Lima-based Inka’s Berries has been in the blueberry farming and export business since 2009. The company has developed a berry variety that, unlike standard varieties, does not require periods of cool weather to bloom, making Inka’s crops more resilient to less predictable and warming growing conditions.
The company secured a long-term debt facility from Darby International Capital and Cordiant Capital.
“By backing their significant production expansion, particularly with the zero-chill varieties, we are supporting a high-growth business that is making crucial advancements in climate-resilient agriculture,” said Andres de la Cuesta of Darby, a private debt investor that focuses on Latin America.
Darby is increasing its focus on climate opportunities with its $363 million fourth fund, which closed in September.
Resilient business
Food producers like Inka are ramping up business strategies to mitigate intensifying climate risks. Family-run Driscoll’s, the world’s largest berry company, has been investing heavily in water conservation and climate resilient berry varieties for more than a decade.
In addition to its environmental focus, Inka’s Berries’ works in partnership with rural communities to share the benefits of its growth. In exchange for 500 acres of land in the Chambara district, about 180 miles outside of Lima, Inka offered community landowners preferred shares in the company, dividend payments, and first access to jobs generated by Inka’s farming activities.