A new platform aimed at global investment in agricultural projects has been announced by Santander and Atitlan. Atitlan, a firm established two decades ago and led by Roberto Centeno and Aritza Rodero, which already manages a portfolio exceeding one billion euros, is partnering with Santander to launch Atgro. The platform will take the form of a venture capital company and will begin with 200 million euros from the bank and an additional 50 million from the Valencian group. The overarching objective is to grow this initial pool, aiming to surpass 500 million euros with the help of new investors.
Situational Update
Both entities explain that any agricultural ventures brought under the Atgro umbrella will be managed by Atitlan’s investment arm Elaia, in which Santander will become a minority shareholder as part of the agreement. Elaia already operates across a range of crops—almonds, oranges, clementines, lemons, grapefruits, avocados, and pistachios—spread across Spain, Portugal, and Morocco. The release notes that this diversification has positioned the firm as a leading name in planting and agro-process management, with more than 20,000 hectares transformed.
In this framework, Santander and Atitlan intend for Atgro to steadily develop a broad product portfolio, including fruit categories and so‑called superfruits, sourced from different geographic hubs in Europe, the Americas, Africa, and Asia. A key driver for expansion rests on cultivating new crops and acquiring production assets. The initial step, from inception, involves continuing productive investments that Atitlan already held in pistachios and marks its first major transaction through a majority stake in the Peruvian company Ecosac. Ecosac stands as the second-largest grape exporter in Peru, with business volume around 200 million dollars.
Open to Institutional and Private Investors
Both entities highlight that the platform will be open to institutional and private investors alike, attracted by the significant interest in these high‑impact, economically meaningful assets that also show low correlation with traditional financial products. The partnership between Santander and Atitlan is presented as a long‑term commitment to the agri-food sector, which is undergoing a transformation driven by climate change, demographic shifts, and evolving consumer habits. These forces are accelerating a move toward a more scalable and sustainable mode of production.
(Note: All information reflects disclosed statements from the involved parties and current market positioning.)