Sustainability-focused equity firm casts eye on shrimp genetics company
Private equity firm Ocean 14 Capital Fund has signed a deal to purchase the controlling share of SyAqua, a leading shrimp genetics and nutrition company. The funding company intends to make an initial investment of US$12 million in the shrimp breeder.
“SyAqua is in growth mode, quickly increasing its performance by leveraging its superior market presence and tech platforms. Over time we plan to build SyAqua into a platform for sustainable shrimp technologies and we hope that the fund will invest significantly more than its initial commitment of $12 million,” said Francisco Saraiva Gomes, founding partner and chief investment officer, Ocean 14.
The fund company is focused on the United Nations’ Sustainable Development Goal 14 (SDG 14): Life Below Water. The initiative calls for cutting marine pollution, protecting marine and coastal ecosystems by ending overfishing.
SyAqua is one of the largest providers of shrimp genetics and early nutrition. The company has more than 20 years of research and development and with a footprint in the United States, Thailand, Malaysia and Indonesia.
The shrimp industry remains saddled with inefficient resource use of unsustainable practices, according to George Duffield, founding partner and chair of impact, for the fund’s investment adviser, Ocean 14 Capital Ltd.
“SyAqua‘s technologies in genetics and nutrition have a powerful impact on sustainable intensification of the shrimp industry by reducing waste per unit of production and the ensuing externalities,” he said.
“We are excited to be partnering with Ocean 14 Capital. They have already shown an incredible commitment to our team and business. Their knowledge, access and ability to execute, will help us to capture multiple growth opportunities,” said Ricardo Mello, chief executive officer of SyAqua. “It’s a good period for SyAqua now. We are on growth mode we are already expanding our operational footprint and technology portfolio to better serve the needs of our customer.”