Portuguese sustainable seafood company Oceano Fresco has successfully closed a €17 million funding round aimed at bolstering its sales operations and production capacity. The company specializes in the large-scale sustainable cultivation of clams, avoiding the negative impacts typically associated with other food production methods. Oceano Fresco also contributes positively to the environment by capturing CO2 through clam shells and enhancing biodiversity in its open-sea farms.
In recent years, Oceano Fresco has cultivated two native bivalve species, V. corrugata and R. decussatus, at its state-of-the-art hatchery, the Oceano Fresco Biomarine Center in Nazaré, Portugal. The clams continue their growth in the world’s first open-sea clam farm off the coast of Lagos, Algarve. In the Atlantic Ocean, vertical lanterns protect the clams, offering ideal conditions such as mild temperatures, abundant natural food (microalgae), and constant water renewal, resulting in high-quality clams.
Funding and Partnerships
Indico Capital Partners led the funding round, with participation from BlueCrow, Aqua-Spark, and FdCR, a fund managed by Banco Português de Fomento. Bernardo Carvalho, CEO at Oceano Fresco, emphasized the importance of having knowledgeable partners who share the company’s values and vision. Carvalho noted that these partnerships are crucial as the company aims to become a world leader in regenerative bivalve aquaculture.
“For Oceano Fresco, having knowledgeable partners who share our values and vision is at least as important as raising money per se. With this in mind, we very gladly welcome Indico Capital Partners and Banco Português de Fomento to this adventure, just like we welcome AquaSpark’s and BlueCrow’s renewed support, as we continue on our path to become the world leaders in regenerative bivalve aquaculture,” said Bernardo Carvalho.
Investor Insights
Stephan de Moraes, Managing General Partner at Indico Capital Partners, expressed excitement about supporting Oceano Fresco’s vision of creating a sustainable aquaculture vertical. De Moraes highlighted the growing demand for clams and the importance of sustainable and systematic cultivation methods. Ana Carvalho, CEO of Banco Português de Fomento, mentioned that this investment marks the Fund’s first foray into the Blue economy sector, which could pave the way for further support for this priority sector of the national economy.
“We are thrilled with being part of Oceano Fresco’s vision of creating a new sustainable aquaculture vertical that will add to the global protein increasing demand. The demand for clams specifically far outstrips current supply, and growing them sustainably and systematically makes sense at all levels,” stated Stephan de Moraes.
“This is the Fund’s first investment in the Blue economy, which we believe could start a cycle of BPF support for this priority sector of the national economy,” commented Ana Carvalho.
Oceano Fresco’s recent funding round will significantly support its ambitions in expanding production and improving sales operations. As the company continues to develop its operations, it remains committed to sustainable practices and environmental stewardship. The support from prominent investors underscores the potential and importance of sustainable aquaculture in meeting global food demands.
