The report contains insights into all 28 of the companies that Aqua-Spark has invested in
The report, which was published today, includes reflections on the sector from the fund’s founders – Mike Velings and Amy Novogratz – as well as an outlook for the future from Lissy Smit, its current CEO.
As the co-founders explain: “In 2013, Aqua-Spark* had no co-investors dedicated to sustainable aquaculture. Today, there are close to 200 Blue Economy funds bringing an influx of capital to support improved practices and growth across the industry. Moving sustainable aquaculture forward amid growing demand will require the participation of more large-scale investors.
“The last decade has given us a lot to celebrate. Many production challenges have been resolved, technology - such as advances in genetics and artificial intelligence - has entered the field, and a wide cohort of industry leaders now share a vision for the future. Growing attention to the global food system and its effect on our planet, proof of technological solutions, and growing economic viability means now is the moment for growth.
“We look forward to the next phase: bringing new solutions into the Aqua-Spark portfolio, as well as continuing to finance growth-stage companies, proving their worth. Together, we are realising a new commercial aquaculture industry that is healthier and sustainable.”
Smit added: “Aqua-Spark was one of the earliest funds in the Blue Economy and Blue Foods space. Now, at nearly €500M AUM [assets under management], we are the largest investment fund dedicated to sustainable aquaculture. Our community of investors is fuelling aquaculture's innovators, enabling the most promising teams to scale their solutions and our portfolio ecosystem to flourish.
“As you’ve read in this report, eFishery is preparing for a huge expansion; by building a successful platform model, Gibran Huzaifah and his team are showing a clear pathway to becoming a listed company, while staying dedicated to their mission of serving smallholder farmers. The alternative feed ingredients companies we began supporting many years ago are now making big gains in infrastructure and partnerships, securing sizeable investment, and growing the market demand. And we’re excited about the limitless potential of seaweed—with so many species and applications, Sea6 Energy has given the world a first step toward scalable cultivation with their new, fully-mechanised farm in Indonesia.”
According to Smit, some of the new areas the fund will be looking to invest in include:
- Datafication of upstream environments as a way to enable new business models, efficiencies, farmer profitability, and sustainability
- New and novel farming systems and locations—including land-based closed systems, semi-closed coastline systems, and offshore systems
- Health and biotechnologies that can advance genetic improvements, offer pathways to decrease antimicrobial usage, and novel solutions to manage the farm environment for disease prevention.
“The wind is in our sails. Our committed group of existing investors, increased commitment from new investors, and many innovations in all stages of research, development, and scale are leading to unprecedented achievement sector-wide. We’re energized and looking forward to working together to shape the next decade,” Smit concludes.
*Hatch is part of Aqua-Spark's investment portfolio, but The Fish Site retains editorial independence.