Aqua-Spark, a Netherlands-based aquaculture investment firm, has held the final close of its Africa-focused fund at EUR 41.7 million (approximately $48 million). The fund targets investments across Sub-Saharan Africa’s aquaculture value chain, backing infrastructure, technology, and supply chain companies working to scale sustainable fish farming.

Launched in 2021, the fund is backed by development finance and impact investors including KfW, AgriFI, and Gatsby Africa. Capital deployment is already underway, with investments in Lake Harvest Group, Aquarech, and Chicoa Fish Farm.

Aqua-Spark plans to grow the vehicle into a $250 million platform over the next decade as demand for sustainable protein sources increases across the region.

Africa’s aquaculture sector has attracted growing investor attention in recent years as the continent faces a widening gap between fish demand and domestic supply. The African Development Bank has previously estimated that Africa imports over $5 billion worth of fish annually, a figure that sustainable aquaculture could help reduce while creating jobs and improving food security.