After a big boom, VC investment into Latin America has cooled.
Driven by the pandemic, investors and startups tapped into a digital transformation in a market of over 600 million people. VC-backed companies raised $3.27 billion across 952 deals in 2023, according to PitchBook data. That represents an 80% decline in deal value from the record $16.3 billion raised in the region in 2021.
Fintech has continued to lead the way in Latin America. Kapital, a Mexico City-based banking technology provider for small and medium-sized businesses, raised $165 million in December. Brazilian banking infrastructure specialist QI Tech reached unicorn status in April after adding a $50 million extension to its $200 million Series B in October.
Local firms have taken on renewed importance following the retreat of large crossover investors like SoftBank and Tiger Global.
These are the 10 most active VC investors into Latin America since 2019.
Featured image by Marco Bottigelli/Getty Images
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