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The food-focused subsidiary of Saudi Arabia’s $300bn Public Investment Fund increased its 20% stake in Minerva Foods it purchased in 2016 to 33.8%.
Aqua founder and managing partner Sebastian Popik says Puravida will continue developing its 'farm to mouth' business model within Brazil through 2021 and could later expand across global markets.
The vehicle has already made four investments across its mandate, with Peruvian agribusiness Phoenix Foods and solar energy solutions provider SunColombia among the early beneficiaries.
The Canadian fruit and vegetable distribution and marketing company plans to service new export markets from the South American nation.
Cows in the Field, south of Chile
The move comes after two failed follow-on fundraising attempts and a raft of senior departures over the years.
Close up of avocados
Harvard Management Company was forced to write off $1bn of 'deeply troubled assets' in 2017 but made investments totaling $100m in its last fiscal year.
A slew of deals in Chile highlight the opportunity in the region to trade with Asia, just as that same trade is imperilled by the cancellation of the Asia Pacific Economic Cooperation forum.
Carlyle managing director Taj Sidhu says the loan fits within the Credit Opportunities Fund’s focus on non-sponsored borrowers and will partially be used to support expansion targeting markets in Asia.
The vehicle secured $100m from the Vermont Pension Investment Committee and will aim to make farmland acquisitions averaging $20m across the US, Australia, New Zealand, Brazil, Poland, Romania and Chile.
GIIN research manager Rachel Bass says grant capital is a good match for the incubators, accelerators and de-risking mechanisms that can be pivotal in encouraging investment across sectors in frontier markets.
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