EIF supports Blue Revolution Fund in boosting sustainable aquaculture investments backed by the InvestEU programme

    Date: 07 March 2024
  • €20 million under InvestEU to support the Fund and boost early-stage aquaculture enterprises, addressing market deficiencies and fostering innovation and sustainability.
  • Blue Revolution Fund will contribute to the restoration of the marine ecosystem.
  • The fund’s strategy is in line with the Green Deal focusing on climate and environmental impact.

The European Investment Fund (EIF) has announced at BlueInvest its support to the venture capital fund Blue Revolution Fund, providing €20 million under InvestEU and investing in early-stage aquaculture enterprises, driving innovation and sustainability in the sector.

The fund is managed by Hatch Blue, with an investing team with extensive experience in the aquaculture industry. The fund intends to contribute to the restoration of the marine ecosystem with a focus on conservation and sustainability.

The Blue Revolution Fund aims to address market deficiencies and gaps in the aquaculture sector by bringing capital to support the commercial production of finfish, shellfish, and seaweed while introducing sustainable technologies and alternative seafood protein solutions. The fund's strategy aligns with the goals of the Green Deal and the strategic objectives of the European Union.

Commenting on the investment, Marjut Falkstedt, Chief Executive of the EIF stated, "We are very glad to support the Blue Revolution Fund in its mission to drive innovation and sustainability in the aquaculture sector, with the backing of the InvestEU programme. This investment is in full alignment with the EU's commitment to fostering a blue economy that promotes economic growth while protecting our marine ecosystems."

Georg Baunach, Managing Partner and Co-founder of Hatch Blue, remarked, "We are thrilled to welcome the EIF as an investor in the Blue Revolution Fund. It is encouraging to see the EIF's commitment to the blue economy, a commitment that resonates deeply with our own mission to foster the growth of a sustainable aquaculture industry. With the fund’s second close now completed, we are exceptionally well-positioned to support entrepreneurs in our sector. As a specialized fund, our approach is to collaborate closely with teams where we can offer significant value. The expertise and extensive network within our investment team, the broader Hatch Blue group, and our extended ecosystem play a critical role in providing such value."

The EU Commissioner for the Environment, Oceans and Fisheries, Virginijus Sinkevičius also stated: “Today marks another significant milestone in supporting innovative aquaculture solutions across Europe. I am glad that the ‘InvestEU Blue Economy fund’, launched in 2022 with the support of the European Maritime, Fisheries and Aquaculture Fund, continues its successful progress through the ‘Blue Revolution Fund’ with a strong focus on restoring ocean ecosystems. Blending EU public funds with private capital is crucial in developing and scaling up innovative technologies related to the ocean.”

InvestEU's participation in the Blue Revolution Fund highlights the European Union's dedication to supporting impactful investments in the Blue economy. By combining financial resources and expertise, this collaboration aims to accelerate the development of sustainable aquaculture farming practices, address climate change, and contribute to the restoration of the marine ecosystem.

Background information

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized enterprises (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, the EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth and employment.

Hatch Blue is a global specialist firm dedicated to advancing farmed and alternative seafood. Its goal is to drive innovation in the seafood industry, support impactful businesses, and foster a sustainable transition. With a team of 32, it operates across four key areas: venture investing, consulting, startup programs, and publishing. Spanning locations in Ireland, Norway,the United States, Singapore, and Germany, Hatch Blue is committed to creating a climate-smart, truly sustainable, and equitable seafood future.

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for EU policy priorities like the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme has three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the projects of the implementing partners, increasing their risk-bearing capacity and thus mobilising at least €372 billion in additional investment.

The InvestEU Blue economy Fund is a dedicated equity fund for the blue economy (i.e. economic activities based on or related to the oceans, seas and coasts) under the InvestEU Equity product within the InvestEU Fund. It is made possible by a top-up contribution from the European Maritime, Fisheries and Aquaculture Fund matched with additional InvestEU resources and EIF/EIB own funds. It is expected to mobilise up to 500 million of additional EU finance until 2027, to be made available through intermediaries such as venture capital funds to innovative and sustainable blue economy SMEs and start-ups. The initiative supports research, development, demonstration, upscaling, commercialisation and scaling of clean technologies or environmental solutions.

Press contacts 

Serena Sertore, s.sertore@eib.org, tel.: +352 4379 70859
Website: www.eif.org — Media Office +352 4379 21000; press@eib.org 

Georg Baunach, georg@hatch.blue, tel.: +491725463249
Website: www.hatch.blue

Flora Matthaes, flora.matthaes@ec.europa.eu, tel.: +32 2 298 39 51
Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.


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