Bluefront Equity has NOK 1 billion earmarked for sustainable seafood investments.
Following substantial interest from Norwegian and international sustainability investors, Bluefront Equity has closed the books of its first fund, Bluefront Capital I, earlier than planned.
Bluefront Equity invests in companies with products, services and technologies contributing towards a more sustainable seafood value chain. This includes digitalisation and automation, hygiene systems, increased quality and traceability, improved fish health and welfare, and innovative production methods.
“The feedback on our first fund has been almost overwhelmingly positive. We have plenty of available capital and will now dedicate all our time to investments. Thus, we are closing the books six month ahead of original schedule,” said Kjetil Haga, partner at Bluefront Equity.
Investor interest
Among the latest investors to join the first fund are the American asset manager Commonfund and Cubera’s new impact fund.
Other investors in Bluefront Capital I are the Bergesen family’s Havfonn, Nysnø Klimainvesteringer, the Anker family, Klaveness Marine, Steensland-gruppen in addition to aquaculture industry seniors Alf-Helge Aarskog, Aino Olaisen, Jan Sverre Røsstad and Bjørn Apeland.
“The combination of being a pure-play seafood investor and a certified sustainability fund in line with the EU’s comprehensive taxonomy guidelines, a so-called Article 8 fund, has proven to be popular among groups of investors who want profitable and responsible investments,” said Simen Landmark, partner at Bluefront Equity.
In May this year, Bluefront Equity made its first investment when the fund became the majority owner of fast-growing technology company Redox AS. Redox is an ozone and oxygen specialist that develops environmentally friendly technologies which improve fish welfare and biosecurity for the aquaculture industry, plus reduces chemical discharges.
“We have a strong dealflow and expect to announce new investments during the next 6 months,” added Haga.
