September 29, 2022

By Lynda Kiernan-Stone, Global AgInvesting Media

Based in Los Angeles, but with roots  firmly planted in Peru, Agrovision currently has farming operations growing blueberries, raspberries, blackberries, and table grapes in Mexico, Morocco, and in the U.S. in the state of Oregon. 

The company explained that the Humboldt Current flowing along the western coast of Peru forms a “natural greenhouse” effect, resulting in optimal growing conditions with year-round sun and an enviable growing season timeline. From here, the company expanded into Mexico, Morocco, and the U.S., guaranteeing the ability to provide high-quality fruit to its three core consumer markets: Asia, North America, and Europe. 

As the company continues to rapidly grow, Swiss sustainable asset manager responsAbility Investments has stepped up to lead an initial round of growth capital that was joined by the Avenue Sustainable Solutions Fund, managed by Avenue Capital Group. 

“The joint investment brings further depth and backing to Agrovision’s ability to reliably provide our consumers around the world with the highest quality superfruits 365 days per year, while reinforcing our position as a leader in sustainable agriculture,” said Steve Magami, co-founder and executive chairman, Agrovision.

“We are thrilled to partner with such high-quality groups aligned with our mission and vision during a time marked by volatility and global supply chain disruptions. This reflects continued confidence in Agrovision’s transformational environmental and social impacts.”

Agrovision produces unique varieties of berries while taking a proactive role across eight of the UN’s Sustainable Development Goals (SDGs) by employing sustainable farming practices, precision agriculture techniques, and thoughtful resource management. Adding the company’s complete control of its supply chain maximizes the speed at which the company gets its fruit to market, ensuring freshness and quality.

“We are excited to partner with Agrovision, with whom we share the vision of a future of sustainable and technology-driven agriculture that delivers high quality, nutritious food,” said Rik Vyverman, head of sustainable food private equity, responsAbility. “Our innovative investment partnership structure reflects our joint commitment for sustainability and governance.”

The raising of this growth capital is the latest development in Agrovision’s rapid evolution, coming only months after the company announced a new North American marketing partnership with Berries Paradise – a joint venture with combined current planted acreage of 10,000 acres yielding 120 million pounds of blueberries, raspberries, and blackberries from Peru and Mexico.

It also comes on the heels of Agrovision securing $210 million in long-term, flexible financing from Credit Suisse, Rabobank, Santander, ICBC, and others.

“We are very excited to have closed this landmark financing in a volatile environment,” said Magami in May of this year. “This reflects the market’s confidence in the financial strength and prospects of Agrovision. The capital will allow us to pursue strategic opportunities on a global scale and to increase the supply of the world’s best berries from markets current and new.”

This momentum has left Agrovision well-positioned, noted Sean Coleman, senior portfolio manager, Avenue Sustainable Solutions Fund, who concluded, “An investment in Agrovision is a natural fit for our strategy. We are excited to back Agrovision as it looks to address a growing demand for sustainable agriculture. The company is extremely well-positioned to demonstrate that financial success does not need to come at the expense of the environment.”

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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