BRF targets investments into in next-generation fish farms, regenerative seaweed and bivalve farming, nutrition, enabling technology, health and genetics, and alternative seafood.
Photo: The Nature Conservancy
The Blue Revolution Fund (BRF), a sustainability-focused impact investment fund, has surpassed its original fundraising target, securing €93 million (approximately USD 100m) in commitments, the Nature Conservancy has announced.
Established by Hatch Blue and advised by The Nature Conservancy, BRF aims to accelerate sustainable practices in the rapidly expanding aquaculture sector through investments in innovative technologies and systems.
“With the right practices and technologies, aquaculture can be a force for good, providing a low-carbon food source while actively supporting ocean health,” said Robert Jones, Director of Global Aquatic Food Systems for The Nature Conservancy, in a press release.
“Through strategic investments, BRF aims to accelerate the development and adoption of technologies and farming practices that have the potential to move aquaculture closer to realizing its nature-positive potential," Jones added.
BRF’s investments target a wide range of innovative aquaculture ventures, from fish farms and regenerative seaweed farming to alternative seafood production, the partners note.
Thus far, the fund has invested in six companies, including Norwegian firm CageEye, which enhances feeding efficiency through fish behavior monitoring, ChucaoTec, an Irish-Chilean company producing nanobubble oxygenation technology for the salmon and shrimp farming sectors, and DeNova, a Canadian company developing sustainable single-cell protein for aqua feeds.
“The fund focuses on solutions that provide both financial and environmental returns, such as innovative feed ingredients that surpass existing ingredients in sustainability while maintaining cost-competitiveness,” said Georg Baunach, Managing Partner of Hatch Blue.
“Technologies, health, or genetic solutions that enhance feed conversion ratios or survival rates also present interesting opportunities due to the current surge in input costs and their close alignment with reducing Scope 3 emissions," Baunach added.
“The final closing of the BRF above our €75 million target is a promising sign that the investment community values our approach," he said.
The BRF expects to invest in nine additional companies in the coming months, the Nature Conservancy has confirmed.
Hatch Blue and The Nature Conservancy have indicated they will release guidance resources early next year, explaining pre-investment conservation diligence, portfolio impact measurement and reporting in the aquaculture impact investment sector.
"These resources will support other investors in choosing investment opportunities that generate attractive financial returns and positive environmental impacts," the organizations said.