Contact: Zach Lowe (zlowe@rare.org)
ARLINGTON, VA – March 31, 2020 – The Meloy Fund, a pioneering impact investment fund developed to provide capital to enterprises that benefit coastal communities and ecosystems, announced a recent investment in PT SIG Asia, a leading tuna processor based in North Sulawesi, Indonesia.
Founded in 2008, PT SIG Asia processes and exports responsibly caught, high-quality yellowfin tuna to customers throughout the world, largely sourcing from artisanal fishers. The Meloy Fund’s investment provides PT SIG Asia with the capital needed to further grow its core business and participate in improving the sustainable management of regional tuna fisheries. In particular, Meloy Fund financing will help PT SIG Asia access new markets, streamline its operations, upgrade its processing facility, and establish a best-in-class seafood traceability system.
Pak Daniel Loy, CEO and Founder of PT SIG Asia, said, “At PT SIG Asia, we take pride in our products and our strong relationships with our customers and the local fishing community. This partnership with the Meloy Fund gives us an opportunity to expand our company, implement value-generating ESG-compliant practices, and expand our leadership in the sustainable seafood industry in our region.”
The Meloy Fund partners with companies like PT SIG Asia to implement Environmental, Social, and Governance (ESG)-driven initiatives that generate both profits and tangible benefits for vulnerable coastal communities and the resources on which they depend for their livelihoods. The Meloy Fund projects that this investment and subsequent growth will bring significant additional income to thousands of local fisher families and place tens of thousands of hectares of critically important marine ecosystems under improved management.
“We’re very pleased to partner with PT SIG Asia,” said Dale Galvin, Managing Partner of the Meloy Fund. “PT SIG has a great product and a stellar reputation for providing high quality seafood. With our investment, we look to help PT SIG Asia create value through building a sustainable supply chain for tuna in Indonesia.”
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ABOUT THE MELOY FUND
The Meloy Fund is an impact investment fund that invests in businesses operating in the coastal economies of Indonesia and the Philippines. Our sector focus includes seafood, aquaculture, fisheries supply chain and logistics, marine biotechnology, marine certification and traceability, coastal and maritime tourism, waste disposal management, and recycling. We provide debt and equity financing to companies that not only have the potential to significantly grow their businesses, but are also committed to adopting sustainable policies related to their interactions with coastal communities and marine ecosystems. The General Partner of the Fund is sponsored by Rare, a global environmental conservation organization. To learn more about the Meloy Fund, please visit http://www.meloyfund.com.