Utrecht, the Netherlands-based Aqua-Spark announced it has hired Lissy Smit, the head of credit approvals at the Rabobank Group, to serve as the fund’s CEO.
Aqua-Spark, a fund investing in sustainable aquaculture projects, has made a number of 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.
Smit’s new role will see her continuing to increase the value of Aqua-Spark’s portfolio while “maximizing impact and industry transformation,” Aqua-Spark said. The company currently has over EUR 300 million (USD 299.5 million) under management, the fund said, and its goal is to increase the value of the portfolio to EUR 3 billion to EUR 5 billion (USD 2.99 billion to USD 4.98 billion) in assets by 2030.
"Lissy Smit's expertise and track record as a change-maker within Rabobank, one of the largest financiers of the seafood industry, is what we feel Aqua-Spark needs to professionalize further and to expand to this next level," Aqua-Spark Co-Founders Mike Velings and Amy Novogratz said. "Lissy has successfully built and led global teams within Rabobank, working in Hong Kong, New York, London, and the Netherlands while maintaining a very entrepreneurial spirit within the bank's existing system. We've been impressed by her leadership style and ability to create open environments that facilitate change and development to allow ideas, people, teams, and companies to flourish."
During her tenure at Rabobank, Smit set the global strategic agenda for lending to large corporations, as well as leading projects like redesigning and digitalizing the core credit approval processes, according to Aqua-Spark. A head of credit approvals, she was also responsible for decisions at the bank, and served on the company’s investment committee – meaning she’s already familiar with some of Aqua-Spark’s portfolio companies, the fund said.
"I'm very excited and grateful for the opportunity to lead Aqua-Spark's amazingly talented team," Smit said. "Developing a sustainable food value chain is a passion of mine, so I look forward to supporting and growing innovative companies that provide solutions to some of the biggest challenges in aquaculture while creating value for investors."
Smit will start in the role on 1 September.
Photo courtesy of Lissy Smit/LinkedIn
