Blue Revolution Fund Raises €93 Million to Invest in Sustainable Aquaculture

The Blue Revolution Fund (BRF), a collaboration between the venture capital firm Hatch Blue and the non-profit organization The Nature Conservancy (TNC), has closed with commitments totaling €93 million (US$100.2 million). This fund, aimed at fostering sustainable aquaculture, has surpassed its original target of €75 million and will invest in early-stage aquaculture companies. The focus is on improving ocean health, addressing climate change, and creating jobs in coastal communities.

BRF’s investment strategy targets a range of innovative aquaculture technologies, including next-generation fish farming, regenerative seaweed and bivalve farming, and alternative seafood. The fund has already invested in six portfolio companies, including CageEye, a Norwegian firm improving aquaculture feeding efficiency with echo-sounding technology, and DeNova, a Canadian company producing single-cell protein as a sustainable alternative to traditional feed ingredients.

As aquaculture continues to grow, now providing more seafood than wild fisheries, the sector is projected to produce 109 million metric tons by 2030, a 32% increase from 2018 levels. This expansion is seen as crucial, given that nearly 90% of marine fish stocks are either overfished or fully exploited. With this in mind, BRF seeks to support technologies and practices that will help meet growing food demand while easing environmental pressures.

The fund’s structure integrates both financial and environmental goals. Hatch Blue, as the fund’s manager, leverages its expertise in aquaculture and sustainable food systems, while TNC ensures that conservation outcomes are built into each investment. The goal is to attract private capital to accelerate sustainable aquaculture solutions, which TNC believes can offer a low-carbon food source while contributing to the health of marine ecosystems.

BRF anticipates investing in an additional nine companies in the coming months and plans to release guidance on conservation diligence and impact reporting for aquaculture investments. This will provide other investors with resources to identify opportunities that deliver both financial returns and environmental benefits.