In late February 2022, everything changed for Bio-Marine Ingredients Ireland (BII), a producer of speciality marine proteins, minerals and lipid powders. The marine ingredients startup was planning to raise €50 million from institutional investors to build a new facility in Killybegs, the largest fishing port in Ireland. Only weeks earlier, it had raised a €6.5 million convertible loan note from clients of Cantor Fitzgerald to help prepare the rapidly growing business for the next stage of its development as it hoped to create a range of fish-based, high-value food ingredients similar to the success already achieved in Ireland’s dairy sector. …

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