- Ocean 14 Capital has created MITO via the merger of Societa Agricola Ecotapes Italia, Delta Futuro Societa Agricola and Ecotapes Zeeland
- MITO produces more than 300 million clam seed juveniles and has a growth plan to increase its operational capacity to two billion seeds annually
- Ocean 14 Capital Fund is a private equity impact investment fund focused on the United Nations’ Sustainable Development Goal 14: Life Below Water
Ocean 14 Capital has created clam breeder MITO after the acquisition and merger of Societa Agricola Ecotapes Italia, Delta Futuro Societa Agricola and Ecotapes Zeeland.
The fund has also agreed to invest €5 million to scale and grow the business. MITO breeds and hatches clams and produces more than 300 million clam seed juveniles ready for stocking for the Italian market. The company plans to increase its operational capacity to two billion seeds annually over the next few years.
Ocean 14 Capital Fund is a private equity impact investment fund focused on the United Nations’ Sustainable Development Goal 14: Life Below Water. The creation and subsequent investment in MITO will see Ocean 14 create another scalable, regenerative and sustainable protein platform within the blue economy, the firm said.
“It is incredibly exciting to begin this journey with MITO — benefiting from and simultaneously accelerating the great and highly impactful work that the founders have developed for years,” said Katherine Elbert, investment analyst and co-investment lead for MITO at Ocean 14 Capital, the fund’s investment advisor. “We couldn’t have arranged a better starting investment for the fund’s European bivalves strategy. Similar to what happened to oysters, a strong supply of viable hatchery seed is key for the sustainable development of the industry.”
“With a total aquaculture production of more than 30,000 tonnes, the clam industry in Europe is one of the best opportunities for the fund to invest in,” said Francisco Saraiva Gomes, founding partner and chief investment officer of the fund’s investment advisor.
Ocean 14 Capital is a London-based private equity firm that invests in new technologies and ocean-related industries. It is a partnership between the founders of Vedra Partners, Pontos Aqua and Blue Marine Foundation.
MITO is based in Chioggia. Societa Agricola Ecotapes Italia is based in Venice and Delta Futuro Societa Agricola in Ferrara. Ecotapes Zeeland is based in Yerseke in the Netherlands.