Medellín, Colombia-based coffee production company The Green Coffee Company has closed a US$9.6 million Series B funding round.
The company has also announced plans to purchase 946 hectares of coffee farmland adjacent to its existing farms, which nearly doubles the company’s land holdings.
The Green Coffee Company is a portfolio company of Legacy Group, an alternative investment firm founded by Americans Cole Shephard and Adam Jason with a focus on high-impact investments in Colombia.
According to a recent interview with The Alternative Investment podcast, the company’s investors are primarily “high net worth” individuals from the United States.
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With the new investment, which brings the number of individual investors in the Green Coffee Company to more than 180, the company says it plans to extend the Series B round with a price of $700 per share. The company has stated its ambitions to become the largest owner of coffee land in all of Colombia, with a projected 2025 exit sale or IPO.
The company’s land holdings, acquired through purchases in 2018, 2020 and 2021, comprise some 1,900 hectares and 4.2 million planted coffee trees near the town of Salgar in Antioquia.
“A projected 7x return for investors in this funding round through a potential 2025 IPO exit gives investors an unprecedented opportunity to generate significant returns from one of the world’s most timeless and in-demand commodities,” the company stated in a press release today.