responsAbility invests USD 40 million in eFishery to promote aquaculture innovation and sustainability

July 20233 min readSustainable FoodAgriculture, Impact, Emerging Markets, Private EquityPrivate Equity

Zurich/Bandung, 11. July 2023 – The global leading impact pioneer responsAbility invests USD 40 million from the Sustainable Food - Asia II fund in eFishery, an Indonesia-based aquaculture company. This strategic investment aims to fuel eFishery’s expansion and contribute to the transformation of the aquaculture industry by empowering smallholder farmers and promoting sustainable practices.

With its Internet of Things (IoT) smart feeder device, eFishery utilizes farm data to optimize feeding, fish health, and water quality while reducing waste, a significant challenge in aquaculture. By leveraging data and technology, eFishery provides smallholder fish farmers with significant improvements of farm-level productivity, direct access to markets, financing, and enhanced farming practices. eFishery also plans to scale its chemical and antibiotic-free shrimp export business, strengthening the connection between farmers and end consumers through fully traceable and sustainable production.

eFishery's vision for integrated and sustainable fisheries

Gibran Huzaifah, co-founder and CEO of eFishery, said: “Aquaculture is the fastest growing part of the global fisheries sector, which is facing rapidly increasing demand. With the support of our investors, we look forward to transforming the entire industry and bringing together smallholder fish farmers into an eFishery-organized collective that integrates across the entire aquaculture value chain.” The funds raised will be used to expand eFishery's farming community, with a goal of engaging the majority of aquaculture ponds in Indonesia by 2025 and increasing the feed input and fresh output volumes transacted through the eFishery platform.

Empowering Indonesian farmers and boosting the economy

Through its digital cooperative for fish and shrimp farmers, eFishery has already empowered tens of thousands Indonesian farmers by improving their livelihoods and providing them with technology, market access, financing, and quality feed. The company's initiatives have led to a positive impact on the Indonesian Gross Domestic Product (GDP) in the Aquaculture Sector, addressing food scarcity and reducing social and economic inequality.

responsAbility joins forces with eFishery to drive industry transformation

Rik Vyverman, Global Head of Sustainable Food Equity at responsAbility, said: "eFishery's innovative business model disrupts the entire value chain which makes it a very attractive investment which aligns with our goal of helping to achieve the Sustainable Development Goals (SDGs) and fostering a more sustainable and equitable Agrifood industry. We look forward to supporting eFishery as it continues to change the industry and create a lasting positive impact."

Capturing growth opportunities in Asia's sustainable food sector

The Sustainable Food in Asia strategy made a USD 173 million first close in January 2023 and will focus on taking significant minority stakes in growth companies across South Asia and Southeast Asia. The final close is targeted at USD 300 - 400 million. With Asia poised to more than double its total spending on food to over USD 8 trillion by 2030, the strategy aim is to invest in the agrifood industry in the region which is undergoing a dramatic change driven by the 1.2 billion predominantly young, urbanized consumers joining the upper middle class income category. The increase in demand for food but more importantly food that’s safe, healthy, and convenient, is driving change across the entire value chain.

About responsAbility Investments AG responsAbility Investments AG is a leading impact asset manager specializing in private market investments across three investment themes to directly contribute to the United Nations Sustainable Development Goals (SDGs): Financial Inclusion, to finance the growth of Micro & SMEs; Climate Finance, to contribute to a net zero pathway; and Sustainable Food, to sustainably feed an ever-growing population. All responsAbility investment solutions target specific measurable impact alongside market returns.

Since its inception in 2003, responsAbility has deployed over USD 15.4 billion in impact investments. With over 270 employees collaborating across eight offices, as of 31 December 2023 the company manages USD 4.8 billion in assets across approximately 280 portfolio companies in 69 countries. Since 2022 responsAbility is part of M&G plc, the international savings, and investments business, and contributes to enhancing M&G’s capabilities in impact investing.

About eFishery Founded in 2013, eFishery is the largest digital cooperative for fish and shrimp farmers. eFishery disrupts traditional fish and shrimp farming methods and provides cutting-edge solutions in the aquaculture ecosystem by offering an integrated platform that provides fish and shrimp farmers with improved access to technology, markets, feed, and financing. eFishery aims to build an aquaculture ecosystem in Indonesia that is not only profitable but sustainable for the farmers and all stakeholders.

eFishery has empowered 70 thousand Indonesian fish and shrimp farmers by improving their livelihoods. The company has helped farmers by speeding up the crop cycle up to 74 days through feeder technology, providing access for 15 thousand farmers to financial institutions worth more than USD 40 million, helping farmers by facilitating them to sell USD 149 million of fish and shrimp crops and giving farmers access to quality feed worth USD 134 million. eFishery has given an impact of 1.55% to the Indonesian Gross Domestic Product (GDP) in the Aquaculture Sector, based on study done by the Demography Department, Economic Faculty, University of Indonesia. The study also reveals 76.5% farmers are optimistic about a better business opportunity in the future through partnership with eFishery.

The company has three main objectives: to address food scarcity through aquaculture; to overcome fundamental problems in the aquaculture industry by providing affordable technology; and to reduce social and economic inequality through an inclusive digital economy.


Richard Rogers
responsAbility Investments
+41 44 403 2151

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