Our Approach

AgDev provides a unique platform for investors interested in sustainable agriculture production

and a unique solution for the expansion-minded farmer. Why? To management’s knowledge, we are the only organization focused on the degraded pasture acquisition strategy that combines “boots and suits.”

What does this mean?

We believe that to fully execute this strategy properly one needs to actually have a true inherent

and real knowledge of farming practices in one’s DNA and also be very connected to the capital markets and investors. AgDev, as a Carroll Group company, is literally on the farm with 15,000 hectares under management. We understand and live on the farm. Our strategic partnership with Prada Assessoria, a large investment firm with a significant track record in credit investments in Brazil, provides a unique perspective that aligns with institutional investors. We understand investors and have a large office in the financial district of São Paulo and are in constant contact with investors in the USA and Europe as well. AgDev is the result of this combination of Carroll and Prada. AgDev works with Prada and the Carroll organization to put all the pieces together. Specifically, AgDev is responsible for managing the day-to-day execution of raising capital, originating farmers, and managing the services that we leverage from the Carroll organization. Importantly, AgDev also assists in all needs of Prada as the fund manager.

For both farmers and investors, we seek to be a “turnkey” solution meeting all of their needs.

For example, for farmers, not only do we provide access to capital, but also the potential for land and farm management solutions, environmental consultancy for improving and ongoing monitoring of sustainable farming practices, and even farmland real estate services that can help identify and manage the purchase of new degraded pasturelands. For investors, not only do we provide a sustainability-oriented investment opportunity in the world’s largest agricultural producing country with real, positive environmental impacts, but we also do so with significant international investing experience which allows us to make these investments dollar-based, eliminating currency risk.

Gêneros de Financiamento para o Agronegócio

Mercados de Capitais

O financiamento é competitivo em termos de prazos e estruturas, porém ainda se encontra em estágio inicial de desenvolvimento.

Bancos

Seu foco gira em torno de capital de giro com um prazo limite geralmente curto e taxas altas.

Cooperativas
de crédito agro

Apresenta uma linha de crédito competitiva, mas com volumes reduzidos.

Indústria

As operações por meio de barter são caras, com prazos muitos reduzidos e apresentam pouca transparência para o produtor em relação aos jutros embutidos.

Crédito Subsidiado

Os recursos controlados no agronegócio são insuficientes devido à deterioração do ambiente fiscal no Brasil. Isso resultou na redução proporcional das subvenções do crédito agrícola subsidiado em relação à carteira total de crédito rural. 

Opex

No Plano Safra, metade dos recursos liberados é direcionada para o custeio das atividades agrícolas. Além disso, há opções de recursos livres oferecidos pelos bancos com o prazo do Safra. Outra alternativa é o sistema de barter, em que a indústria financia a compra de insumos com prazo do Safra. Embora as taxas embutidas nos preços dos produtos sejam as mais altas do mercado, a aprovação é extremamente rápida.

Capex

O Plano Safra oferece recursos subsidiados, destinando aproximadamente 30% do montante vai para o investimento. Por outro lado, os recursos livres são disponibilizados pelos Bancos com taxas de mercado e prazos de até 5 anos — geralmente são limitados a clientes com histórico e relacionamento prévio.

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Juan Arteaga

Investor Relations Associate

Juan, a versatile professional and devoted father of two, brings rich expertise to his role at AgDev as Investor Relations and Research Associate. Fluent in Spanish, English, and Portuguese, his diverse journey from Colombia to Maui, via Ecuador, São Paulo, and Florianopolis, has cultivated cultural insights. Educated across British and American schools, Juan is currently pursuing a Finance and Economics degree at Unisul. He also attended the University of Hawai’i Maui. Starting in water sports at 15, he gained hands-on experience in instruction, retail, and brand importation, including licensing for prominent national brands in Brazil. He expanded into equity markets in 2019, furthering his financial expertise, and embraced agriculture and farm finance in 2022. Juan’s entrepreneurial spirit and financial acumen adeptly navigate industry complexities, alongside his balanced approach to career and fatherhood.

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Tami Gongora

Marketing Associate

Tami is a pivotal member of our Marketing team, leveraging her background and talents to the fullest. Holding a B.A. with Honors in Psychology from Bethel College, KS, she also earned certificates in Neuroscience and Clinical & Counseling Studies from the same institution, where she stood out as a member of the Phi Theta Kappa Honor Society and received an academic scholarship. She also holds a postgraduate degree in Marketing from FGV, Brazil. While originally from São Paulo, Brazil, Tami spent considerable time in Kansas, where she completed her high school and college education, concurrently serving as a mental health Case Manager for Sedgwick County. In Brazil, she discovered her entrepreneurial skills by founding an English teaching business for teenagers and adults, progressing to instruct kindergarten students at a prestigious São Paulo school. Additionally, she dedicated three years as a Chapter Manager for the Entrepreneurs’ Organization (EO) of São Paulo. Surprisingly, Tami is also an aspiring actress, immersing herself in Theater studies since 2017.

