1. The Blue Revolution
Investing in the Sustainable Seafood Value Chain

2. About Iliad Avenues
India-based boutique investment advisory firm
•Private client services and investment banking firm founded
in 2006
•$375 million AUM for HNW and Family Office
•I-banking focuses on cross border M&A advisory, capital
formation, and strategic relationships/JVs
•90 employees in 4 offices in Mumbai, Ahmedabad, Chicago,
and Miami
•Broad sector focus with specific focus on the Sustainable
Seafood Value Chain

3. Blue is the new Green
Mega-Trends Shaping
Aquaculture Development
• Green Movement
• Rising affluence of the global ‘middle class’
• Health and wellness lifestyles
• Growing population
• Global ‘food shortage’
• Social Awareness

4. Crossing the Chasm
Commercial
Aquaculture

5. The Blue Revolution
• Commercial aquaculture is in its
adolescence
• Aquaculture production has been growing
10% annually since the 90’s
• Yet, Aquaculture only produces less than
40% of consumed seafood
• Many experts believe it will be the primary
supply by 2030

6. The Great Migration Forward
• Seafood industry remains primitive
• Fastest growing protein source
• Primarily hunter-gatherer
• Commercial aquaculture is only 40 years old
• Complex protein source
• Highly fragmented
• Loosely organized
• Staggeringly inefficient market
• The industry generates $400 bn annually
• Sustainable development via Aquaculture will dominate
• New technologies, new breeds, growing awareness will
drive growth in decades ahead

7. The Seafood Value Chain
Capture Fishing
$80 bill. Primary Secondary
Processing Processing Distribution
$60 bill. $120 bill. $80 bill.
Aquaculture
$60 bill.
Total Annual Value: $400 billion

8. Teach a man to fish...
• Large, fragmented market
• Globally, seafood volume is 140 mln+ tons
• 170+ million people worldwide work in
the seafood industry
• 6.5 million people work directly in
Aquaculture
• 80% of Aquaculture is produced by small scale farmers
• Aquaculture growing contribution to supply

9. World Seafood Production (1951-2008)

10. Global Opportunity
• In 2008, 143 million tons of seafood were produced, an
average annual global per capita consumption of 17 kg
• For the past 20+ years, production volumes from capture
fisheries have flat-lined at 90 million tons annually
• By 2050, the world population is expected to reach 8.9 billion
from an estimated 6.8 billion
• Should per capita consumption of seafood only remain at
current levels, the world will require an additional 34 million
additional tons
• This deficit will only be covered from sustainable practices,
predominantly Aquaculture

11. Worldwide Consumption
Of Seafood
(kg/capita/year)
???
17.0
12.5 14.5
11.5
1970s 1980s 1990s 2000s 2050s

12. The Sustainable Seafood
Value Chain in Latin America

13. Teach a region to grow a fish…
Latin America has massive commercial coastline for
sustainable production:
3% annual production by volume
8.5% annual production by value
10% of global exports

14. Global Seafood Trade (2006)

15. …and it will feed the world
LATAM accounts for 10% of global seafood exports – up
99% since 2000
• More than 15 million tons produced in 2008
• Aquaculture accounts for 8.5% of total LatAm production
• Wild catch has declined >16% in the past decade
• Exports from LatAm account for just 10% of global trade by
value
• Nearly 2/3 of production is consumed domestically
LATAM has conditions, expertise to grow rapidly

16. Leaders and
Emerging Countries
Recent efforts by governments across region to
promote commercial Aquaculture:
• Chile, Brazil, Peru, Mexico, Panama, Belize
Plenty of room for growth:
• Emerging countries: Colombia, Ecuador, Costa
Rica, Honduras

17. Global Seafood Trade

18. Net Exports of Select Commodities
by Developing Countries

19. Favorable Tailwinds
• Over the next 20+ years, Aquaculture will expand
and diversify
• Production of species groups will greatly increase
and new species will appear at increasing rates
• New environments will be increasingly employed
• More resources will be required in terms of capital,
talent, and technology
• More people will be involved in Aquaculture
production

20. “Aquaculture, not the Internet, represents the
most promising investment opportunity of the
21st century.”
– Peter Drucker

21. Contact Us
Corporate Headquarters
India USA
809, Raheja Centre, 200 W. Madison St.
Nariman Point Suite 710
Mumbai - 400021 Chicago, IL 60606
Office +9122 3028 7272 Office +1 312 386 7100
India@iliadavenues.com usa@iliadavenues.com
Institutional Offices
Miami Ahmedabad
175 SW 7th Street Capitol House, 10 Paras -
Suite 1911 II, Nr. Prahlad Nagar ,
Miami, FL 33130 Ahmedabad – 380 051
Office +1 305 407 1014 Office +9179 4024 0000
miami@iliadavenues.com investor@iliadavenues.com

22. Thank you