S2G Ventures has invested in five different companies as part of the inaugural investments for its $100 million Oceans & Seafood fund. The point of the new fund is to support companies and entrepreneurs building new systems, solutions, and processes geared towards the “blue economy.”
The World Bank defines the blue economy as “the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystems.” In other words, it calls for a more sustainable approach to doing business when it comes to our oceans and the life within them. Multiple areas are touched by the blue economy, including maritime transport, renewable energy, fisheries, and waste management strategies. Even tourism could play a role.
Via a statement, S2G Managing Director Kate Danaher called sustainably managed ocean ecosystems “a pillar of global environmental recovery, a driver of economic growth, and a foundation for food security and human health.” The firm says its Oceans & Seafood fund is the largest in North America. It will invest in companies helping to “build marine ecosystem resilience, de-risk the ocean supply chain, maximize the value of natural resources and support animal and human health.”
Thus far, companies in S2G’s group of inaugural investments are:
ReelData. Based in Canada, the company makes software it says can increase land-based aquaculture’s profitability, sustainability, and scalability. Initial products include AI-informed feeding systems, biomass estimation and health/stress analytics.
ViAqua Therapeutics. The Israel-based biotech producer makes orally administered RNA-based treatments for shrimp to improve their resistance to disease. S2G says the company has the potential to apply its technology across “all aquaculture species and platforms where cost-effective RNA production and novel delivery systems (such as nano and micro encapsulation) are needed.”
Moleaer. U.S.-based Moleaer has nanobubble tech that can treat water systems, including removing harmful pathogens and increasing recoveries of natural resources.
Additionally, S2G has invested in two undisclosed companies. One is an “ocean surveillance company” that will track dark vessels and illegal maritime activity. The other is a “fishmeal and oil technology company” based in the U.S. that holds proprietary zero-waste fishmeal technology that could be applied to other parts of protein production in fisheries.
The focus of the overall fund will be divided into three areas: ecosystem resillience, resource optimization, and consumer centricity. S2G said it believes focusing on these areas will improve ocean health while still “generating above average financial returns.”