On February 9, the Japan International Cooperation Agency (JICA) signed an investment agreement with AgVentures III GP, LLC (“SP Ventures”), a venture capital fund specializing in the agricultural sector in Latin America and the Caribbean, particularly in the Federal Republic of Brazil. The signature was exchanged between Francisco Jardim, Managing Partner of SP Ventures, and Shohei Hara, Director of JICA.
Ceremony
Through SP Ventures, this project will invest in startup companies in the agricultural sector that contribute to climate change countermeasures in the Latin America and Caribbean region, centering on Brazil. Agriculture in the region is an important industry that supports the economic growth of each country and plays an essential role in food security, accounting for about 20% of the world’s agricultural production. Japan also imports many agricultural products from the region, and support for agricultural innovation and sustainable development will contribute to the stability of food supply for the entire world and Japan. JICA will further promote these efforts through its investment in SP Ventures.
The project is part of the Latin America MIDORI Initiative (see below for details), an initiative announced at the 30th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP30), and is being implemented in collaboration with the Inter-American Development Bank Innovation Lab (IDB Lab) and other development finance institutions and several private investors, as well as SP Ventures’ No. 3 fund in collaboration with development finance institutions such as the Inter-American Development Bank Innovation Lab (IDB Lab) and several private investors.
1. investee
AgVentures III Climate Investment Fund, LP (“SPV III”)
2. country (region covered)
Latin America and the Caribbean
3. amount of capital contribution
Up to US$10 million
4. project name
Agricultural Innovation Investment Business
5. business purpose
This project aims to contribute to the realization of sustainable agriculture in the region, mitigation and adaptation to climate change, and global food security by supporting the expansion of startup businesses that contribute to climate change mitigation in the agricultural sector through investment in a venture capital fund managed by SP Ventures, which has contributed to agricultural innovation in Brazil and other countries in Latin America and the Caribbean. SP Ventures, which has contributed to agricultural innovation in Brazil and other regions of Latin America and the Caribbean, will support the expansion of startup businesses that contribute to climate change mitigation in the agricultural sector, thereby contributing to the realization of sustainable agriculture in the region, climate change mitigation and adaptation, and global food security.
6. business overview
Through its investment in SPV III, the company is investing in a startup that is developing a business that will help combat climate change in the agricultural sector in Brazil and other Latin American countries.
7. contribution to SDGs
Goal 2 (zero hunger)
Goal 13 (take concrete action on climate change)
Goal 17 (Let’s achieve our goals in partnership)
8. other
– The Latin America MIDORI (Mission for Inclusive Development through Responsible Investment ) Initiative is a JICA initiative to promote businesses that contribute to climate change mitigation in Latin America and the Caribbean (renewable energy and energy saving, environment, agriculture, biodiversity, The initiative was announced at COP30 in Brazil in November 2025.
– This project falls under the “CORE” framework for collaboration with the IDB Group:
© Source JICA