This site is for informational purposes only and does not constitute an offer of securities or investment advice. Any offering is made solely through each SPV's private documentation, addressed to qualified investors. Investments in real assets carry risks, including possible loss of capital.
Asset Management · Agriculture & Forestry
Real assets with roots. Stewardship that grows with the land.
Forests VC structures access to agricultural and forestry estates through independent SPVs, under a deal-by-deal model for qualified investors.
Productive land: working agricultural and forestry estates.
Exposure to structural megatrends: food security, the low-carbon economy, reforestation, and rising demand for certified products.
Agricultural and forestry production
Margins from agricultural production —perennial and short-cycle crops— and forestry harvests on defined rotations.
Land and infrastructure
Land, infrastructure improvements and the biological maturation of plantations.
Environmental income
Payments for ecosystem services, forestry carbon credits, biodiversity and water services, plus tax incentives.
Finca Raíz de Oro — Guanacaste, Costa Rica
A 184.7-hectare agricultural and natural-capital estate in Guanacaste, Costa Rica, holding an 85 L/s water concession. Its land-use plan combines commercial crops, diversified agriculture, tropical hardwoods and forest reserve.
Land-use plan allocates 24 ha; 6 ha planted today.
Forest, water & infrastructure
24.7 ha
Forest reserve, water protection and ecosystem services.
Areas follow the current land-use plan; the figures in each deal's documentation prevail.
Deal-by-deal model
No blind pool. Each estate is its own vehicle.
We don't raise a blind pool: each estate sits in its own SPV, where LPs subscribe directly. Participation is decided deal by deal, one SPV at a time.
Origination & underwriting
We source the asset, run legal, technical, environmental and financial due diligence, and structure the SPV terms.
Internal approval
Our internal committee approves the deal and authorises the SPV to proceed.
Deal memo
We distribute a deal memo covering thesis, assumptions, risk factors and the management plan.
Syndication
Each deal is circulated within our recurring LP network, with first-offer/refusal rights (ROFO / ROFR) for repeat LPs.
Subscription & closing
LPs subscribe SPV interests and fund capital in one or more closings, with equalisation where applicable.
Sponsor commitment
The firm commits a portion of deal equity (GP commitment) to align interests, project by project.
SPV structure
A members-and-manager structure for real assets.
Series-level structure.
Capital sits in a master Series LLC; each series inside it draws its own grant of economic rights from the fideicomiso that holds title to the land.
Manager, not owner.
Forests VC LLC manages and sponsors the structure; it does not own the master Series LLC or any series beneath it.
Series-level exits.
A series can be sold or refinanced on its own, independent of the others.
Clean reporting.
Separate accounting for the structure, with a dedicated data room for members.
Corporate architecture
Management Company
Team, processes, systems. Signs the Asset Management Agreements.
Sponsor Entity
Team capital alongside members, plus carried interest.
Series — the SPV layer
Draws economic rights from the fideicomiso that holds the underlying land.
Members
Commit capital into the master Series LLC, estate by estate.
Institutional structureInstitutional structure
MembersInvestorsForests VC LLCGeneral ManagersMaster Series LLCDelaware, per estateSeries ASeries BSeries CFideicomiso (Costa Rica)Trustee: Raíz de Oro S.A.Finca Raíz de Oro184.7 ha · Guanacaste
MembersInvestorsForests VC LLCGeneral ManagersMaster Series LLCDelaware, per estateSeries ASeries BSeries CFideicomiso (Costa Rica)Trustee: Raíz de Oro S.A.Finca Raíz de Oro184.7 ha · Guanacaste
Members commit capital into the master Series LLC, whose series draw economic rights from the fideicomiso that holds title to the land, with Raíz de Oro S.A. acting as trustee.
Contract structures
Management agreement
The operator manages; the SPV captures upside and bears operational risk.
Cash rent
Fixed or indexed rent to the SPV; operational risk shifts to the operator.
Crop-division lease
Production or gross revenue split in agreed proportions.
Blended structure
A fixed rent component plus a variable component above an agreed threshold.
The local operator
Professional management. Specialised execution.
The firm centralises origination, due diligence, structuring and asset management, but delegates productive operations to a rigorously selected and supervised local operator.
Continuous oversight.
Auditing of the management plan, monitoring of operational and financial KPIs.
Contractual protection.
Performance bonds, step-in rights and explicit removal triggers.
Governance
Transparency, alignment and control
Governance operates at three levels.
Board of Directors
FORESTS VC
Investment Committee
Validates each deal
Risk Committee
Matrix & stress test
Audit Committee
Internal control
ESG Committee
Impact & certifications
SPV Advisory Committee
Per SPV · independent · key LPs
Committee approval is required, but each LP decides to commit capital when subscribing the SPV.
Reporting & alignment
Quarterly SPV report
NAV, financials, ESG KPIs and material events.
Annual external audit
Per SPV, by a reputable firm.
Impact report
Hectares, CO₂e sequestered, rural employment.
Sponsor co-investment
GP commitment, where applicable, is set out in each deal's documentation.
Per-deal clawback
Each SPV defines its own waterfall and clawback in the deal's documentation.
Per-SPV data room
Restricted access to the asset's documentation.
Team
The people behind Forests VC
A team bringing together finance, agroforestry, real estate, legal and engineering expertise.
President / Managing Partner
Ronny Castillo
Finance, governance & business development.
Secretary / Chief Investment Officer
Marco Zúñiga
Real estate & business development.
Treasurer / Investor Relations / ESG
Kimberly Lacayo
Strategy, ESG/CSR, capital positioning & partnerships.
Agroforestry Director
Javier Esquivel
Agroforestry, agriculture & natural capital.
Board Member / Risk, Compliance, Legal & Regulatory
