Hatch, an aquaculture technology accelerator, closed its first fund at $8.4 million which is solely focused on investing in technology that benefits the sustainability of the aquaculture sector.
“We’re first time fund manager -- this means that people ask you if you even know how to raise a fund, how to identify good companies, how to transact in those companies," Hatch Managing Partner Carsten Krome said.
"We knew we know that but to bring this across and to get people’s trust is another issue."
The accelerator will pour the capital raised into its own portfolio as well as recruit a fourth cohort for its accelerator program, which will accept applications as of this month.
Hatch is the second venture capital next to Netherland-based Aqua-Spark completely dedicated to aquaculture.
Brian Wynn, the former CEO of vertically integrated shrimp farmer Rubicon Resources, joined the board after selling his own business to High Liner in 2017.
Founding Partner of Astanor Ventures Eric Archambeau also hopped on the advisory board as well as the Founder of the investment advisor Kaizen Reserve Kai Sato.
Hatch is located in Hawaii, Bergen and Singapore and is currently filling two senior positions in Bergen and another one in Ireland, where its European team is deepening cooperations with the Irish Seafood Board.