Photo: Ocean 14 Capital Fund

Ocean 14 Capital Fund has partnered with aquaManager to develop a new technology platform for the aquaculture industry

Ocean 14 Capital Fund, a private equity impact investment fund focused on the United Nations’ Sustainable Development Goal 14 (SDG 14): Life Below Water, has entered into a minority investment agreement with aquaManager to build a software, data and automation platform that will turbocharge the sustainability agenda in the aquaculture industry.

“Together, we are building an innovative ecosystem that will turbocharge sustainability, efficiency, and predictability, setting a new standard for the future of aquaculture,” says Kostas Seferis, founder of aquaManager.

Demand for ‘blue foods’ is expected to double by 2050, from 2015 levels, and aquaculture is expected to play a key role in providing aquatic sourced proteins. Aquaculture will continue to drive growth in global fish production by accounting for 106 million metric tonnes in 2030, a rise of 32% from 2020 levels, according to the UN’s Food and Agriculture Organisation.

From an investment perspective, the global aquaculture market size was valued at $264 billion in 2021 and is expected to reach $401 billion by 2030, growing at a CAGR of 5.37% as the consumption of a protein-rich diet drives increasing spending and adoption of cutting-edge technologies, such as machine learning, the Internet of Things (IoT), artificial intelligence (AI), automatic feeders, and acoustic telemetry tracking systems by aquaculture farm owners. ​

“We have been working with Mr. Seferis and his team for more than two years now. We feel a real privilege and a sense of responsibility that we were able to establish a partnership with the leading aquaculture software company in the Industry. This is one of the most exciting growth plans we have been working on since the fund inception,” says Piers Lakin, Principal at Ocean 14 Capital, and the deal lead.

AquaManager is a technology provider for software, IoT and AI in aquaculture, providing tailored solutions for diverse aquaculture operations, encompassing cage and pond farming, Recirculating Aquaculture Systems (RAS) in the Mediterranean, sub-Saharan Africa, the Middle East and Latin America, and to multiple hatcheries around the world.

Over the past few years, aquaManager has expanded its portfolio to include IoT and smart equipment to complement its software solutions, supporting all stages of fish aquaculture production, from hatchery to harvest, empowering producers globally with the tools and insights essential for sustainable growth.

“Our mission is to ensure that aquaculture can meet the rising demand for quality food in a rapidly growing world. We aim to harness the power of data and technology in a practical and pragmatic way to drive sustainability in the sector and make a positive impact on our planet. We have maintained close communication with Ocean 14 Capital Fund for a long time and are extremely delighted to find that we share the same vision, values and ethics. Together, we’ll shape the future of aquaculture,” continues aquaManager’s Seferis.

“We are exceedingly happy with this partnership and investments. AquaManager is the leading software company that provides the greatest operational value to the global industry. AI is commoditising analytics and making reliable, high-quality data, the new sought-after commodity. With aquaManager, we continue to reinforce and develop our thesis for a comprehensive investment strategy  in data, sensing, analytics and data-driven decision making throughout the blue economy. Data and automation through aquaManager, enables the aquaculture industry to drive convergence faster and adopt sustainable, well-informed management practices,” adds Francisco Saraiva Gomes, founding partner and chief investment officer at Ocean 14 Capital.

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