A €300 million growth private equity fund investing in the blue economy, anchored in aquaculture and concentrated in the Nordics.
The core: 40 to 50% of capital across the full value chain, from licenses to brand.
The chain's largest input: functional and alternative protein feed.
RAS, sensing, genetics and health: force multipliers for the core.
Where product moves to market and margin is captured.
High value ingredients and marine biotechnology at the end of the chain.
A fast growing adjacency across food, feed and materials.
Flexible mandate: marine and offshore energy where the opportunity fits.
Flexible mandate: sustainable marine infrastructure supporting the chain.
Ocean based climate solutions, watched selectively.
Aquaculture is the core of the Fund, with 40 to 50% of capital deployed across its full value chain. The remainder goes to the sectors that surround and grow with it, from inputs and technology to processing and ingredients, with a flexible mandate for opportunities elsewhere in the blue economy.
Demand for seafood has grown every decade for sixty years. Wild catch has not grown in thirty years, and in 2022 farmed production surpassed it for the first time.
World seafood production in million tonnes, 1950 to 2035. Source: FAO; values beyond 2022 projected.
Of the roughly 20.6 million tonnes of net new production expected by 2033, more than 90% comes from aquaculture. That growth carries the whole blue economy with it: feed, technology, processing and ingredients.
Net new seafood production to 2033, share of 20.6 Mt total growth. Source: FAO.
Volume and value are not the same thing in this economy. The Nordics, home to roughly half of world salmon supply and the strongest sustainability standards, realize up to ten times more export value per kilogram than the largest volume producers.
Export value per kg of farmed seafood, leading producers. Source: FAO and national trade data; figures indicative.
Underwriting biology, licensing and regulation takes specialist operating expertise that generalist capital does not have. Aquaculture alone is a $300 billion market attracting only $1 to 2 billion of dedicated investment a year.
Dedicated investment funds by theme, worldwide. Figures indicative.
The Fund acquires established operating companies across the blue economy and builds them into larger, higher quality platforms.
Majority positions as the base case, achieved directly or through a staged path from a structured minority. Value is created as an active owner, not through financial leverage.
Platforms expanded through complementary acquisitions and consolidation, integrating upstream into the inputs and technology that supply each platform and downstream into the processing, logistics and ingredients that capture its margin.
Established operating platforms across the blue economy value chain, and select license and location opportunities with a defined ramp plan and clear milestones that reduce risk ahead of scale.
Three decades of founder relationships across operators, family owners, regulators and buyers; systematic origination by subsector; the venture to growth channel; and the portfolio itself as a pipeline.
Platforms institutionalized through governance, certifications and operational discipline, positioned for the global seafood, nutrition and agrifood groups and the financial buyers mandated toward food security and the sustainable ocean economy.
Binding sustainability criteria are a condition of every investment: sustainable at entry, or on a defined, measured transition path under the Fund's ownership. The Fund is aligned with SDG 14, 2, 12 and 13, reports KPIs under SFDR, and is classified under Article 8.
Sustainability related disclosures →This page is a summary for information purposes only. It does not constitute an offer to sell or a solicitation of an offer to buy any interest in the Fund. Any offer will be made only through the Fund's definitive documentation, addressed exclusively to institutional investors.