April 4, 2024

By Lynda Kiernan-Stone, Global AgInvesting Media

Surpassing its initial target of $400 million, Aqua Capital announced a final close for its Ag & Food PE Fund III (Fund III) with capital commitments totaling $450 million from a diverse group of both returning and new institutional investors, including asset managers, sovereign wealth fund, endowments, development financial institutions, fund of funds, and family offices.

With AUM of more than $1.1 billion, Aqua Capital is one of the largest private equity investment managers backing sustainable businesses throughout the entire agribusiness and food value chains. 

The firm seeks out sustainable and innovative middle-market companies for investment that have successful track records, strong management teams, and that have the potential to become leaders in their sector.

Since its inception, Aqua Capital has made more than 45 investments grouped by platforms across Latin America and North America, and through its approach entailing professionalism, growth, transformation, and impact value creation, has built a collection of scalable and successful companies. 

Fund III will continue pursuing this strategy while partnering with management teams to generate positive impact and results through operational enhancement, strategic change, improved governance, and successful integration of accretive add-on acquisitions.

“We are in the midst of an extraordinary transformation of the agribusiness and food value chains. Fund III will seek to generate strong risk-adjusted returns by investing in companies leading the transition throughout the Americas,” said Sebastian Popik, managing partner, Aqua Capital. 

“We will continue to leverage our unique sector knowledge and reputation to identify sectors and companies poised for accelerated growth and deep transformation, and systematically select companies capable of delivering strong growth and differentiation.”

Fund III is targeting companies across the Americas focused on regenerative agriculture contributing toward carbon reduction, positive change in greenhouse gas emissions, and small and mid-sized farmers inclusion.

To-date, the fund has committed nearly 50 percent of its capital, having invested in five platforms across Latin America and the U.S. as it builds out a portfolio that currently includes investments in high-value, sustainable ag inputs, omnichannel ag retailing, and agtech/services. 

“At Aqua Capital we are highly appreciative of the support and confidence our limited partners have shown in us, particularly in this challenging fundraising environment,” said Gustavo Eiben, partner, Aqua Capital.

“We are conscious that this trust brings with it a responsibility to enhance their capital. We look forward to continuing to execute on a strategy that has afforded us success over recent years.”

~ 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. She can be reached at lkiernan-stone@globalaginvesting.com.

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