Aqua-Spark has reached a major milestone with the first financial close of its Aqua-Spark Africa fund at $48 million, marking a significant step toward building a sustainable aquaculture industry across Sub-Saharan Africa.
The fund has been created to invest in companies, infrastructure and innovations that support the production of sustainable and affordable fish protein across the region. As Africa’s population continues to grow rapidly, demand for fish is rising while pressure on wild fisheries is increasing. Sustainable aquaculture is therefore emerging as one of the most important solutions for strengthening food systems in the coming decades.
The initiative aims to support entrepreneurs and businesses that are working to expand fish farming and related industries across the aquaculture value chain. Over time, the fund plans to grow into a $250 million investment platform dedicated to supporting the development of sustainable aquaculture across the continent.
Aqua-Spark Africa will be led by Ben Gimson, who previously worked with Gatsby Africa and has extensive experience investing in aquaculture and local industry ecosystems across Africa.
Building the foundation for a sustainable aquaculture industry
Sub-Saharan Africa currently faces a widening protein gap as the region’s population continues to grow faster than anywhere else in the world. Increasing local fish production through sustainable aquaculture can help close this gap while also improving nutrition and food security.
At the same time, the sector has the potential to create significant economic opportunities. Fish farming and its supporting industries can generate jobs, support local livelihoods and strengthen climate resilience in communities that rely on food production.
However, much of Sub-Saharan Africa’s aquaculture sector remains underdeveloped. Unlike more mature aquaculture regions, the continent still lacks several key pieces of infrastructure needed for large-scale growth. These include hatcheries, reliable feed supply chains, cold storage systems, financing networks and technical expertise.
The Aqua-Spark Africa fund has been designed specifically to address these challenges. Structured as an open-ended investment fund, it will invest across the entire aquaculture value chain. This includes fish farming operations, feed production, genetics, technology providers and distribution networks.
A particular focus will be placed on developing farming hubs that can help stimulate local industry development and attract further investment into the sector.
According to Ben Gimson, Africa represents one of the most promising regions for aquaculture growth globally. He noted that the continent has the natural resources, entrepreneurial talent and growing market demand needed to build a thriving industry. What has been missing, he said, is coordinated infrastructure and catalytic capital that can help accelerate development.
The fund aims to fill this gap by investing not only in individual companies but also in the broader ecosystem required to support a sustainable aquaculture industry over the long term.
Global experience and strong investor backing
The Aqua-Spark Africa fund builds on more than a decade of experience from Aqua-Spark, which is widely regarded as the world’s largest investment fund dedicated to sustainable aquaculture.
Through its global investments, the firm supports the responsible farming of aquatic organisms such as fish, crustaceans, molluscs and algae. These species are produced in a range of environments including ponds, lakes, rivers, oceans and land-based farming systems.
Globally, Aqua-Spark is building a portfolio of 50 to 60 mature companies that work together to transform the aquaculture sector into one that is sustainable, healthy and affordable while also generating strong financial returns for investors.
The Africa-focused fund has already attracted strong support from several major investors. Cornerstone co-investors include KfW, Germany’s leading development bank; EDFI Management Company, which manages the European Union funded Agriculture Financing Initiative (AgriFI); Gatsby Africa and the Livelihood Impact Fund.
This backing provides the financial foundation needed to begin scaling investments across the region.
Mike Velings, co-founder and CEO of Aqua-Spark, said that the aquaculture sector has evolved rapidly over the past decade with major advances in technology, data and sustainable farming practices. These developments now provide the knowledge and tools needed to help build a thriving aquaculture industry in Africa.
With its global network of partners and more than ten years of industry experience, Aqua-Spark believes it is well positioned to help build the ecosystem needed for aquaculture to succeed across the continent.
With the first $48 million secured and plans to expand to $250 million over the next decade, Aqua-Spark Africa is now preparing to support the next generation of entrepreneurs and businesses working to grow sustainable aquaculture in Sub-Saharan Africa.
