SP Ventures Raises $22 Million for Third Fund, Focused on Agrifood Innovation and Early-Stage Investments

SP Ventures has raised $22 million for the first closing of its third venture capital fund, despite the challenging fundraising environment marked by high-interest rates and inflation. The firm, led by Francisco Jardim, aims to reach $60 million by mid-2025 and potentially $80 million by the end of the year.

The fund’s investors include major agribusiness players such as AGCO, FMC Corporation, and Minerva Foods. SP Ventures plans to allocate 40% of the fund’s capital for initial investments and reserve 60% for follow-up funding to support high-potential startups. The firm has a history of backing companies in agrifintech, biologicals, and supply chain innovation, with past investments including Agrolend and ZoomAgri.

SP Ventures is particularly focused on sectors such as biologicals, financial services, and education. With Latin America being a key player in agricultural innovation, the firm aims to capitalize on opportunities in agfintech, climate finance, and sustainable agriculture, especially as Brazil leads in deploying innovative solutions. The firm also sees significant potential in the intersection of AI and biologicals for product discovery and in areas like traceability, logistics, and environmental assets.

Education in agriculture is another priority, with SP Ventures backing AgroAdvance, an edtech platform that aims to expand agricultural knowledge across Brazil. As the firm continues to focus on early-stage investments, it anticipates further growth in the agtech and agrifood sectors, particularly in light of ongoing shifts in market dynamics.