The Blue RevolutionInvesting in the Sustainable Seafood Value Chain

India-based boutique investment advisory firm

•Private client services and investment banking firm founded

in 2006

•$375 million AUM for HNW and Family Office

About Iliad Avenues

•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

Mega-Trends Shaping

Aquaculture Development

• Green Movement

Blue is the new Green

• Rising affluence of the global ‘middle class’

• Health and wellness lifestyles

• Growing population

• Global ‘food shortage’

• Social Awareness

Commercial Aquaculture

Crossing the Chasm

• Commercial aquaculture is in its

adolescence

• Aquaculture production has been growing

10% annually since the 90’s

The Blue Revolution

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

• Seafood industry remains primitive

• Fastest growing protein source

• Primarily hunter-gatherer

• Commercial aquaculture is only 40 years old

• Complex protein source

• Highly fragmented

The Great Migration Forward

• 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

Aquaculture

PrimaryProcessing

$60 bill.

SecondaryProcessing$120 bill.

Distribution$80 bill.

Capture Fishing$80 bill.

The Seafood Value Chain

Aquaculture

$60 bill.

$60 bill. $120 bill. $80 bill.

Total Annual Value: $400 billion

• 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

Teach a man to fish...

• 6.5 million people work directly in

Aquaculture

• 80% of Aquaculture is produced by small scale farmers

• Aquaculture growing contribution to supply

World Seafood Production (1951-2008)

• 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

Global Opportunity

• 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

17.0???

Worldwide Consumption Of Seafood

(kg/capita/year)

1970s 1980s 2000s1990s 2050s

11.512.5

14.517.0

???

The Sustainable Seafood Value Chain in Latin AmericaValue Chain in Latin America

Latin America has massive commercial coastline for

sustainable production:

Teach a region to grow a fish…

3% annual production by volume

8.5% annual production by value

10% of global exports

Global Seafood Trade (2006)

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

…and it will feed the world

• 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

Recent efforts by governments across region to

promote commercial Aquaculture:

Leaders and Emerging Countries

• Chile, Brazil, Peru, Mexico, Panama, Belize

Plenty of room for growth:

• Emerging countries: Colombia, Ecuador, Costa

Rica, Honduras

Global Seafood Trade

Net Exports of Select Commodities by Developing Countries

• 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

Favorable Tailwinds

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

“Aquaculture, not the Internet, represents the

most promising investment opportunity of the

21st century.”21st century.”

– Peter Drucker

Contact UsCorporate Headquarters

USA

200 W. Madison St.

Suite 710

Chicago, IL 60606

Office +1 312 386 7100

usa@iliadavenues.com

India

809, Raheja Centre, Nariman Point

Mumbai - 400021

Office +9122 3028 7272

India@iliadavenues.com

Institutional Offices

usa@iliadavenues.comIndia@iliadavenues.com

Ahmedabad

Capitol House, 10 Paras -II, Nr. Prahlad Nagar ,

Ahmedabad – 380 051

Office +9179 4024 0000

investor@iliadavenues.com

Miami

175 SW 7th StreetSuite 1911

Miami, FL 33130

Office +1 305 407 1014

miami@iliadavenues.com

Thank you