Private equity firm invests in shrimp genetics and nutrition group
Ocean 14 Capital Fund signed a deal to purchase a controlling stake in SyAqua, a group that supplies genetics and early nutrition for the shrimp hatchery market.
June 14, 2022
Ocean 14 Capital Fund, a private equity impact investment, signed a deal to purchase a controlling stake in SyAqua from Golden Springs Group (GSG). SyAqua is a leader in genetics and early nutrition for the shrimp hatchery market, with a historical focus in Asia.
Ocean 14 Capital Fund’s debut investment capitalizes on the intensification and sustainability trends in the shrimp farming industry. Despite significant progress in the recent past, the industry is still overshadowed by inefficient resource use of unsustainable practices. “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,” said George Duffield, founding partner and chair of impact, for the Fund’s investment adviser, Ocean 14 Capital Ltd.
“We have ambitious plans for SyAqua and are tremendously happy for the fund to be partnering up with Golden Springs Group and the SyAqua company’s management team,” said Francisco Saraiva Gomes, founding partner and chief investment officer, Ocean 14 Capital Ltd. “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”.
“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 capture multiple growth opportunities. It’s a good period for SyAqua now. We are in growth mode, we are already expanding our operational footprint and technology portfolio to better serve the needs of our customers,” said Ricardo Mello, chief executive officer, SyAqua.
“It is with great enthusiasm and expectations that we witness Ocean 14 Capital’s first investment, as part of one of their key investment verticals to transform the shrimp industry into a more sustainable business. We are delighted to be a cornerstone investor of this vital and innovative fund,” said Claus Gregersen, CEO, Chr Augustinus Fabrikker.