Nysnø invests in Bluefront’s fund for sustainable seafood

Seafood is a climate-friendly source of protein that is necessary to meet the global demand for food. However, marine resources are scarce and according to the UN, more than a third of the fish stocks are being overfished. Sustainable aquaculture is crucial to feed a growing population.

Bluefront invests in companies that offer products, services and technology that contribute to a more sustainable seafood value chain. This includes digitalization and automation, hygiene systems, increased quality and traceability, improved fish health and welfare, as well as innovative production methods. The fund will mainly invest in Europe with a special focus on small and medium-sized Nordic and Norwegian companies. The fund's first investment was in Redox, a technology company which develops new environmentally friendly technologies to improve fish welfare and biosecurity in the aquaculture industry.

“The seafood industry is facing major and exciting changes. The world needs proteins with a lower environmental and climate footprint, and seafood innovation can create more sustainable aquaculture with reduced greenhouse gas emissions. Bluefront represents a unique opportunity for Nysnø Climate Investments to enter an exciting industry in growth,” says Lars Hvam, Investment Manager in Nysnø Climate Investments.

Norway, and the Nordics, are at the forefront of technology development within the aquaculture industry. Nysnø invests in Bluefront to contribute towards strengthening Norway's leading position in the global value chain. At the same time, it will increase access to capital for Norwegian companies contributing to a more sustainable food system.

“Our starting point is that companies that contribute towards making the seafood industry more sustainable are also the businesses with the biggest growth potential.  We see great opportunities in the entire value and have a fantastic team of advisers. We are looking forward to working closely with investors such as Nysnø to realize shared industrial and financial ambitions, says Kjetil Haga, Founding Partner at Bluefront.

Bluefront is the only independent private equity fund in the Nordics that focuses exclusively on the seafood industry. The founding partners Kjetil Haga and Simen Landmark have extensive industry experience, and have partnered with several industry advisors who contribute with unique industry knowledge and experience, and a wide network, in addition to investing in the fund. The team of advisors includes former Mowi CEO Alf Helge Aarskog, Jan Sverre Røsstad, Arne Trondsen and Aino Olaisen.

Nysnø invests NOK 75 million, contributing to bring the total assets under management close to half a billion NOK. Havfonn, Klaveness Marine, Clipper and T.D. Veen are among the other investors in Bluefront Capital I.

Contacts  

Kjetil Haga, Founding Partner in Bluefront Equity, kh@bluefrontequity.com ,  +47  920 86 186

Lars Hvam, Investment Manager in Nysnø Climate Investments, lars.hvam@nysnoinvest.no, +47 986 843 72 

About Nysnø Climate Investments 

Established in 2017, Nysnø Climate Investments (Nysnø) is a Norwegian sovereign climate investor targeting companies and funds with profitable and smart solutions to climate change. With 2.4 billion NOK in assets under management, Nysnø invests in clean energy, digital and enabling technologies, resource efficiency, sustainable demand, and the circular economy. Nysnø is based in Stavanger and owned by the Norwegian Ministry of Trade, Industry & Fisheries. For more information, visit www.nysnoinvest.no/en  

About Bluefront

Bluefront is the only independent, Nordic private equity firm that focuses solely on the seafood industry. The fund will invest in small and medium-sized seafood companies that can make the future seafood industry more sustainable. Bluefront was established by Kjetil Haga and Simen Landmark, and is headquartered in Oslo. For more information, see www.bluefrontequity.com