2026.02.12
On February 9, the Japan International Cooperation Agency (JICA) signed a limited partnership agreement with AgVentures III GP, LLC (SP Ventures), a pioneering Brazilian venture capital fund manager specialized in the agricultural sector. The signatures were exchanged between Managing Partner Francisco Jardim of SP Ventures and Senior Vice President Hara Shohei of JICA.
Scene from the ceremony
The Project focuses on investments in agricultural startups that contribute to climate change mitigation and adaptation in Brazil and the wider Latin American and Caribbean region through SP Ventures.
Agriculture plays a vital role in this region, driving economic growth across individual countries and accounting for approximately 20% of global agricultural production, thereby contributing significantly to global food security. Japan also imports a substantial volume of agricultural products from the region, and cooperation in agricultural innovation and sustainable development contributes to both global and Japanese food security.
Furthermore, many Japanese companies are engaged in the agricultural sector in this region, and collaboration with such Japanese companies has been realized through SP Ventures’ portfolio companies. Through its investment in SP Ventures, JICA will further promote these initiatives.
Under the MIDORI Initiative (see below) announced at the 30th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP30), JICA is co-investing in SP Ventures’ third fund with development finance institutions such as Inter-American Development Bank Laboratory (IDB Lab) and other investors from the private sector.
1. Investee
AgVentures III Climate Investment Fund, LP (SPV III)
2. Country (Target Areas)
Latin America and the Caribbean region
3. Loan Amount
Up to 10 million USD
4. Project Title
Project for Investment in Agricultural Innovation
5. Project Purpose
The project aims to support the growth of startups in the agricultural sector that contribute to climate change mitigation and adaptation in Latin America and the Caribbean region by investing in a fund that invests in such companies. It thereby contributes to sustainable agriculture, climate change mitigation and adaptation, and food security in the world.
6. Project Component
The project invests in SPV III to support startups in the agricultural sector that contribute to climate change mitigation and adaptation in Latin America and the Caribbean region.
7. Contribution to SDGs
Goal 2 (Zero Hunger)
Goal 13 (Climate Action)
Goal 17 (Partnerships for the Goals)
8. Reference
- MIDORI (Mission for Inclusive Development through Responsible Investment) Initiative was launched at COP 30 in Brazil in November 2025 to promote JICA’s investment in the climate change space such as renewable energy, energy efficiency, environment, agriculture, biodiversity, water and sanitation, and waste management.
- This investment is made under CORE, a co-financing framework with IDB Group:
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