Sustainable Ocean Fund investing $5M in offshore aquaculture
November 20, 2018
By Aquaculture North America Staff
La-Paz, Mexico-based marine fish producer The Kampachi Company announced on Monday that it is closing an equity investment from asset manager Althelia Funds’ Sustainable Ocean Fund (SOF).
The fund is managed by Mirova Natural Capital dedicated to making pioneering impact investments that align ocean resource development and conservation goals.
The SOF’s $5-million investment in The Kampachi Company’s operation in La Paz, Baja California Sur, Mexico will help fund sustainable offshore production of King Kampachi, a sashimi-quality marine fish that will be marketed to restaurants and retailers in Mexico, the United States, Japan, and Europe.
This is the first investment funded by the SOF, which is the new Althelia Funds vehicle investing in scalable, impact-aligned businesses to drive improvement in ocean ecosystems.
“We’re delighted to welcome Althelia on board,” said Jorge Schmidt, chief executive officer of The Kampachi Company. “The Sustainable Ocean Fund promotes the highest standards of environmental and social responsibility, and as part of this process we underwent a rigorous review of our operating principles and practices. This investment will materially further The Kampachi Company’s ability to produce a consistent supply of healthful, high-quality King Kampachi with no discernable impact on ocean ecosystems.”
Neil Anthony Sims, co-founder and chief scientific officer of The Kampachi Company noted that both Conservation International and the Environmental Defense Fund are engaged as strategic partners for SOF, to ensure the fund will direct investments into projects that uphold the highest environmental standards. Both organizations recognize that properly sited, well-managed offshore aquaculture can help conserve wild ocean resources, and provide healthy seafood for a growing global population.
“This investment by Althelia validates the scalable, environmentally-sound attributes of offshore kampachi production,” Sims said.
With this investment, The Kampachi Company closed their Series A financing and is moving forward with production of King Kampachi, in offshore grow-out pens currently stocked with around 200,000 fish. The first harvest of 4-6 lb. King Kampachi will be in late March 2019.
