The aquaculture VC, HATCH has successfully closed its first $8M Fund at $8.4. The money will be further invested in its own portfolio and to recruit a fourth cohort for their accelerator program, which started accepting applications again on February 12.
The fund is the second VC to raise a fund solely dedicated to aquaculture, after AquaSpark. It was first opened for investment 11 months ago and is solely focused on investing in technology that benefits the sustainability of the aquaculture sector. It managed to attract significant expertise to its board in the form of Rubicon Resources founder and former CEO Brian Wynn, former EWOS CEO Einar Wathne, as well as Silicon Valley entrepreneurs Eric Archambeau and Kai Sato.
At the recent final demo day in Singapore, Managing Partner Dr. Carsten Krome stated that: "It's those first LPs, those first investors that we are grateful for. We're a first-time fund manager. This means that people ask you if you even know how to raise a fund, how to identify good companies, how to transact in those companies. We knew we know that, but to bring this across and to get people's trust is another issue."
The closing of the fund coincides with another expansion of the HATCH team, growing from eight full-time staff members to 10. The company is currently filling two senior positions in Bergen and another one in Ireland, where their Europe team is deepening their cooperation with the Irish Seafood Board, Bord Iascaigh Mhara (BIM), who was a key supporter of their second cohort 2018 in Cork, Ireland.
HATCH continues to maintain its locations in Hawaii, Bergen and Singapore and will shortly announce its new offer for their Global Cohort 2020.
To apply for the Global Cohort 2020, visit https://www.hatch.blue.
