MICROCAPITAL BRIEF: ResponsAbility Invests $40m in Equity in eFishery of Indonesia for Technology Helping Fish, Shrimp Farmers with Feeding, Water Quality, Documenting Sustainable Practices, Market Linkages

Switzerland-based responsAbility Investments recently paid USD 40 million for an equity stake of undisclosed size in eFishery, a company assisting Indonesian fish and shrimp farmers with automatic feeders and mobile apps. The money is sourced from the responsAbility fund Sustainable Food Asia II, which has raised USD 173 million as of 2023.

Founded in 2013, eFishery reports having partnered with 70,000 cultivators, including separate apps for fish and shrimp farmers, eFisheryKu and eFarm. To connect buyers with sellers, the firm offers a third app called eFresh. The first two of these apps provide services such as loans to buy feed, connections to input sellers, and support in maintaining water quality and preventing disease. The firm also helps shrimp farmers document that they have raised their shrimp in a “chemical and antibiotic-free” environment. As of 2023, the firm reports having facilitated fish and shrimp sales totaling IDR 2.2 trillion (USD 145 million).

Established in 2003 and headquartered in Zurich, responsAbility deploys investments in low- and middle-income countries with the aim of increasing financial inclusion, reducing the effects of climate change and supporting agriculture deemed sustainable. As of August 2023, the firm had USD 4.8 billion in private debt and equity investments under management in 80 countries.

By Aarya Dhru, Research Associate

Sources and Additional Resources

Press release from responsAbility
https://www.responsability.com/en/press-releases/responsability-invests-usd-40-million-in-efishery-to-promote-aquaculture-innovation-and-sustainability

Homepage of eFishery
https://efishery.com/

Google Play profile of eFishery app for fish farmers
https://play.google.com/store/apps/details?id=com.efishery.stg_membership.twa

Google Play profile of eFarm app for shrimp farmers
https://play.google.com/store/apps/details?id=com.efishery.farmerapps

Google Play profile of eFresh app for buyers
https://play.google.com/store/apps/details?id=com.efishery.efresh_twa

Sustainable Food Asia II webpage
https://www.responsability.com/en/investment-products/sustainable-food-asia-ii-slp

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