Oceana invests in seafood innovation

Photo: A presented dish of Oo-Nee Sea Ranch’s sustainably harvested sea urchin

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The Oceana Group has invested US$1.5 million in the US-based Hatch Accelerator Fund II.

The fund invests in early-stage companies developing innovative seafood systems, processes and technologies along the value chain, targeting strong financial returns while promoting environmentally sustainable practices. 

The USD 12 million fund will invest in about 30 portfolio companies and has a global investment mandate with a strategic US focus and a 10-year term.

The investment is in line with the fish and food group’s strategic commitment to drive growth, diversification and sustainable value creation for the benefit of all stakeholders.

Neville Brink, Oceana CEO, says while the investment is modest, it targets long-term sustainable returns and gives Oceana access to international expertise, a network of companies at the forefront of seafood innovation and a pipeline of potential investment opportunities and partnerships.

“This investment provides us with valuable insights into seafood innovation, enabling Oceana to capitalise on emerging trends and technologies at the forefront of the industry.” 

To date, Hatch Blue has funded more than 70 companies across three funds, all operating within nutrition, supply chain, genetics, technology, health, alternative seafood, novel production systems, regenerative aquaculture, marine biotech and blue-carbon subsectors.

Carsten Krome, Hatch Blue Co-Founder says, "We are always extremely happy to be able to include strategic investors such as Oceana Group to our group of Limited Partners as they provide valuable know-how, network and partnership opportunities to our portfolio. We are honoured to be a part of Oceana’s growth and diversification strategy."

The Group has enjoyed a collaborative relationship with the Hatch Blue team since 2020, with it providing specialist consultancy services to Oceana on a project basis. 

About Oceana

The Oceana Group is a leading international fish and food company with a strong, experienced management team, and businesses that operate across the full value-chain which includes catching or procuring, processing, distributing, and selling. It is Africa’s largest fishing company with a history dating back over 105 years. It has been listed on the Johannesburg Stock Exchange (JSE) for over 75 years, as well as being listed on the Namibian (NSX) and A2X stock exchanges. 

Oceana has more than 3 000 employees based across South Africa, Namibia, and the United States. The Group operates 41 vessels and eight production facilities across three countries on two continents, selling products to customers in 39 countries.

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