Islandsbanki owned lsÍandssjóðir has established the fund IS Haf fjárðar slhf. which invests in sea-related activities on a broad basis. The fund is fully funded and has already started operations. The largest investors in the fund are Icelandic pension funds together with Brim hf. and Útgerðarfélagi Reykjavíkur hf. which is a ballast investor in the fund.
Iceland plays a leading role globally in the fishing industry, both in terms of technological development related to the industry, sustainability and profitability of fishing, which is explained, among other things, by investment and innovation in fishing and processing over the past decades. The full utilization of marine products in Iceland is unique, and great opportunities lie in the research and knowledge behind innovation in marine biotechnology.
Access to investments in the fishing industry has historically been limited. The fund opens access for pension funds and other investors to rapid growth in sea-related activities. The fund has increased impact as the fund’s investors will be invited to co-invest alongside the fund in individual investment projects. The composition of the fund’s investment team, investment board and its shareholder group ensures that the analysis of investment opportunities, acquisition and processing are carried out diligently.
Investments will be distributed among five categories within sea-related activities, from fishing and aquaculture to high technology, infrastructure development, marketing and marine biotechnology.
The fund’s investment board is made up of professionals from the industry with a broad background and extensive experience in the operation of fisheries, aquaculture, marine-related technology and sustainability issues. Investments will be made mostly in unregistered companies in Iceland or companies with connections to Iceland. The investment period of the fund is 4 years and the total lifetime of the fund is 9-11 years.
The fund strives to be an impact investor and support the growth and development of the companies that will be invested in, and the fund places a strong emphasis on having a measurable impact on factors related to the environment, social factors and governance (UFS factors) of the companies.
There is a consulting agreement between Íslandssjóða, the fund’s operator, and Útgerðarfélag Reykjavíkur, which deals with the acquisition of investment opportunities.
Source: https://www.islandsbanki.is/is/frett/nytt-hreyfiafl-i-haftengdum-fjarfestingum