South African fishing and food processing company The Oceana Group has invested US$1.5 million in the US-based Hatch Accelerator Fund II. The fund invests in early-stage companies developing innovative seafood systems, processes and technologies along the value chain, targeting strong financial returns while promoting environmentally sustainable practices.
The $12 million Hatch Accelerator fund will invest in about 30 portfolio companies and has a global investment mandate with a strategic U.S. focus and a 10-year term.
Neville Brink, Oceana CEO, says while the investment is modest, it targets long-term sustainable returns and gives Oceana access to international expertise, a network of companies at the forefront of seafood innovation and a pipeline of potential investment opportunities and partnerships.
“This investment provides us with valuable insights into seafood innovation, enabling Oceana to capitalise on emerging trends and technologies at the forefront of the industry,” he said.
To date, Hatch Blue has funded more than 70 companies across three funds, all operating within nutrition, supply chain, genetics, technology, health, alternative seafood, novel production systems, regenerative aquaculture, marine biotech and blue-carbon subsectors.
“We are always extremely happy to be able to include strategic investors such as Oceana Group to our group of Limited Partners as they provide valuable know-how, network and partnership opportunities to our portfolio,” said Carsten Krome, Hatch Blue Co-Founder, “We are honoured to be a part of Oceana’s growth and diversification strategy.”
Oceana said it is Africa’s largest fishing company with a history dating back over 105 years. It has been listed on the Johannesburg Stock Exchange (JSE) for over 75 years, as well as being listed on the Namibian (NSX) and A2X stock exchanges.
