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Puerto Rican Fund for Growth Supports Puerto Rican Agribusiness

The Community Development Venture Capital Alliance (CDVCA) is pleased to announce that the Puerto Rico Fund for Growth, L.P. has invested $4 million in Semillero Investment Fund I, LLC (“Semillero”), an agribusiness, private equity fund based on the island. Semillero will focus on investing in sustainable food and agriculture businesses with a view to substitute food imports with local production in Puerto Rico. We are excited about this because, even before the hurricane, 85% of food and beverage consumed in Puerto Rico was imported. The opportunity for import substitution of just 15% of those imports is a $1 billion market, which has the potential to create jobs and economic value across the island’s economy, the significance of which is only amplified in the wake of Hurricane Maria.

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