Private equity impact investors Ocean 14 Capital Fund has signed a deal to purchase a controlling stake in SyAqua from aquaculture investment company Golden Springs Group (GSG).
SyAqua is a leader in genetics and early nutrition to the shrimp hatchery market, with more than 20 years of research and development and with a footprint in the US, Thailand, Malaysia and Indonesia. Its historical focus has been in Asia.
Ocean 14 Capital Fund’s debut investment is looking to capitalise on the intensification and sustainability trends in the shrimp farming sector. Despite significant progress in the recent past, the industry is still overshadowed by inefficient resource use of unsustainable practices.
“SyAqua‘s technologies in genetics and nutrition have a powerful impact on sustainable intensification of the shrimp industry by reducing waste per unit of production and the ensuing externalities,” said George Duffield, founding partner and chair of impact for the fund’s investment adviser, Ocean 14 Capital Ltd.
“We have ambitious plans for SyAqua and are tremendously happy for the fund to be partnering up with Golden Springs Group and the SyAqua company’s management team,” said Francisco Saraiva Gomes, founding partner and chief investment officer, Ocean 14 Capital Ltd.
“SyAqua is in growth mode, quickly increasing its performance by leveraging its superior market presence and tech platforms. Over time we plan to build SyAqua into a platform for sustainable shrimp technologies and we hope that the Fund will invest significantly more than its initial commitment of $12 million.”
According to SyAqua CEO Ricardo Mello, the company is in “growth mode”, with its operational footprint and technology portfolio being expanded to better serve the needs of its customers.
Ocean 14 Capital Fund 1 SCSp is an impact fund targeting €150 million and focused on driving a sustainable and regenerative blue economy.
