All perfect praise be to Allaah, The Lord of the worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad, sallallaahu ‘alayhi wa sallam, is His slave and messenger.
If the mentioned person uses this money to rent land for cultivation and maintains the plants till they are harvested and the harvest is sold and then you divide the profit, then this transaction is valid. You should pay the Zakah from the yield before selling it. If it is sold and the capital is free from losses and each of you knew his share of the profit of the transaction, then you should calculate your Zakah according to your shares therein. However, if it is sold before the Zakah is paid, should the value of Zakah be paid? There is a difference of opinion on this. The majority of scholars hold the view that the value of Zakah should not be paid. You should buy an amount that equals the due Zakah of the same type of yield and it should then be given to those who deserve it.
Allaah Knows best.