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£18 million earmarked for aquaculture investments

Atlantic Salmon Economics +3 more

Seafood investor Broodstock Capital has raised NOK 200 million (£18.2 million) for another dedicated investment fund for the seafood and aquaculture industries.

“A large number of investors have contacted us after we set up our first fund just over a year ago. The investors in the new fund are a few selected professional family offices with strong interest and good insight into the seafood industry. We believe they are a good match for us – and vice versa,” says Kjetil Haga, partner at Broodstock Capital.

Similar to Broodstock Capital’s first fund, the new fund will focus exclusively on investments in small and medium sized businesses within the seafood industry in general and in the fish farming supply chain specifically. The new fund will co-invest with the existing fund, in which Ferd is the cornerstone investor.

The first co-investment between the two funds was made in December when Broodstock Capital acquired 52 percent of the shares in Maritech Systems, a company that provides software and digital solutions to the seafood industry.

“The new set-up reinforces our strategy of investing in market leaders within growth niches in the seafood industry. In addition, the businesses must have a sustained competitive edge and solid management team,” says Simen L Bjørnstad, partner at Broodstock Capital.

Bjørnstad adds that active ownership through “competent capital” will remain a key part of Broodstock Capital’s investment strategy, as the company wants to own and develop businesses in partnership with founders, management and existing owners.

Broodstock Capital has been loyal to this strategy for all its investments, including Maritech Systems, net cleaning company Multi Pump Innovation (MPI) and Billund Aquaculture. The fund promises further investments in the near future.

“We have available funds and a strong deal flow. The key is to identify companies that truly possess a sustained competitive advantage and thus have the highest growth potential. We have identified several companies in this category, both in Norway and internationally,” says Kjetil Haga.