- Sectors
- Aquaculture & Marine
Sector · Origination
Aquaculture & Marine.
Aquaculture is constrained by water rather than by capital. A licensed marine site is finite, mapped and rationed by the authority that grants it. New licences are issued slowly and rarely in the places where temperature, current and depth are right. IGUAKO Capital treats the site licence as the asset under management and the standing biomass as working stock.
- Exposure
- US$74 million across 4 positions
- Positions
- 4
- Divisions
- 2
- Regions
- 3
Thesis
Water rights do not multiply. Demand for cold-water protein grows, the number of licensed sites does not, and the operators who hold them are usually undercapitalised. IGUAKO Capital funds the equipment, the veterinary programme and the working stock, then takes its return from a harvest that competitors have no site on which to grow.
Private EquityCommercial Finance
OceaniaAsia-PacificEurope
The 4 positions total US$74 million. One holds licensed marine sites together with a hatchery that supplies its own juveniles. One formulates feed for cold-water species. One is a processing and freezing plant sited within a short haul of harvest. The fourth sells containment, net cleaning and inspection services to farms the firm does not own.
Biological risk is the reason most capital stays away, and it is priced accordingly. A single disease event can remove a year of production. The Risk & Valuation Committee requires stocking density limits, independent veterinary oversight and insurance cover on every site before capital is committed. The loss the firm is prepared to accept is written down at entry and tested each quarter.
Themes
- Licensed marine sites in cold and temperate water
- Hatchery genetics and juvenile supply
- Specialist feed formulation for cold-water species
- Processing and freezing capacity close to harvest
- Containment, net cleaning and site services
Case studies
1 in this sector.
Insights