Aqua Capital, a private equity firm focused on growth investments in mid-market companies in Latin America, has held a first close for its second fund, Agribusiness Latin America Fund II, with US$188 million in capital commitments. Investors in the fund included United States-based endowment University of Texas Management Company and development finance institution DEG. The fund, which is reportedly targeting US$300 million, will make investments in the food and agribusiness sectors.