Bluefront closes second seafood investment fund after raising $100m
Seafood sector investor Bluefront Equity has announced the final close of its second impact fund after securing investments from three major players.
The European Investment Fund (EIF) has invested approximately US $35 million (£26m / NOK 357m) in the Bluefront Capital II fund, while Denmark-based Novo Holdings – which owns salmon ova supplier Benchmark Genetics – and UK-based Esmée Fairbairn Foundation have committed undisclosed amounts.
In total, Bluefront Capital II has secured investments in excess of US $100m.
“Seventy percent of the total amount comes from international investors. They view the seafood value chain as a key enabler to solve the global demand for healthy and sustainable proteins and consider the blue economy to be an attractive investment opportunity,” said Kjetil Haga, chief executive of Norway-based Bluefront.
Earlier this year, Bluefront announced an investment from Builders Vision, an impact platform founded by Lukas Walton, a member of the family who made a fortune from the Walmart retail chain.
Repeat investments
The largest investors in Bluefront’s first fund have also committed to participate in Bluefront Capital II. They include Norwegian investors Havfonn, the Steensland group, 3S Invest, Klaveness Marine, TD Veen, Cubera, and more.
“Our first fund has performed strongly, which has been the catalyst for numerous repeat investments in our second fund. We are proud of the many new and returning quality investors that have put their trust in us,” said Simen Landmark, chief investment officer at Bluefront.
Bluefront Capital II has already made its first three investments:
- Cryogenetics, the leading provider of technology and services for the preservation of aquatic genes for the aquaculture industry.
- Horizon Software (previously FiiZK Digital), a company that drives impact for the seafood industry through digital solutions that optimise biological conditions and production for fish farmers.
- Piscada, which delivers software for process control and -analytics to the fish farming industry.
