Bluefront Equity launches new seafood fund

Seafood investor Bluefront Equity has launched its second investment fund by securing US $50m (£40.4m) for sustainable projects.

Interest is thought to be very high, with the launch reported to be attracting considerable international attention both in Norway and elsewhere.

Global impact investment firm Cambridge Associates is one of the lead investors in Bluefront Capital II, following an extensive due diligence on the new fund. Cambridge Associates builds custom portfolios for endowments, foundations, private clients, pension plans, healthcare systems, and other institutional investors, all in pursuit of outperformance and making “positive, real-world impact”. According to Cambridge Associate’s website, the company has US $569bn (£460bn) worth of assets under advisement/management.

Bluefront also said that many of the investors in its first fund launched nearly three years ago are joining the second fund. These include Havfonn, the Steensland group, 3S Invest, Klaveness Marine, TD Veen and Cubera.

Bluefront partner Simen Landmark said this was confirmation of a good and healthy development.

The firm’s other partner, Kjetil Haga, added: “The farming industry needs to further improve biology and fish welfare as well as reduce its climate footprint. Our portfolio companies contribute to solving many of the challenges facing the industry. We are the industry’s leading “impact investor.”

Bluefront says its aim is to create the world’s leading seafood investor supporting company with capital and knowledge to help grow the world’s access to sustainable seafood and by doing so create positive impact.

Based in Norway, Bluefront aims to be actively engaged in driving the food transition. the company states. “We invest in product-, service- and technology companies relevant to scale the aquaculture industry globally,”

“We specialise in supporting small- and medium sized seafood firms holding market leading positions in rapidly growing niches. By making investments and forging partnerships with the companies’ management and founders, we seek to catalyse growth, innovation and impact.”

Bluefront’s first fund, Bluefront Capital I, is the majority owner in several high growth companies aiming to make the seafood value chain more sustainable, for instance the fish welfare specialist Bio Marine and the ocean health monitoring specialist Seacloud.

Its investor base includes institutional investors, family offices, high net worth individuals and industry experts supports our vision to impact the future of the blue economy.