft clearly stowed in place, indicating it had not been deployed in an emergency. Prime Minister David Cameron said his 'thoughts are with the families and friends of the crew'.
The upturned yacht was discovered in the Atlantic Ocean yesterday, about 1,000 miles (1,609km) east of Cape Cod in Massachusetts. Its cabin was completely flooded and its windows were shattered. There was no sign of survivors.
The surface rescue swimmer also knocked on the hull and reached below the waterline, but with no results. Navy crews saw that the Cheeki Rafiki's keel was broken off, causing a breach in the hull.
Official British efforts to find the missing men have now also been cancelled.
A spokesman for the Foreign Office said: "The UK C130 was due to search for one more day for the life raft of the Cheeki Rafiki.
"In light of the US Coast Guard's decision to suspend their search for the crew following photographic confirmation that the life raft is in the hull of the boat, the C130 will now return to the UK."
Foreign Office Minister Hugh Robertson said: "I am sad to confirm that the search for the Cheeki Rafiki has now been suspended. My sincere condolences go out to the families of James Male, Andrew Bridge, Steve Warren and Paul Goslin at this very difficult and distressing time.
"The UK Government is grateful to the US Coast Guard and the Canadian search and rescue services for their efforts to locate the men. Their dedication has been unwavering, and they have done everything they could during the course of the search."
A Foreign Office statement on behalf of Mr Warren's family said: "We are very sad that the US has now suspended the search for Stephen and his friends.
Captain Anthony Popiel, 1st US Coast Guard District chief of response, said: "It is with sincere compassion for the families of these four men that our thoughts and prayers are with them all during this difficult time.
"The US Coast Guard is always hopeful, and makes the utmost efforts to find and rescue those in peril. We have the greatest appreciation for the US Navy and US Air Force for working with us alongside the militaries of Canada and the United Kingdom during this massive search effort.
"It is only after our deepest consideration that we suspend our active search efforts."
The US Coast Guard called off its search at 3am British time, and an RAF Hercules plane due to hunt for the four sailors will not go out today.
Underwater imagery taken by a swimmer from a US Navy warship showed the raft clearly stowed in place, indicating it had not been deployed in an emergency.
The upturned yacht was discovered in the Atlantic Ocean yesterday, about 1,000 miles (1,609km) east of Cape Cod in Massachusetts.
Its cabin was completely flooded and windows were shattered, and there was no sign of survivors. Coast guard officials decided to call off the search for the men,
experienced captain Andrew Bridge, 22, from Farnham, Surrey, and crew members James Male, 23, from Southampton, Steve Warren, 52, from Bridgwater, Somerset, and Paul Goslin, 56, from West Camel, Somerset - unless there was new information or sightings which suggested they would still be alive.
In a statement the Coastguard say the warship diverted to the location and deployed a boat crew and surface swimmer to assess the boat. The surface swimmer confirmed the name on the ship was Cheeki Rafiki and went in the water to investigate further.
The swimmer determined the boat's cabin was flooded and windows were shattered, contributing to the complete flooding inside. The swimmer also knocked on the hull and reached an arm's length below the waterline with no results.
The US Coastguard says a US naval ship searching in the Atlantic has found the hull of the Southampton yacht, Cheeki Rafiki. They located the boat a week after the vessel and her four-man crew went missing on a voyage back from the Caribbean.
A Navy diver has confirmed the name of the yacht and has banged on the hull to see if anyone is inside. The cabin of the boat appeared to be flooded. They have not found the yacht's life raft.