Kenyan tilapia producer Victory Farms, East Africa’s largest fish farmer, has raised $5 million (€4.6 million) to help it expand into Rwanda, Tanzania and the Democratic Republic of Congo (DRC).
The funding round was led by Bain Capital Managing Director Ed Brakeman, and Hans den Bieman, the former CEO of Mowi and director of Sealand Aquaculture, reports AgFunderNews. Additional investors include a contributor to the Forbes Technology Council and existing investor DOB Equity.
Sealand Aquaculture is the company behind a new land-based king salmon farming project in Chile, while Bain Capital has a substantial stake in the global seafood sector, with investments in Chilean salmon farmer Nova Austral as well as being former owners of Norwegian salmon feed company Ewos (now owned by Cargill) and UK seafood processing giant Young's Seafood (now owned by Canadian Group Sofina Foods).