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Carolina Ulloa

Investor Relations Associate

Carolina, the Executive Assistant and Investor Relations Associate at InDev Capital, spearheads global investor research, while providing comprehensive support to the CEO in various capacities including marketing campaigns, road shows, logistics, research, and investor meetings. With a prior 7-year stint at ProColombia in São Paulo, focusing on trade and tourism promotion between Colombia and Brazil, she brings valuable experience to her role. Carolina’s educational background includes a B.A. in Finance and International Relations from Universidad Externado de Colombia, along with certificates in International Peace and Conflict Resolution and International Trade from American University. Holding Colombian and Brazilian dual citizenship, she’s proficient in Spanish, Portuguese, and English, embodying the eclectic spirit that aligns with the InDev team ethos.

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Beatriz Martinez

COO

Beatriz, co-founder and COO of AgDev, is responsible for day-to-day systems and operations. Originally from Spain, but has spent a significant amount of time in Brazil, where she co-founded InDev Capital, a merchant banking firm focused on real estate investments. Drawing from a background in architecture and urban planning, she previously collaborated with prominent developers like Brookfield, PDG, and Rossi on urban residential projects in São Paulo. Her academic achievements include a Bachelor’s in Architecture and Urban Planning from the University of Las Palmas Gran Canaria, Master’s Degree in Collective Housing from Polytechnic University of Madrid, from Escola da Cidade (Sao Paulo), along with a PhD in architecture and Urban Planning from the University of Campinas, São Paulo, investigating the financial and housing policy dynamics in comparison between São Paulo and Madrid. Fluent in Portuguese, English, and Spanish, Beatriz’s aspiration to master meditation is challenged by her responsibilities as a mother of four young children.

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David Weihs

Farmer Relations

David is a co-founder of AgDev and responsible for Farmer Relations. He graduated from Cornell University in Applied Economics and Management with a specialization in Agribusiness and Finance. Since 2005, he managed a land development project in Brazil and was involved in the early stages of several agribusinesses based in Iowa, focusing on agriculture, pork production, and dairy. In 2009, David began working with Carroll Farms Brazil, concentrating on analyzing expansion opportunities. He is now a co-owner of Carroll and is engaged in management at all levels. He has also collaborated with the Carroll family in Carthage, Illinois, on various occasions. David resides in Bahia and is married to Fabíola Weihs. They have three children.

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John Carroll

Chairman

John is a co-founder of AgDev, where he serves as chairman. John is a member of a 5th-generation farming family. He graduated from Western Illinois University in 2003 with a degree in Agribusiness and an MBA with a finance emphasis. John and his wife Kelly moved to Brazil to manage the farm that the Carroll family had recently acquired. John lived in Brazil for 10 years where the operation grew to include 25,000 acres of owned and leased row crop farmland, a cotton gin, and a business services which does consulting, accounting, and compliance work for other foreigners with investments in Brazil. John oversees long term strategic planning for the Brazil business. In the US business John manages the family’s sow farms in Illinois and Missouri. 

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Ricardo Carvalho

Commercial Director

Ricardo is a co-founder of AgDev, where he serves as Commercial Director. With a strong track record as an opportunistic investor in Brazil, Ricardo held a managing partner role at JPP Capital, contributing significantly to the launch of an FII focused on residential real estate and collaborating on a $135M residential joint venture with InDev Capital. Earlier, at Avant Garde Development, he led investments and investor engagement for a sizable land development project near São Paulo. Ricardo’s academic background includes a Business Administration degree from FAAP and an MBA from FGV. Known fondly as “A Guru” within the firm, he’s an enthusiastic meditation practitioner who embarks on meditation retreats during holidays, inspiring the InDev team with his dedication.

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Joseph Williams

CEO

Joseph Williams, co-founder and CEO of AgDev, guides the company’s overall direction and investor engagement. He cultivated his international business career during his time at Stanford University, where he pursued a Japanese minor. After various experiences, including engineering and business development roles in Tokyo, an MBA from Harvard Business School, and work in investment banking, Joseph co-founded Wakefield James Management Group. Serving as its President, he transformed a residential supply company into an industry leader across the U.S. and Canada. Relocating to São Paulo, he immersed himself in Brazilian culture and language, paving the way for InDev Capital’s creation—an emerging market real assets merchant bank. In 2020, Joseph became interested in sustainable and regenerative agriculture, and saw there an opportunity to make a real impact in the world. He, then, founded AgDev in partnership with the Carroll Organization. Joseph’s academic background includes an undergraduate degree in Industrial Engineering from Stanford and an MBA from Harvard, and he is skilled in Portuguese and Japanese. A native of Durham, North Carolina, he’s an avid reader with a special interest in history and fiction, notably Nassim Taleb’s works. He’s known for reading Atlas Shrugged by Ayn Rand once a decade and Taleb’s The Black Swan three times, and he aspires to tackle Time Magazine’s Top 100 Fiction list.