Silk Road Fund and Joyvio Agriculture Development Co (Agri-Joyvio) have acquired 95.26% of the shares of Australis Seafoods, a Chilean Salmon Farming Company, is fund’s first investment in South America.

The transaction marks the Silk Road Fund’s first investment in South America. It also reflects the fund’s efforts to cooperate with strategic investors and establish a global supply system of quality food resources. SRF hopes to collaborate with its partners in expanding in the agriculture sector under the framework of the Belt and Road Initiative.

Agri Joyvio’s controlling shareholder is Joyvio Group, a strategic investment platform specialising in food and agribusiness, with a strong presence in the fields of beverages, fruits, animal protein and branded packaged food.

Silk Road Fund is a medium- to long-term development and investment fund, established under the framework of the Belt and Road Initiative.

Chile was the main driver of growth in farmed salmon production in 2018, with harvest weights and production increases greater than in Norway, according to aquaculture and fishery data provider Kontali Analyse.

Chile has for the two past years surpassed Norway in terms of weights harvested, though Norwegian output is expected to grow faster in 2019.