Santander and Atitlan have partnered to launch Atgro, a new global investment platform aimed at driving sustainable agricultural projects. The fund starts with initial contributions of €200 million from Santander and €50 million from Atitlan, with a goal of exceeding €500 million by attracting additional investors. This partnership underscores a long-term commitment to transforming the agrifood sector globally.
Atgro will focus on investments in "superfoods" and sustainable farming practices across Europe, the Americas, Africa, and Asia. The platform's first projects include Atitlan's existing investments in 3,000 hectares of pistachio trees and a majority stake in 5,000 hectares of vineyards managed by Ecosac, Peru's second-largest grape exporter.
The fund will be managed by Elaia, Atitlan’s agricultural investment subsidiary, with Santander as a shareholder. While Santander will not directly manage investments, the bank will leverage its extensive knowledge of local markets and its salesforce to support the platform's growth.
Elaia, which began with olive groves in 2007, has expanded into almonds, citrus fruits, avocados, and pistachios, cultivating over 20,000 hectares across Spain, Portugal, and Morocco. Atgro aims to build a diverse portfolio of products, including dried fruits and superfoods, while expanding geographically.
The fund will also be open to institutional and private investors, offering an alternative asset class that blends strong economic returns with social and environmental impact. Atgro plans to be classified as an Article 8 fund under the Sustainable Finance Disclosure Regulation (SFDR), promoting environmental sustainability within its investments.
Santander’s participation aligns with its broader strategy to invest in alternative growth sectors, further expanding its footprint in private equity, venture debt, and sustainable investment projects.
