Portuguese aquaculture startup raises 17 million euros

According to the Portugal Business News, sustainable fish faming company Oceano Fresco just completed a new 17 million euros funding round with Dutch fund Aqua-Spark, BlueCrow Capital, Indico Capital Partners and Deal by Deal, a fund managed by Banco Português de Fomento (BPF).
Portuguese startup Oceano Fresco has already completed several funding rounds including a series B funding round of 6.1 million euros, co-led by Semapa group and by Aqua-Spark in November 2021. Oceano Fresco also completed a second funding round of 11.5 million euros at the end of June 2024, led by BPF and Indico.

Funding Portuguese startups can become especially successful when the operation is managed by a legal advisory firm that specializes in private equity and venture capital for startups.

The success of this new funding operation was due to the legal advice provided by SRS Legal, with a team led by Paulo Bandeira, partner in the Corporate & Finance department, with Solange Fernandes and Clara Coelho.

The new funding round completed by Oceano Fresco is especially significant since it attracted both Portuguese and foreign capital, in a complex transaction that involved the subscription of different investor instruments, according to Paulo Bandeira, who also highlighted the importance of successful funding rounds for Portuguese startups dedicated to the area of ​​sustainability.

Oceano Fresco was recognized as an "EU Blue Champion" by the European Investment Bank (EIB) and European Commission on 13 May 2024, that is part of the EU Missions to Restore our Ocean and Waters and the recognition highlights the company’s commitment to sustainable aquaculture and innovation in the blue economy.