Santander and Grupo Atitlan have successfully completed a €300 million first closing for ATGRO SCR, their agricultural investment vehicle registered last February with the CNMV, thus confirming the market’s interest in the primary sector as an alternative investment.

During its first month of operations, the fund managed by Santander Alternative Investments (SAI) and Elaia has obtained investment commitments from national and international private investors, in addition to initial support from Santander and Atitlan as anchor investors.

The goal is to reach €500 million in capital by the third quarter of 2025. ATGRO is currently in very advanced discussions with various institutional investors interested in the project, classified under Article 8 of the sustainability regulations applicable to financial products, with a commitment to promote environmental and/or social initiatives within its portfolio.

To date, ATGRO has already invested €125 million, equivalent to 25% of its target size, and is actively negotiating several opportunities in Europe and Latin America that would raise the investment figure to over €250 million.

Currently, it has two assets in its portfolio: an investment in pistachios, with more than 3,200 hectares in different stages of production across the Iberian Peninsula; and Ecosac, the second-largest Peruvian exporter of seedless table grapes, which has more than 2,000 hectares in production and a land bank of 2,500 hectares.

About Banco Santander
Santander’s stake in ATGRO is part of the strategy of the Investment Platforms Unit (IPU) and Santander Alternative Investments, both part of the Wealth Management and Insurance division and specialized in investing in alternative growth segments to the bank’s traditional activities, such as direct lending (Tresmares or LB Oprent), private equity (Fremman Capital), venture debt (Atempo), Special Situations Lending (Deva Capital), and venture capital (Seaya, Mouro Capital).

About ATGRO
ATGRO is a global agricultural investment platform, focused on long-term cultivation of nuts and superfruits in Europe, the Americas, Africa, and Asia. As an agricultural project, it combines sustainability objectives, long-term financial returns, and good governance practices. The investment strategy is based on several differentiating aspects: management of economies of scale; diversification across crops and geographies; the experience of the management team with a proven track record; and technical development of production processes.

About Atitlan
It is one of the most active private business groups in the Iberian Peninsula, having invested more than €1.5 billion in various productive sectors since its founding in 2005. Its strategy is characterized by long-term investments in various sectors (agriculture, real estate, renewable energy, industrial/services, and finance), where it has extensive experience in value creation and positive social impact.