December 19, 2022

Singapore-based impact investor makes additional investment in Aqua-Spark

Singapore-based impact investor Silverstrand Capital announced an additional €15 million (US$15.9 million) investment in Netherlands-based aquaculture investment fund Aqua-Spark, bringing its total investment to €25 million (US$26.5 million), AsiaTechDaily reported late last month.

Silverstrand first invested in Aqua-Spark in 2020, joining the latter's large 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.

Aqua-Spark'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 kilogramme of industry waste and improved the traceability for 40.4 million kilogramme of food.

"With the global population having passed eight 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 honored to work with them and to keep advancing a commercial aquaculture system that puts our planet and its population's health first."

"As the global demand for protein continues to grow, our ocean's health and marine biodiversity are increasingly under threat," said Kelvin Chiu. "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. Silverstrand is very much aligned with their values and mission and proud to be long-term partners of Aqua-Spark."

- AsiaTechDaily