Blue Earth Capital partners with Captain Fresh to drive sustainability across global seafood value chains. 10 March 2026 Baar-Zug, Switzerland, March 10, 2026 Blue Earth Capital ("BlueEarth"), the specialist global impact investor, announces a EUR 27.0 million sustainability-linked financing to Infifresh Foods Private Limited ("Captain Fresh"), a vertically integrated technology-enabled seafood supply chain platform headquartered in India. Globally, around 15% of seafood is lost or wasted, driven by largely inefficient processing and discards from wild-capture harvesting.[18] This challenge is particularly acute in emerging markets and will be increasingly relevant with the continued rise in seafood consumption. Aquaculture and wild-capture fisheries play a critical role in economic growth and job creation, with 400 to 600 million livelihoods being dependent on the sector, particularly in emerging markets.[19] The USD 600 billion global seafood distribution industry has traditionally faced operational complexities and a lack of standardization, arising from sub-scale distribution focused on single species and constrained access to sourcing, markets, and capital. Founded in 2020 by Utham Gowda, Captain Fresh seeks to build scaled, multi-species seafood brands with value-chain integration, underpinned by digital traceability to verify the sustainability of its products. The company's technology platform ("Captain Fresh Digital Operating System") and vertical integration aim to reduce seafood waste and improve efficiency, enhancing margins while driving transparency and sustainability across the highly complex and fragmented seafood value chain. Sustainable aquaculture and responsible wild-capture fisheries represent an important solution to rising global protein demand, contributing to food security, improved nutrition, and greater resilience in global food systems. With various packaged seafood brands operating across key markets in the United States, Europe, and the UAE, Captain Fresh is poised to accelerate the scalability of seafood as a more resource-efficient protein source with a lower carbon footprint. The company's scaling is expected to drive meaningful job creation through the expansion of its own manufacturing as well as indirect employment across partner processors, while integrating smallholder fishermen into global supply chains and improving their income stability through innovative technology solutions and market access. BlueEarth's capital infusion will support the expansion of Captain Fresh's distribution capabilities globally. The sustainability and impact-linked characteristics of the facility work to ensure full alignment with BlueEarth's dual mission of generating compelling social and environmental impact alongside financial returns. Amy Wang, Head of Private Credit at BlueEarth, comments: "The investment in Captain Fresh reflects our continued commitment to the sustainable food and agriculture sector. Through our partnership, we look forward to promoting sustainably sourced seafood, reducing waste across the value chain, and driving job creation while meeting growing global demand for traceable seafood." Utham Gowda, CMD & Group CEO, Captain Fresh, added: "We've always viewed doing things right as a core value multiplier, not an ESG checklist. By bringing true source-to-shelf traceability to the seafood industry, we are transforming a historically wasteful supply chain into one that actively protects our waters and uplifts communities whose lives depend on it. BlueEarth's financing is a strong endorsement of our business model. It introduces a European pool of sustainability-linked impact capital into play. This partnership also gives us access to their wider network, allowing us to accelerate our operations and impact simultaneously." Setuka Partners served as the exclusive advisor to Captain Fresh for this transaction. Note to editors About Blue Earth Capital: Blue Earth Capital is a global, independent, specialist impact investor, headquartered in Switzerland, with operations in New York, London, and Konstanz. Blue Earth Capital seeks to address the world's most pressing social and environmental challenges by delivering measurable impact alongside aiming for attractive and market-rate financial returns. The company operates dedicated private equity, private credit, and fund solutions as well as separately managed accounts. Blue Earth Capital is owned by the Blue Earth Foundation, a Stiftung (charity/trust) registered in Switzerland that focuses on deep impact to support initiatives and business ventures to help deliver a more equitable and sustainable future. For more information, please visit https://blueearth.capital/. About Captain Fresh: Founded in 2020 and headquartered in India, Captain Fresh is a vertically integrated, multi-species, multi-geography seafood conglomerate, whose products are sold under its house of premium seafood brands including CenSea, Koral, Senecrus, ChopServe, Ocean Edge and Ocean Garden. The company's B2B customer base primarily includes distributors (including food service providers) and retailers. During FY 2025, the Captain Fresh group served almost 1300 customers across 30+ countries, including the U.S., several countries in Europe, the U.A.E., and India, transacting in more than 90 species of seafood (including shrimp, salmon, tuna, and lobster), with its sourcing network spanning 650+ suppliers across 35 countries. Being a digital supply chain orchestrator, the Captain Fresh Digital Operating System (CF DOS) is a proprietary technology platform purpose-built for the seafood ecosystem, consolidating fragmented supply networks and driving product traceability across the value chain. The vertical software stack allows it to aggregate supply and processing capacity in a largely unorganised and fragmented market and efficiently deliver products to end customers through established distribution channels. The company's vision, "More Protein for More People, Sustainably," reflects its aspiration to transform the seafood industry by delivering high-quality, traceable and reliable seafood to customers. This announcement is subject to the investment and marketing restrictions set out at blueearth.capital/terms. 10 December 2015 PG Impact Investments, a global impact investment firm, has completed its acquisition of a minority stake of US-based Runa LLC ("Runa",... 15 May 2016 PG Impact Investments, a global impact investment firm, made its first investment in the affordable housing space on behalf of its...

Bengaluru-based seafood supply chain startup Captain Fresh has secured €27 million (₹288 crore) in debt financing from Swiss impact investor Blue Earth Capital. The funds, channelled through parent company Infifresh Foods, will expand the company's delivery and distribution network across international markets. Captain Fresh connects over 650 seafood suppliers across 35 countries with roughly 1,300 business customers in more than 30 countries, dealing in over 90 seafood species. The financing comes as Captain Fresh has filed draft IPO documents with Sebi via confidential route, reportedly seeking to raise ₹1,700 crore. The offering could value the company between $1.3 billion and $1.5 billion, with Axis Capital and Bank of America serving as bankers. The company recently acquired Frime, a Spanish sustainable tuna processor controlling over 20% of Europe's yellowfin tuna market.

Captain Fresh secures rs 288 crore debt from Blue Earth Capital. The company will use the new funding to grow its in-house manufacturing, expand global distribution, and hire more staff. IPO-bound B2B seafood startup Captain Fresh has secured ₹290 Cr (€27 Mn) in debt financing from Swiss investment firm Blue Earth Capital. The company will use the new funding to grow its in-house manufacturing, expand global distribution, and hire more staff. "BlueEarth's financing is a strong endorsement of our business model. It introduces a European pool of sustainability-linked impact capital into play. This partnership also gives us access to their wider network, allowing us to accelerate our operations and impact simultaneously," Captain Fresh's group CEO Utham Gowda said. Founded in 2020 by Utham Gowda, Captain Fresh runs a tech-enabled platform that connects seafood suppliers, processors, and distributors across multiple markets. The company sells seafood in the US, Europe, UAE, and India, mainly to distributors, food service providers, and retailers. It serves around 1,300 customers in over 30 countries and sources from more than 650 suppliers across 35 countries, covering 90+ seafood species, including shrimp, salmon, tuna, and lobster. Captain Fresh uses its own software to manage sourcing, processing, and logistics in a seafood supply chain that is often fragmented and dominated by small suppliers. Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES: Latest Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates. Startup Stories: Discover inspiring tales of startups overcoming challenges, and achieving success. You May Also like