What Aqua Capital does

Aqua Capital is a private equity firm founded in 2009 and headquartered in São Paulo, Brazil, focused on growth investments in mid-market companies across South American agribusiness and food value chains. The firm deploys capital through control and significant-minority investments in agricultural inputs, crop production, branded food, and adjacent value-chain segments, as evidenced by a documented acquisition cadence spanning Rural Brasil (2016), Agro100 (2017), Rech Agricola (2019), Puravida (2020), and Aderezos (2022). It operates with 11–50 employees and a specialized leadership team led by founder and managing partner Sebastian Popik, alongside managing directors Fabiana Cid Andrade and Fabio Medeiros, with dedicated investor relations (Elvire Perrin) and business development (Gustavo Eiben) functions consistent with ongoing fundraising and origination activity.

The firm generates revenue through standard PE economics — management fees on assets under management and carried interest on realized gains — though neither AUM, fee rates, nor fund vintage data are disclosed. Separately, the input data also references an entity identified as "Aqua Capital, Ltd." that, together with affiliated Section 13(d) group entities (Durango Capital, Ltd., Fundacion Omerinta, Brinza International Corp., Fundacion Barniz), accumulated a position exceeding 10% of Energizer Holdings (NYSE:ENR) through multiple stock purchases during April–June 2026, reaching approximately 7.16 million shares valued at roughly $122.6 million. It is not possible to confirm from the available data whether this public-market activity is conducted by the same São Paulo-based PE firm or by a separately constituted entity sharing the Aqua Capital name; the input treats them as a single subject.

Name

Aqua Capital

Legal name

Aqua Capital, Ltd.

Website

http://aquacapital.net

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Aqua Capital is a São Paulo-based private equity firm founded in 2009 that invests in mid-market South American agribusiness and food value chain companies, with a documented portfolio of agricultural inputs and branded food acquisitions.

Ownership category

akta.pro rank

Product category

Private Equity / Agribusiness Investment Management

NAICS

Other Financial Investment Activities (5239), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Private equity investments
• Agribusiness growth capital
• Mid-market acquisitions
• Food value chain investing
• South American agtech

Headquarters

HQ city

São Paulo

HQ country

Brazil

HQ region

Latin America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Core offering

Aqua Capital is a private equity firm that makes growth investments in mid-market companies operating across South American agribusiness and food value chains. The firm acquires controlling or significant stakes in operating businesses (e.g., Aderezos, Puravida, Rech Agricola, Agro100, Rural Brasil) and supports their expansion, while also deploying capital into listed equities such as Energizer Holdings. It earns returns through capital appreciation, dividends, and exits from its portfolio companies.

Product overview

No product or service information available in the provided sources. Aqua Capital appears to be an investment firm/capital company that invests in various sectors, including agri-food technology (agtech), but no specific products, services, or technology offerings are documented in the source data.

Differentiator

Problem solved

Functional benefit

Products and services

• Growth Capital Investment Fund Private equity capital provided to mid-market agribusiness and food companies in South America for growth, operational scaling, and strategic expansion. Targeted at founders and management teams of operating businesses in the sector.
• Control/Significant Stake Acquisitions Buyouts and significant equity acquisitions in agribusiness operating companies such as Rural Brasil (2016), Agro100 (2017), Rech Agricola (2019), Puravida (2020), and Aderezos (2022). Aimed at founders and shareholders seeking a partner or full exit.
• Public Equity Strategic Investments Open-market purchases of listed equities (notably Energizer Holdings, NYSE: ENR) where Aqua Capital and affiliated entities have built a position exceeding 10% of outstanding common stock, signaling strategic/activist-style positioning. Aimed at listed companies and their shareholders.

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Actis: Emerging markets-focused private equity and infrastructure investor with food and agriculture exposure across Latin America, Africa, and Asia. Comparable to Aqua Capital on EM sector mandate and growth-equity orientation, though with broader geographic and asset-class reach.
• Carlyle Group: Global private equity firm with a dedicated consumer, food, and retail vertical including Latin American deals. Comparable as a broad incumbent with overlapping food and agribusiness exposure.
• KKR: Global private equity firm with food, agribusiness, and Latin America coverage. Comparable as a broad incumbent in the same sector and regional space, though operating at materially larger scale.
• Brookfield Asset Management: Global alternative asset manager with significant agribusiness and renewable natural resources exposure in Latin America. Comparable as a broad incumbent operating in the same regional and sector landscape as Aqua Capital.

Direct peers

• Acon Investments: Private equity firm focused on mid-market companies in Latin America and other emerging markets. Comparable to Aqua Capital on EM/LatAm focus, mid-market ticket sizes, and value chain orientation.
• Victoria Capital Partners: Brazil-based private equity firm focused on middle-market companies in Brazil and the Southern Cone. Highly comparable to Aqua Capital on regional focus, mid-market deal size, and growth investment style.
• AMERRA Capital Management: Alternative asset manager with dedicated agri-food and aquaculture strategies. Highly comparable to Aqua Capital on food and agriculture investment focus, with overlapping exposure to agribusiness value chains in the Americas.
• Southern Cross Group: Latin America-focused private equity firm investing in mid-market companies across the region. Comparable to Aqua Capital on geography, deal size, and growth-stage orientation, with a similar Brazil/Mercosur footprint.
• Conterra Asset Management: Specialist private equity manager focused on food, agriculture, and agribusiness across the Americas and Europe. Highly comparable to Aqua Capital's mid-market South American agri-food mandate, with overlapping sector and stage focus.

Regional players

• Pembani Remgro: Emerging markets-focused private equity investor (predominantly Africa) with food and agribusiness exposure. Comparable to Aqua Capital on EM agri-food sector focus and growth-stage investing, though primarily operating in a different geography.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat2 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aqua Capital