In recent years, the Colombian Hass avocado has managed to position itself in international markets, reaching 30 different destinations, and become Europe's main supplier of Hass avocado, above other important producing countries such as Israel, Mexico, Chile, or Spain.
According to figures from the National Administrative Department of Statistics, Colombia exported more than 67,000 tons of Hass avocado in 2020, i.e. 50% more than in 2019. As a result of the good performance of this industry in Colombia, Grupo Cartama, one of the major players in the sector, decided to set up a Private Capital Fund in 2020 as a vehicle to consolidate investments.
“We have been working in the cultivation of Hass avocado for many years and we've managed to increase exports with the help of many entities and experts. However, this growth requires a greater need for money to keep up with the pace required by the market; we must make investments in technology, training, labor, and other issues, so we had to organize ourselves and show greater seriousness and confidence to attract the interest of other investors,” stated Ricardo Uribe, general manager and founder of Cartama.
That's why the Cartama Private Capital Fund was created in 2020, a figure that allows gathering resources from all types of investors. “Institutions and individuals who do not have the necessary knowledge about growing avocado can invest their money in it because the Fund is managed by a professional that is qualified in this type of investment,” stated Dario Gutierrez, a founding partner of Exponencial Banca de Inversión, who participated in the process of structuring the Cartama Private Capital Fund. "The Fund will allow developing large productive projects in the agricultural sector, which bring development and formalization to the country's rural sector while generating returns for investors through projects that energize the country's rural sector," he added.
The Cartama Private Capital Fund began operations on May 18 of last year with more than 30 investors and with a strategy to consolidate the production and commercialization of Hass avocado, generating social and economic development in the municipalities where it has a presence.
Currently, the fund has land dedicated to avocado cultivation in the departments of Antioquia, Caldas, and Risaralda. In addition, it generates more than 900 direct jobs and 400 indirect jobs. As the crops reach their production stage, they will generate more than 4,500 quality rural jobs in the near future.