Silverstrand Capital pushes another EUR 15 million into Aqua-Spark

Published on
November 30, 2022
Silverstrand Capital Principal Kelvin Chiu.

Silverstrand Capital has placed another EUR 15 million (USD 15.6 million) under the management of Netherlands-based aquaculture investment fund Aqua-Spark, with its total investment now worth EUR 25 million (USD 26 million).

The Singapore-based investment firm, which has an impact investing mandate focused on combating the global biodiversity crisis, first invested in Aqua-Spark in 2020. Following Silverstrand’s increased investment, the firm’s founder and principal, Kelvin Chiu, will assume a set on Aqua-Spark’s advisory board and Silverstrand Head of Impact Patty Chiu will gain a seat on Aqua-Spark’s investment committee.

“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,” Chiu said in a press release. “Aqua-Spark is a leader in sustainable aquaculture with a proven track record. [Aqua-Spark Founders] Amy [Novogratz] and Mike [Velings] 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.”

Aqua-Spark, a fund investing in sustainable aquaculture projects, has EUR 450 million (USD 467 million) under management and has made more than a dozen investments in aquaculture operations, including companies like eFishery, and has also established an Africa Fund with an initial USD 50 million (EUR 50.1 million) of seed money. Through its investments, it claims to have reduced the use of wild resources in feed by the equivalent of 58.6 million fish, upcycled 49.3 million kilograms of industry waste, and improved the traceability for 40.4 million kilos of food.

“With the global population having passed 8 billion people, smarter and more efficient methods for growing nutrient-rich food are needed,” Novogratz and Velings said in a joint statement. “Fish supply 17 percent of the world’s protein, and by 2030 the planet is expected to eat nearly 20 percent 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.”

Photo courtesy of Silverstrand Capital  

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