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This substantial commitment marks the second close of the fund, which Hatch said will further support innovative solutions and contribute to the growth and sustainability of the global aquaculture industry.
Georg Baunach, Managing Partner and Co-Founder of Hatch Blue, said: “We are very pleased to have achieved our funding target of €75 million and expect to exceed it in the coming months. Although the closing took longer than expected, we are We have achieved our goals. “We are now in a very good position to support entrepreneurs in our sector. As a specialist fund, our approach is to work closely with teams who can deliver significant value. is.”
“The expertise and extensive network within our investment team, the extensive HatchBlue Group, and our expanded ecosystem have helped us garner the confidence of our LPs, especially compared to our first close. “We are pleased to see increased commitment from institutional investors, as their involvement is critical to fostering a strong impact investing ecosystem,” he added.
famous investor
Blue Revolution Fund, which welcomes the European Investment Fund (EIF), Irish Strategic Investment Fund (ISIF) and Germany’s Lentenbank as notable investors, is a collaborative effort to drive positive change in the aquaculture industry. It works.
Commenting on the investment, Marjut Valkstedt, CEO of EIF, said: “With the support of the InvestEU programme, we are committed to our mission of driving innovation and sustainability in the aquaculture sector. We are very pleased to support the Blue Revolution Fund.” This investment is fully in line with the EU’s commitment to fostering a blue economy that fosters economic growth while protecting marine ecosystems. ”
Cathal Fitzgerald, senior investment director for food and agriculture at ISIF, said: “Supporting the development of Ireland’s marine resources is a key focus of ISIF’s Food and Agriculture Strategy, with many Irish companies developing innovative ways to improve the sustainable use of marine resources.” Resources. ”
“Hatch’s latest commitment to the Blue Revolution Fund will advance the opportunity to harness the potential of these businesses while creating new job opportunities in coastal communities. We look forward to working with Hatch. I’m looking forward to it,” he added.
first investment
Blue Revolution Fund has already made significant progress in its mission with initial investments in innovative aquaculture ventures.
- New School Foods: A Canadian-based food technology company focused on developing new plant-based seafood alternatives. New School Food’s unique technology delivers animal-like structure and a raw-to-cooked cooking experience.
- DeNova: A fully integrated single-cell protein production company based in Canada. DeNova aims to replace soy protein and fishmeal in aquafeed and address critical environmental challenges in the aquaculture sector.
- Wholechain: A US-based company that provides traceability solutions based on a SaaS business model. Wholechain’s solutions accommodate multiple protein and non-protein products and provide comprehensive traceability across various supply chains.
- CageEye (FKA Bluegrove): A Norwegian company focused on improving feeding processes in aquaculture. CageEye uses echo measurement equipment to identify the feeding behavior of caged fish, especially salmon, in real time.
- ChucaoTec: An Irish-Chilean company that manufactures nanobubble oxygenation technology for the salmon and shrimp farming sectors. Chucaotech’s innovative technology will revolutionize oxygenation practices in aquaculture, improving sustainability and efficiency.
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