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California Fisheries Fund
Partnering with Private and Institutional InvestorsFood, Farms, Fish and FinanceToronto | May 25, 2013
Agenda
Defining the ProblemInvestment StrategyCFF: A Case StudyNew Opportunities
Fisheries Landscape
• $100 billion global industry• USA: $5.3 billion, 186k jobs• Canada: $1.9 billion, 52k jobs• Pacific region: $710 million,
17k jobs
Sources: World Bank, FAO, NOAA
Overview
Environmental Conservation
Strong Port Communities
Profitable Fishing
Objectives
Owen Hackleman• Young, new entrant
fisherman
• Trap gear for targeting black cod
Loan Portfolio
Bettencourt & Son• CFF loan for trap
fishing gear
• Taking advantage of new gear regulations
Loan Portfolio
Wild Planet• Partnership with
commercial bank
• Build new infrastructure
Loan Portfolio
CFF Structure
Advisory Co
mmittee
• Maintain conservation vision• Evaluate mission alignment of deals
Credit Co
mmittee
• Evaluate borrower creditworthiness• Ensure compliance with loan policy
Governing
Board
• Guide CFF vision• Review + approve all loans
CFF Structure
$3.8 M available
$1.7 M in portfolio
11 borrowers 14 loans
Investors
• Create jobs, Increase tax receipts, Coastal conservation
State of California
• Grant to marine fund, Ultimately invest through PRI loan
Foundation 1
• Grant to “do good,” Promote long-term change model
Foundation 2
• Complement funder’s program objectives, Quick success
Foundation 3
• Capital alone is not enough• Regulatory process = really important• Small target market• High cost of operations
Lessons Learned
New Opportunities
• Tracking/traceability• Better data collection• Gear innovation avoid bycatch and
habitat damage • Improve infrastructure maintain
quality/freshness and good prices • Large seafood buyers should be interested
in preserving sustainable supply chain
