Singapore impact investor Silverstrand deepens investment in aquaculture fund Aqua-Spark

Singapore-based impact investor Silverstrand Capital has further signalled its commitment to ocean and marine causes, with an additional investment in Netherlands-based aquaculture investment fund Aqua-Spark.

Silverstrand invested 15 million euros (S$21.4 million) in Aqua-Spark on Wednesday (Nov 30), bringing its total investment to 25 million euros. Silverstrand’s principal, Kelvin Chiu, will also take a seat on Aqua-Spark’s advisory board, while Silverstrand’s head of Impact, Patti Chu, will join the investment committee.

Explaining the move, Chiu said: “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.

“Aqua-Spark is a leader in sustainable aquaculture with a proven track record (and has) a strong team with deep expertise ... transforming (its) vision of a better food system into reality. Silverstrand is very much aligned with their values and mission,” he added.

Silverstrand, a single-family office, has an impact investing mandate focused on combating the biodiversity crisis – particularly, advancing regenerative food systems and natural climate solutions. Its biodiversity accelerator programme, The Biodiversity Accelerator+, counts the Monetary Authority of Singapore and Temasek Foundation among its supporters.

Silverstrand first invested in Aqua-Spark in 2020. The latter’s assets under management (AUM) amount to over 450 million euros, and it has more than 300 investors in over 25 countries.

A NEWSLETTER FOR YOU

Friday, 12.30 pm

ESG Insights

An exclusive weekly report on the latest environmental, social and governance issues.

Sign Up

Aqua-Spark’s portfolio is made up of companies such as Indonesian startup eFishery and multinational biotechnology firm Calysta.

With their help, Aqua-Spark said, it has reduced the use of wild resources in feed by the equivalent of 58.6 million fish, while having upcycled 49.3 million kg of industry waste, and improved the traceability for 40.4 million kg of food.

Commenting on this latest investment, Aqua-Spark’s co-founders Amy Novogratz and Mike Velings said it would help advance a commercial aquaculture system that puts the well-being of the planet and its population first.

“With the global population having passed eight billion people, smarter and more efficient methods for growing nutrient-rich food are needed. Fish supply 17 per cent of the world’s protein and, by 2030, the planet is expected to eat nearly 20 per cent more fish. With our ocean approaching the brink of species collapse, this increase must come from sustainable sources – namely aquaculture.”