Alpha Capital acquires 33.7% of Tharawat Seas through Alpha Aquaculture Fund

The signing ceremony 

Alpha Capital announced that Alpha Aquaculture Fund, a Shariah-compliant private equity fund, completed the acquisition of a 33.7% stake in Tharawat Seas Co., an aquaculture company operating on the coast of the Red Sea. The transaction was concluded under the patronage of the Ministry of Environment, Water and Agriculture, represented by H.E. Eng. Mansour bin Hilal Al-Mushaiti, Vice Minister of Environment, Water and Agriculture.

Commenting on the transaction, Fahad Al Saud, Managing Director and CEO of Alpha Capital, said: “This partnership with Tharawat Seas, a leading player in the Aquaculture sector, represents a significant addition to Alpha Capital’s private equity portfolio. The fund provides investors with exposure to a promising sector experiencing rapid growth in demand, driven by changing food consumption patterns and growing awareness of the importance of seafood as a source of protein.”

Al Saud added: “Saudi Arabia’s aquaculture sector is undergoing significant transformation, supported by the Ministry of Environment, Water and Agriculture and the National Livestock and Fisheries Development Program through initiatives aimed at strengthening food security, with targets that include raising national seafood production to more than 500,000 tons annually and increasing annual seafood consumption per-capita to 20 kilograms by 2030 from 13.4 kilograms in 2024.”

Abdullah Al Qahtani, Chairman of Tharawat Seas, said: “This partnership is a strategic step in Tharawat Seas’ development, reflecting confidence in the sector and its role in supporting the Kingdom’s vision for a sustainable aquaculture industry and enhancing food security. The partnership is intended to advance the company into its next stage of development by supporting integration across aquaculture activities and increasing production capacity to meet market requirements and shareholder aspirations.”

Tharawat Seas CEO Jaber Al Sahli said: “Alpha Aquaculture Fund’s investment underscores the promising opportunities available in the sector, including at Tharawat Seas, which has been operating steadily for more than 12 years.” The company currently produces more than 4,000 tons of fish annually, he said, adding that the investment is aimed at expanding fish production across multiple locations to meet demand in local and regional markets, followed by international markets.

Alpha Capital is a Saudi financial institution licensed by the Capital Market Authority and is one of the leading firms in asset management and alternative investments. The company has more than SAR 28 billion in assets under management.