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The cousins behind the new global marine investment fund

The cousins who gave birth to the idea behind Holberg Triton: Hogne Tyssøy (left), a partner at Holbergfondene, and Øystein Lie, Professor and Dean at NMBU. Photographed at the North Atlantic Seafood Forum in Bergen. Picture: Finn Eirik Larsen.

The cousins who gave birth to the idea behind Holberg Triton: Hogne Tyssøy (left), a partner at Holbergfondene, and Øystein Lie, Professor and Dean at NMBU. Photographed at the North Atlantic Seafood Forum in Bergen. Picture: Finn Eirik Larsen.

The new blue investment fund, launched in february 2015 by Holbergfondene, was initiated by three cousins - one fund manager, one professor and one fishing vessel owner. Starting off with NOK 100 million investment and aiming at a multi billion portifolio, the fund is named “Holberg Triton” after the son of the Greek sea god Poseidon.

Check out Triton's presentation here!

-  The initiative was very well received among investors, fund manager Jann Molnes says to Blue Frontier Magazine.

Targeting 30 listed companies

The fund will focus on businesses in both wild catch and aquaculture.  The market research analysis shows 220 public listed companies globally in the marine sector, companies that Triton monitors closely for possible investment.

-  The first investments will target a selection of 30 of these companies, Molnes says. The official launch of the fund takes place in Bergen on March 4th 2015 during North Atlantic Seafood Forum.

Jann Molberg, Holberg Triton. Picture: Finn Eirik Larsen

Jann Molnes, Holberg Triton. Picture: Finn Eirik Larsen

The new specialized marine investment fund will also look to innovative activities and entrepreneurships in the marine related biotechnology sector. New innovations are expected to either eventually become sustainable companies floated on the stock exchange or being implemented in or acquired by existing players. According to Jann Molnes the Triton fund will be well positioned, located close to the strong Norwegian academic and business environment focusing on marine bioeconomy.

 

A pioneering initiative

The blue fund is welcomed by the aquaculture sector, not least among enterpreneurs, innovators and academia.  

The Norwegian professor Øystein Lie, Dean at NMBU (Norwegian University of Life Sciences), has for decades been engaged in marine innovation and entrepreneurship along with his academic career. He is founder of GenoMar AS and the marine innovation network MarLife, founding member of Biomarine International Cluster Association (BICA) together with founder and Biomarine chair, Pierre Erwes. Lie recently chaired a nationwide bioeconomy report, BioVerdi.

He advocates closer links and dialogue between academia, business and finance to advance the new paradigm shift: from the “fossile economy” to bioeconomy not least the sector with the largest potentials, the marine one.

-  The Triton initiative is a pioneering one since there is not too many, if any, risk capital instruments around of this kind, format and with marine focus. It is also very timely since it is necessary to speed up the investment needs in this very important sector, addressing the most important challenges and opportunities of mankind. Hence, it will act as an instigator to channel more funding to the sector, says professor Lie.

 

Cousins

He was a central initiator of the idea to establish such a fund. His cousin and partner of Holbergfondene, Hogne Tyssøy, together with

Peder O. Lie, Liegruppen.

Peder O. Lie, Liegruppen.

colleagues, responded immediately positively to professor Lie’s marine scenario presentation at Holberg HQ offices a couple of years ago. Chairman of Liegruppen, Peder Lie, another cousin of Professor Lie, was also very supportive to assist in conceptualizing the fund initiative.