Deal-by-Deal Co-investment Programme Invests €8 Million in SEAentia

Banco Português de Fomento (BPF) has completed an €8 million investment in SEAentia under the Deal-by-Deal Co-investment Programme, financed by the Capitalisation and Resilience Fund as part of the Recovery and Resilience Plan (PRR). The operation was carried out in partnership with Indico Capital Partners, bringing the total investment amount to €11.5 million.

Founded in 2017, SEAentia is a Portuguese startup specialising in sustainable aquaculture, with a focus on the production of high-quality meagre (corvina). The company uses innovative technologies, such as the Recirculating Aquaculture System (RAS), combined with scientific research, to ensure an efficient, ecological, and economically viable production process.

Since 2021, it has been running a pilot project in Peniche, supported by the MAR2020 program. This initiative allowed SEAentia to test and optimize the farming of meagre in a controlled environment, identify risks, and build the capacity of its technical team. Currently, the existing facility is dedicated to Research and Development (R&D) activities, in collaboration with national and international entities.

With strong ambitions to lead commercial meagre production using RAS, SEAentia is committed to sustainability, animal welfare, and innovation as the cornerstones of its growth.

The investment aims to support the construction of the world’s first industrial facility dedicated to the sustainable production of meagre using RAS in Peniche. It will ensure the necessary funding for the initial phases of operations until production reaches commercial scale, while also strengthening R&D in the sustainable aquaculture sector.

Teresa Fiúza, Chief Investment Officer at BPF, emphasized, "Banco Português de Fomento is pleased to announce its support for SEAentia, a Portuguese startup that is redefining the future of sustainable aquaculture. This investment enables the construction of the world’s first industrial facility dedicated to RAS-based meagre production, positioning Portugal at the forefront of innovation in the global blue economy. With a clear export-oriented strategy and a premium market positioning, this project contributes to enhancing national competitiveness, while also driving a strategic sector for sustainability and food security. It aligns with the principles of a greener, more resilient economy based on innovation, technology, and long-term value creation.”

According to João Rito, Founding Partner of SEAentia, "It is with great pride that SEAentia formalizes today a strategic partnership that has been in the making for a long time. Signing a financing agreement of €8M with Banco Português de Fomento, following the earlier €3.5M agreement with Indico Capital Partners in February this year, and adding the €12.5M in Mar2030 funding approved last year, brings the total funding round to €24M. This will fund the construction and operation of a new commercial pilot unit for meagre production (the world’s first at RAS scale) to be located at Docapesca's premises in Peniche. The strategic collaboration between all entities involved with SEAentia (Docapesca, Peniche City Council, Smart Ocean, IPMA, Polytechnic of Leiria, among others) demonstrates that Portugal is leading in business innovation for the Blue Economy.”

Stephan de Moraes, Managing General Partner at Indico Capital Partners, stated, "At Indico, we believe that the future of food inevitably involves aquaculture, and projects like SEAentia prove that it is possible to combine innovation, scale, and exemplary sustainability. The entry of BPF is not just capital—it’s a vote of confidence in the vision of high-quality, globally impactful blue food production that Portugal and the SEAentia team are capable of leading.”