Latin America is a land of opportunity. That’s how investors and venture capital firms see it, as they continue to find fertile ground in the region for businesses capable of developing world-class products and services.
Behind this transformation are investors who have placed their bets on the growth of the region’s startup ecosystem. Their decisions are shaping the future of innovation in Latin America.
According to the Venture Capital and Growth Equity in Latin America report by Endeavor Mexico and Glisco Partners, venture capital funds are turning their attention back to the region after a decline in investment rounds between 2020 and 2024.
During that period, venture capital rounds in Latin America dropped by 72%. However, the report indicates that in the first half of 2024, investment in the region grew by 30%, reaching $1.1 billion—compared to the same period in 2023. This, despite the fact that the number of investment rounds fell by 63%, totaling 162.
Even with fewer rounds, the increase in capital raised suggests a stronger concentration of investments in later-stage startups and strategic sectors.
The study also highlights that, despite global economic challenges, investment in Latin America is showing signs of a slow but steady recovery.
One sector that has drawn significant investor interest—and capital injections—is artificial intelligence (AI). In terms of investment, AI has now surpassed fintech, leading with 34% of all funding rounds. Fintech, which previously held the top spot, accounted for just 17%.
The report underscores the growing maturity of Latin America’s startup ecosystem, which has led 70% of venture funds to adjust their evaluation criteria compared to 2021. Instead of chasing unicorns, investors are now focusing on building profitable and sustainable businesses.
So, who are the investors driving the startup ecosystem forward?
These 15 international investors are making bold bets on the future of entrepreneurship in Latin America. Their investments are not only fueling startups but also reshaping the region’s technological and business landscape.
Nico Berardi, Founder & General Partner, ANIMO Ventures
Nico Berardi is the founder and general partner of ANIMO Ventures, a venture capital firm founded in 2018 that focuses on early-stage investments and has backed over 70 companies.
Born and raised in Argentina, Berardi brings a global perspective to his investment approach. In his early years, he was part of the leadership team at TECHO.org, where he played a key role in expanding the organization into the largest NGO in Latin America.
He then founded Miami Angels, an angel investor network, where he discovered his passion for early-stage investing. After spending two years at Resolute Ventures, he decided to launch ANIMO Ventures with the goal of supporting innovative entrepreneurs.
In 2024, ANIMO Ventures participated in the Animo Investor Index 2024, an initiative promoting investment in Colombia, Peru, and Chile.
Berardi holds a degree in Economics from Universidad Torcuato Di Tella and an MBA from Harvard Business School.
Berardi’s philosophy: In an interview with Startupeable, Nico said: “If I can make a founder’s journey less lonely, their life will improve because their path will be less isolated and more enjoyable, which will also benefit the company”.
Carlos Baradello, Co-Founder & General Partner, ALAYA Capital Partners
Born in Córdoba, Argentina, Carlos Baradello studied at the Universidad Católica de Córdoba and later earned a master’s degree from the Eindhoven University of Technology in the Netherlands, followed by a PhD in Electrical Engineering from Carnegie Mellon University in the United States.
An investor, speaker, corporate advisor, and university professor, Baradello is a versatile executive with over 30 years of experience in the telecommunications industry, where he has held various executive roles. He was the corporate vice president for Latin America and the Caribbean at Motorola.
In 2010, Carlos co-founded ALAYA Capital Partners, a venture capital firm that invests in digital entrepreneurs across Latin America. Some of the companies he has funded include 123Seguro and the CRM platform Escala.
Baradello is also the founder and managing partner of Sausalito Ventures, a firm that helps Latin American companies scale globally.
Baradello’s philosophy: In a blog post, Baradello shares his thoughts on the effort and resilience needed to achieve success: “We all want success and to succeed every time in every endeavor we undertake, whether personal or professional. But the sweet success we all seek is more often than not the result of a tortuous path through failures, setbacks, and disappointments.”
Maria Ines De Miranda, Managing Director, The José Cuervo Foundation
Maria Inés De Miranda is the Managing Director of The José Cuervo Foundation, the philanthropic organization from global spirits producer José Cuervo.
The foundation drives social responsibility initiatives across Mexico, and recently partnered with entrepreneur Juan Domingo Beckmann, comedian Kevin Heart’s Gran Coramino, and Tecnológico de Monterrey, leading Mexican university, to launch an initiative that funds and supports Black and Latino entrepreneurs in the U.S. and Mexico.
The Coramino Fund has supported impact startups in Jalisco, Mexico, including companies that use microalgae-based technology to treat tequila wastewater and another that converts plastic waste into fuel.
She holds Master’s and Doctorate degrees in engineering and economic systems from Stanford University and previously held VP and Director roles at Mexican conglomerates including Grupo Bal and others.
De Miranda’s philosophy: Bridging academic rigor and hands-on leadership, Maria Inés aims to redefine corporate philanthropy — ensuring that The José Cuervo Foundation’s initiatives don’t just donate aid, but help to build self-sustaining ecosystems that empower communities where they operate.
