Silverstrand Capital has announced this week an additional €15 million investment in the aquaculture investment fund Aqua-Spark "to spark large-scale transformation in aquaculture industry". Silverstrand's impact investing mandate is focused on combating the biodiversity crisis and advancing regenerative food systems and natural climate solutions. With this new contribution, the Singapore impact investor's total participation in the Netherlands-based aquaculture investment fund is €25 million.
"As the global demand for protein continues to grow, our ocean's health and marine biodiversity are increasingly under threat. Innovative solutions are needed to both feed the world and ease overfishing pressures on wild populations", explained Kelvin Chiu, Founder & Principal of Silverstrand Capital. "Aqua-Spark is a leader in sustainable aquaculture with a proven track record. Amy and Mike lead a strong team with deep expertise and are transforming their vision of a better food system into reality. Silverstrand is very much aligned with their values and mission and proud to be long-term partners of Aqua-Spark", he added.
On their side, Amy Novogratz and Mike Velings, co-founders of Aqua-Spark, noted that with the world's population now over 8 billion people, smarter and more efficient methods of growing nutrient-rich food are needed. "Fish supply 17% of the world's protein, and by 2030 the planet is expected to eat nearly 20% more fish. With our ocean approaching the brink of species collapse, this increase must come from sustainable sources: namely aquaculture", they said. "With its initial investment, Silverstrand Capital had already committed to a better future for responsible aquaculture and with this next round they are doubling down. We are honored to work with them and to keep advancing a commercial aquaculture system that puts our planet and its population's health first".
Aqua-Spark is the world's largest sustainable aquaculture fund. Silverstrand Capital first invested in it in 2020, joining the network of experts, organizations, institutions, and portfolio companies of the Netherlands-based company working together to advance and improve the global aquaculture industry. With this increased funding, bringing its total investment to €25 million, and the expanded partnership between the two companies, Silverstrand's director, Kelvin Chiu, will take a seat on Aqua-Spark's advisory board. In addition, Patti Chu, Silverstrand's chief impact officer, will join the investment committee.
With more than 300 investors in more than 25 countries, since its creation in 2013 Aqua-Spark has increased the amount under management to more than €450 million. The fund's portfolio consists of small and medium-sized companies such as, among others, eFishery, Calysta, Oceano Fresco or Icelandic Matorka, with whose CEO, Christo Du Plessis, we had the opportunity to speak shortly after his appointment. The company chooses each of its investments for their potential to generate financial returns and, at the same time, to trigger positive environmental and social results.