Seafood restaurant group Rockfish lands £1.25m equity investment

South-west seafood restaurant group Rockfish has landed a £1.25 million investment from the British Business Bank’s south west investment fund (SWIF) as the company sets sail on the next stage of growth.

The equity financing, via appointed fund manager The FSE Group, is part of a £3 million funding round and will now see Rockfish execute a strategic three-year growth plan, which includes opening four new sites and expand its retail offering

Founded by Mitch Tonks in 2007, Rockfish has already grown to eight restaurants, two takeaways, a fishmonger, as well as a tinned seafood range. The firm boasts the award-winning The Seahorse restaurant in Dartmouth.

"This investment is a testament to the strength and potential of Rockfish," said Tonks.

"We are excited to embark on this next chapter of growth, driven by our passion for seafood and our commitment to sustainability and excellence.

"We are grateful for the support from the South West Investment Fund and The FSE Group and look forward to bringing our unique seafood experience to even more people."

During the challenge of the pandemic, Rockfish acquired a fish procurement and processing business in Brixham, giving it control over its supply chain as well as providing competitive and commercial advantages.

Ralph Singleton, head of equity, South West at The FSE Group, said: "Rockfish is poised for an exciting phase of expansion.

"With a robust recovery post-COVID and a highly capable management team at the helm, this expansion will further establish Rockfish as a leader in sustainable and quality seafood dining and we are delighted to be part of this journey."

The £200 million South West Investment Fund (SWIF) covers the whole region and provides loans from £25,000 to £2 million and equity investment up to £5 million to help a range of small and medium-sized businesses to start up, scale up or stay ahead.