The Netherlands-based impact investment firm said the fund is structured as an open-ended vehicle and will channel capital into businesses, infrastructure and technologies needed to expand the region’s aquaculture ecosystem.

The initiative is part of Aqua-Spark’s broader strategy to strengthen fish farming and related industries in Africa, where demand for affordable protein sources is rising alongside rapid population growth.

Sustainable aquaculture is increasingly recognized as a key solution to improve food security, support livelihoods, and build more resilient food systems across the continent.

According to the company, the fund will support enterprises operating across the aquaculture value chain. Investments will target areas such as fish farming, feed production, technology, genetics and distribution networks, as well as the infrastructure required to scale the sector.

The goal is to increase the supply of locally produced, nutritious fish protein while building a stronger, more integrated industry.

Although the fund has reached its first close at $48 million, Aqua-Spark intends to expand the platform significantly over time.

The firm aims to grow the Aqua-Spark Africa initiative into a $250 million investment platform within the next decade, allowing it to deploy capital more broadly across the region.

The fund has attracted backing from several development finance and impact investment institutions.

Among the cornerstone investors are Germany’s development bank KfW and AgriFI, an agricultural financing initiative supported by the European Union.

Other contributors include Gatsby Africa and the Livelihood Impact Fund, both of which focus on supporting sustainable economic development and livelihoods across Africa.

Sub-Saharan Africa has long been recognized as a promising region for aquaculture growth, yet the sector remains underdeveloped relative to other regions.

Industry analysts point to major gaps in infrastructure, such as hatcheries, feed supply systems, cold storage, and financing networks, that limit large-scale expansion.

Aqua-Spark’s Africa-focused fund is designed to address these gaps by providing long-term capital and supporting the foundational systems essential to a sustainable aquaculture industry.