Sustainable seafood investor Bluefront nets new investor
Sustainable aquaculture investor Bluefront Equity has announced a new cash injection from Builders Vision, a philanthropic, investment, and advocacy organisation founded by WalMart retail heir Lukas Walton.
The investment of the undisclosed amount will support Bluefront’s second fund, Bluefront Capital II, which is focused on advancing solutions that promote long-term sustainability in the global seafood industry.
The company’s first fund, Bluefront Capital I, closed at US $62 million in 2021, and Bluefront Capital II has already exceeded this amount in commitments, Bluefront said in a press release. It will continue fundraising until the summer of 2025.
Growing portfolio
Bluefront Capital II has already made its first two investments: Cryogenetics, described as the leading provider of technology and services for the preservation of aquatic genes for the aquaculture industry and for safeguarding biological diversity; and Horizon Software (previously FiiZK Digital), a company that drives impact for the seafood industry through digital solutions that optimise biological conditions and production for fish farmers.
Builders Vision is also working with Bluefront to form an Impact Advisory Council (IAC), a strategic initiative aimed at enhancing the firm's impact management and measurement (IMM) efforts.
Builders Vision seeks to drive systems change by deploying various types of capital to seed and scale sustainable market solutions. Oceans are one of the organisation’s key focus areas, alongside food and agriculture, and energy. The organisation took part in a $6.2 million Series A fundraise by Faroese seaweed farmer Ocean Rainforest in 2023, and it is an investment partner in SalmoGen, a company formed by North American aquaculture businesses and a Native American tribe. It plans to create a new supply of salmon eggs for United States fish farmers from 2027.
Deep expertise
Norway-based Bluefront was founded by its chief executive Kjetil Haga and chief investment officer Simen Landmark. Its portfolio includes Spillfree, which provides an AI-backed solution for optimising fish feeding; Seaqloud, a data aggregator and infrastructure software solution provider for fish farming; and Redox, which offers eco-friendly disinfection and biosecurity for salmon producers.
“We’re impressed with the work Bluefront is doing, and Kjetil and Simen’s deep expertise in aquaculture, combined with their strong network, puts Bluefront in a fantastic position for success,” said James Lindsay, investment director at Builders Vision.
“Shifting the value chains of major industries with practical, scalable solutions - like those in Bluefront’s portfolio - is essential for building a sustainable blue economy that can economically thrive while having an outsized positive impact. By investing in companies tackling critical challenges such as fish welfare, ocean health, and sustainability, they’re improving efficiency, reducing mortality, and addressing issues like lice, disease, and waste - all while driving strong returns and supporting long-term ocean resilience.”