Emanuel Pleitez, Investor & Co-Founder, Cap Table Coalition
This U.S.-based investor is recognized for his leadership and commitment to diversity. He has over 15 years of experience working in high performing organizations across various industries, including private equity, software, consumer internet, tech-enabled services, investment banking, management consulting, and the public sector.
Emanuel Pleitez is the co-founder of East Los Capital, a private equity firm focused on companies in the consumer, healthcare, internet, media, services, and software sectors. Among the companies that Pleitez and East Los Capital have funded and that operate in Latin America are Sabio, Caylent, and 66degrees.
Pleitez is also the president of the Hispanic Heritage Foundation and co-founder of the Cap Table Coalition, an organization dedicated to creating investment opportunities for traditionally underrepresented investors. The organization has funded brands and projects such as Candela Media, Neurable, and ModernTax.
Pleitez’s philosophy: Recently, Emanuel completed his 12th marathon. In a post from his Instagram account, he wrote a few lines that reflect his approach to challenges and life: “I take nothing for granted. You never know what tomorrow will bring or if we’ll be there for each other. Thank you to each of you who have played a role in my life and helped shape who I am.”
Andrés Barreto, Managing Director, Techstars NYC
This prominent Colombian investor and entrepreneur is recognized for his leadership in the investment ecosystem in Colombia and Latin America. He is currently the Executive Director of Techstars NYC, one of the most prestigious accelerators in the world.
Throughout his career, Andres Barreto has co-founded several companies, including Grooveshark and Onswipe, and has been an angel investor in more than 50 startups, including Ayenda, Playvox, and Hunty.
In addition to his role at Techstars, this 36-year-old executive is a global mentor at Endeavor and the founder of the Angel Partners Initiative, the first fund designed to minimize the risk of angel investments in the region.
Barreto’s philosophy: In an interview published on the Vidaentrepreneur website, Andrés shares his perspective on the challenges of entrepreneurship and the importance of resilience: “For me, entrepreneurship is something that is filled with failures and tough moments. Normally, in entrepreneurship, almost everything goes wrong. It’s the few times when something goes right that can suddenly lead you to success.”
Alex Mendez, Managing Director, Storm Ventures
Recognized for his leadership in the investment ecosystem in both Latin America and the United States, Alex Mendez is a distinguished Argentine-American investor and entrepreneur.
He is the co-founder and Managing Director of Storm Ventures, a venture capital firm focused on early-stage investments in areas such as SaaS, enterprise infrastructure, cybersecurity, and artificial intelligence.
Throughout his career, Alex has been an investor and CEO/President of Sanera Systems, a company later acquired by McData.
He was also an investor and board member of Airespace, which was acquired by Cisco.
Among the startups that Mendez and Storm Ventures have supported are Talview, Logic Hub (acquired), and Aviso.
Mendez’s philosophy: On the Storm Ventures website, Alex shares what he looks for in the startups the fund invests in (in this particular case, he talks about Logikcull, a legal data management platform): “As early-stage investors, we look for companies that have a compelling value proposition that intersects with a significant market opportunity and have an exceptional team”.
Laura González-Estéfani, Founder & CEO, TheVentureCity
Clocking an impressive career in technology and startups, before becoming an investor, Laura González-Estéfani worked at some of the world’s most recognizable tech firms including Siemens, eBay and Facebook (now Meta), where she left as the Director of International Growth and Mobile Partnerships.
Originally from Spain, Laura spent much of her career in San Francisco and founded TheVentureCity in both Spain and Miami in 2017.
TheVentureCity is a global, early-stage venture fund investing in product-centric startups across the US, Europe, and LatAm.
The fund’s team of operators-turned-investors strongly believe in a product-led growth approach, prioritizing user retention over revenue. They invest in Seed to Series-A stage startups, with tickets ranging from $100,000 to $4 million. Some Latin American startups in their portfolio include Brazilian fintech RecargaPay, Chile’s logistics startup Simpliroute and Mexican fintech Tonder.
Laura has invested in well over 100 companies. In addition to campuses in Miami and Madrid, TheVentureCity also has offices in San Francisco and São Paulo.
Determined to transform VC from the inside, Laura is an active equal rights advocate, enthusiastic about giving founders and innovation leaders the resources and support they deserve. Laura sits on the board of the European Commission’s Innovation Council, as well as the Caixabank Payments and Consumer board. In 2022, she was named a Henry Crown fellow at the Aspen Institute to help mobilize a new breed of business leaders.
González-Estéfani’s philosophy: Despite having spent a good chunk of her career in Silicon Valley, Laura is a firm believer that the world doesn’t need another one. In an op-ed for TechCrunch, the investor wrote: “The future of startups is a decentralized, global ecosystem. Where wealth and knowledge isn’t concentrated, but shared and open. Where there aren’t capitals, but networks.”
