Hatch Blue to Invest in Aquaculture & Marine Biotech Startups With New $10 Million Fund

Hatch Blue‘s early-stage investment vehicle has successfully secured a first close of USD 10 million, as reported by The Fish Site.

Maintaining a strong focus on investing in early-stage aquaculture and alternative seafood startups, Hatch Blue has also decided to expand its investment mandate to include opportunities in the marine biotech and blue carbon fields. This strategic decision aims to broaden the scope of potential partnerships and collaborations within these sectors.

Operating on an accelerator-based investment model, Hatch Accelerator Fund II is leading this initiative. The fund has recently launched its next-generation accelerator program, Crest, which incorporates the best elements of previous programs. Tailored for outcome-minded CEOs and founders, Crest offers a specialized approach to support and nurture early-stage companies in the aquaculture and related fields.

Hatch Blue’s early-stage investment vehicle has already made significant progress, backing 12 companies to date. With the potential to support up to 24 more following full deployment, the portfolio includes companies like Pacific Hybreed, GreenSage Prebiotics, HEDROS Biotechnology, and others.

Caitriona Kelleher, managing director of early-stage investments at Hatch Blue, expressed her enthusiasm for leading the early-stage investment team. She highlighted the accelerator’s role in leveraging Hatch Blue’s resources, including consultancy services, programs, and media platforms, to help portfolio companies reach their full potential efficiently.

Wayne Murphy, co-founder and partner at Hatch Blue, emphasized the importance of attracting and deploying more capital to drive innovation in the sector. With over 50 companies already benefiting from their accelerator strategy, attracting over $120 million in follow-on funding, Hatch Blue is poised to continue its success. The upcoming Crest accelerator program, set to kick off in July 2024, will further enhance their ability to support high-potential scalable businesses within the blue economy.