Singapore-based impact investor Silverstrand Capital has made an additional €15 million investment in Netherlands-based aquaculture investment fund Aqua-Spark, bringing its total investment to €25 million.
Silverstrand is focused on advancing regenerative food systems and natural climate solutions. It first invested in Aqua-Spark in 2020, joining Aqua-Spark’s network of experts, organisations, institutions and portfolio companies working together to advance and improve the global aquaculture industry.
With this increased funding and expanding partnership, Silverstrand’s Principal Kelvin Chiu will take a seat on Aqua-Spark’s advisory board while Patti Chu, Silverstrand’s Head of Impact, will join the investment committee.
The largest sustainable aquaculture fund globally, with over 300 investors in over 25 countries, Aqua-Spark has grown the amount under their management (AUM) to over €450 million since its inception in 2013. The fund’s portfolio comprises companies such as eFishery and Calysta.
With the help of these companies, Aqua-Spark has reduced the use of wild resources in feed by the equivalent of 58.6 million fish, upcycled 49.3 million kg of industry waste, and improved the traceability for 40.4 million kg of food.
“With the global population having passed 8 billion people, smarter and more efficient methods for growing nutrient-rich food are needed,” said Amy Novogratz and Mike Velings, co-founders of Aqua-Spark.
“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.
“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 honoured to work with them and to keep advancing a commercial aquaculture system that puts our planet and its population’s health first.”
Chiu said that Silverstrand is “very much aligned” with the values and mission of Aqua-Spark.
“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,”
“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,” he said.
