Toesca Asset Management, a leading alternative investment firm based in Santiago, Chile, has partnered with Astarte Capital Partners, a global investment firm headquartered in London, to create an institutional platform dedicated to regenerative agriculture investments in Chile and throughout Latin America. The collaboration aims to capitalize on the growing demand for sustainable agricultural practices, with the goal of promoting both financial returns and environmental stewardship.
The partnership’s first initiative, the Toesca Permanent Crops II Fund (“TPC II”), a member of the Astarte Platform, will focus on investments in permanent crops, including orchards and vineyards, utilizing regenerative farming techniques. The fund aims to raise US $350 million to build a diversified portfolio of permanent crops across Chile and other strategic markets in Latin America, such as Peru. Toesca and Astarte have already committed approximately $45 million of their own capital to the venture, reflecting their confidence in the potential of regenerative agriculture as both a profitable and impactful investment opportunity.
The investments will center around high-performance orchards, carefully selecting crop species that can thrive in the unique climate and soil conditions of Chile, with an emphasis on regenerative and sustainable farming practices. These practices, which restore and maintain soil health, improve biodiversity, and reduce carbon emissions, are gaining traction globally due to growing consumer demand for healthier food options and increasing awareness of the role agriculture plays in environmental sustainability.
The global market for permanent crops, such as fruit and nut trees, has seen substantial growth due to a shift in consumer preferences toward healthier, plant-based diets. This trend, coupled with the importance of permanent crops in enhancing food security, makes them an attractive investment opportunity. The TPC II fund will focus on these high-demand crops, ensuring that each investment meets rigorous operational, environmental, and social standards.
The partnership combines Toesca’s deep knowledge of Chilean agriculture with Astarte’s global expertise in sustainable investments and natural capital. Together, the two firms have extensive experience managing over 82,000 hectares of natural capital assets in South America. Their successful track record includes delivering strong financial returns, fostering carbon sequestration, and achieving positive environmental and social outcomes.
Carlos Saieh, Partner and CEO of Toesca Asset Management, expressed his enthusiasm about the partnership, highlighting the strategic advantages of Chile and Peru for fruit production. He noted that these countries’ natural advantages, combined with their ability to provide counter-cyclical produce to the Northern Hemisphere, create a compelling investment case. Additionally, Saieh emphasized the growing flow of institutional capital into the region’s agriculture sector, which further reinforces the optimism surrounding this strategy.
“In more than 20 years of investing in Latin America, we’ve never been more excited about an opportunity than we are today with this new platform,” said Saieh. “The combination of Chile’s and Peru’s competitive advantages for fruit production and the opportunity to provide counter-cyclical produce to the Northern Hemisphere makes this investment case incredibly strong. We’ve observed institutional capital beginning to flow into the sector, and this is a trend that will only accelerate.”
Saieh also highlighted the dual impact of the investments—achieving attractive financial returns while also benefiting the environment and local communities. He emphasized that the investments would focus on sustainable development practices that create long-term value for all stakeholders.
Teresa Farmaki, co-founder of Astarte Capital Partners, echoed Saieh’s sentiments, underscoring the importance of regenerative agriculture in the broader natural capital investment landscape. “Sustainable agriculture is at the heart of the natural capital agenda,” said Farmaki. “Regenerative agriculture investments not only contribute to food security but also play a critical role in advancing sustainability goals. By combining our expertise, we are creating a platform that will have a lasting positive impact on both the environment and the communities we engage with.”
Farmaki also expressed excitement about the potential for the partnership to unlock new opportunities in the sustainable agriculture sector, particularly in Chile, where the climate and geography make it an ideal location for permanent crops. “We are very excited to start this journey with Toesca and look forward to delivering the positive impact our collaboration can achieve.”
Toesca Asset Management, founded in 2016, is a Chilean firm specializing in alternative investments across the Americas. The team behind Toesca has more than two decades of experience in managing investments in real estate, infrastructure, private credit, and regenerative agriculture. The firm has raised $2.3 billion in institutional capital, which has been strategically deployed in various illiquid assets, including real estate and agriculture. Toesca’s founders have deep ties within Chile’s agricultural sector, providing them with a competitive edge in sourcing and managing investments.
Together, Toesca and Astarte aim to lead the way in regenerative agriculture investments in Latin America, providing institutional investors with an opportunity to align their financial goals with a positive environmental and social impact. As the global demand for sustainable agricultural practices continues to rise, the partnership is well-positioned to capitalize on the growing opportunities in this rapidly evolving sector.
