Latin America - A Startup and Venture Frontier - 2024 Report

We are formally launching our tech sector coverage in Latin America, an ever-evolving region we have previously been active in (e.g. advising GoTrendier on their series B), and see great opportunities going forward.

Latin America has now a booming $526B ecosystem, and local startups scale at a rapid pace. Unicorn "mafias" (like Rappi) are creating new generations of founders, with world's leading investors allocate capital in the rising stars of Latin American tech.

In our launch report, together with Dealroom, we analyze the state of a private and public tech ecosystem in LatAm, supported by expert views from Latin America's leading founders and CEOs including Vexi, Awto, Reba, Ohana, Tpaga and more.

Report summary:

• $3.9B in venture capital was invested in the region in 2023
• Most active investors include Kaszek, Hi Ventures, Cometa, FJ Labs, DOMO.VC, bossa invest, Kaszek, Valor Capital Group, Monashees
• Challenges for the region remain. LatAm remains underinvested. And it still has an exit problem.
• Three of the world's top 10 rising star ecosystems are in LatAm: Curitiba, Bogotá & Belo Horizonte.
• Local PE scene yet to develop within TMT sector, most high-profile deals done by international investors
• Public markets led by Nubank and Mercadolibre, no IPOs in recent years, but strong pipeline