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The Blue Revolution Fund has wrapped up its $93 million round of investments, and it's putting its money where its mouth is.
The fund, a collaboration between the Nature Conservancy and Hatch Blue, is investing in more than a dozen early-stage aquaculture ventures that aim to improve ocean health, address the impacts of climate change, and support coastal communities.
"With the right practices and technologies, aquaculture can be a force for good, providing a low-carbon food source while actively supporting ocean health," Robert Jones, director of Global Aquatic Food Systems for the Nature Conservancy, says in a press release.
Aquaculture is the fastest-growing form of food production and is expected to account for more than a third of global seafood production by 2030, with 109 million tons of seafood expected to be produced, up from 75 million tons in 2018, reports the Washington Post.
Hatch Blue, which has experience in alternative seafood and blue carbon investments, will manage the fund.
"The final closing of the BRF above our target of 75 million is a promising sign that the investment community values this approach," Georg Baunach, Hatch Blue's managing partner and co-founder, says in the press release.
The fund plans to invest in around nine companies in the coming months, and Jones says the
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