European Investment Fund, Novo Holdings back Bluefront’s second seafood impact fund.
Norway-based seafood investor Bluefront Equity has secured backing from the European Investment Fund (EIF), Denmark-based Novo Holdings, and the UK’s Esmée Fairbairn Foundation as it announces the final close of its second impact fund, Bluefront Capital II.
Bluefront Capital II has raised over $100 million, in line with its target. EIF contributed approximately USD 35 million, while Novo Holdings and Esmée Fairbairn Foundation committed undisclosed amounts. According to Bluefront CEO Kjetil Haga, “70 percent of the total amount comes from international investors. They view the seafood value chain as a key enabler to solve the global demand for healthy and sustainable proteins and consider the blue economy to be an attractive investment opportunity.”
The firm invests in companies developing products, services, software, and technology that promote sustainability across the seafood value chain, with a focus on ocean health, fish welfare, and resource efficiency. Chief Investment Officer Simen Landmark said, “Our first fund has performed strongly, which has been the catalyst for numerous repeat investments in our second fund. We are proud of the many new and returning quality investors that have put their trust in us.”
Bluefront Capital II has already completed its first three investments: Cryogenetics, a provider of technology for preserving aquatic genes; Horizon Software, which optimizes biological conditions and production for fish farmers; and Piscada, a software provider for process control and analytics in aquaculture.
Earlier investors in Bluefront’s first fund, including Norwegian groups Havfonn, the Steensland group, 3S Invest, Klaveness Marine, TD Veen, and Cubera, have also committed to the new fund.