Leo Arango, Partner, One Way Ventures
This executive is a partner at One Way Ventures, a venture capital firm focused on supporting immigrant founders. Originally from Colombia, Leo Arango has built a distinguished career in the world of investments and technology.
Before joining One Way Ventures, Leo worked as a researcher at Sequoia Capital, was an investment associate at Polymath Ventures in Colombia, and served as an investor at Balyasny Asset Management, where he focused on late-stage private investments.
Arango holds an MBA from Harvard Business School and both a Bachelor’s and Master’s degree in Finance and International Economics from the University of Virginia.
At One Way Ventures, Leo focuses on financing tech startups that aim to create greater economic opportunities globally. He has collaborated with emerging companies like Claritype, Debbie and Provision.
Additionally, he leads the firm’s venture capital network management and supports fundraising efforts for the portfolio.
Arango’s philosophy: In an interview published by El Español, Leo discusses the difference in opportunities between U.S. entrepreneurs and immigrant founders: “I grew up between Colombia and the United States when I was seven. I soon began to notice the significant differences in opportunities between the two countries. In Colombia, there are many entrepreneurs, but they can’t achieve the same things as others with similar skills in the United States because they lack the necessary opportunities.”
Kosuke Mori, Managing Director, Credit Saison
Currently, Kosuke Mori serves as the Managing Director of Credit Saison, one of Japan’s leading financial institutions, where he has played a key role in the company’s expansion into Latin America.
His leadership has been instrumental in Credit Saison’s international growth strategy, particularly in the region, where he has identified significant opportunities for developing new financial products and modernizing traditional services through technology.
Under his guidance, Credit Saison has forged strategic partnerships with local companies, focusing on bridging the financial gap in the region. His approach has been centered on providing access to credit services for a consumer base that has historically faced challenges in obtaining traditional banking products.
Mori’s vision is rooted in the digitalization of financial services and the advancement of financial inclusion. He has worked closely with local institutions, governments, and tech startups to design products and services that not only align with market needs but also drive economic growth in the region. His innovative approach has positioned him as a key leader in fintech investment and development across Latin America.
Mori’s philosophy: Mori believes in the power of technology and data to transform the financial sector, enabling more individuals and businesses to access flexible and scalable financing solutions. His investment philosophy is centered on building long-term relationships with visionary founders, supporting them in their journey to create impact and drive sustainable growth.
Ravi Mhatre, Managing Director, Lightspeed Venture Partners
With over 25 years of experience in venture capital, this prolific investor is a partner and co-founder of Lightspeed Venture Partners, a leading global technology investment firm. Over the years, Ravi Mhatre has worked closely with numerous founders, helping them scale their companies to acquisitions and IPOs.
Before founding Lightspeed, he was an investor at Bessemer Venture Partners and previously worked at Silicon Graphics as a product manager and director of market development for workstations. Today, Mhatre focuses on investments in software, cloud infrastructure, applications, and the internet, driven by a strong belief in supporting passionate entrepreneurs committed to groundbreaking ideas that create meaningful impact.
Lightspeed Venture Partners, alongside Mhatre, has backed entrepreneurs such as Jessica Alba, founder of The Honest Co., as well as Latin American startups like Mexican fintech Stori and community shopping platform Muni.
Mhatre’s philosophy: In a recent interview with Inspirery, Ravi shared his perspective:
“You are your best advertising tool. You cannot rely solely on referrals and your existing network and expect to grow your business. You have to do the work. This industry is built on networking. If you want to tap into a new sector but don’t have the connections, do your research, identify key players, and learn about them.”
Monica Brand Engel, Co-Founder, Quona Capital
Monica Brand Engel is a co-founder and partner at Quona Capital, an investment fund focused on fintech startups in emerging markets, including Latin America.
With over 20 years of experience supporting the growth of the fintech sector, this investor and entrepreneur is recognized for her focus on financial inclusion and her positive impact on traditionally underserved communities.
Quona Capital has been a key player in the Latin American entrepreneurial ecosystem, investing in startups that are transforming sectors such as digital payments, alternative lending, and solutions for small and medium-sized businesses.
Among the companies it has supported are Konfío, a digital payments platform; Creditas, one of the most relevant fintechs in the region; and Kueski, a leader in online microloans.
Brand Engel’s vision has been essential in promoting business models that combine technological innovation with social impact. Her work has helped expand access to financial services for millions of people in the region, especially in unbanked sectors.
Brand Engel’s philosophy: In her profile on Quona Capital’s official website, Monica explains: “There has never been a more exciting time to be part of the financial inclusion ecosystem in emerging markets.”
Nigel Morris, Managing Partner, QED Investors
Nigel Morris is the Managing Partner and co-founder of QED Investors, a venture capital firm with a focus on fintech. Founded in 2007, QED has become one of the leading global investors in financial technology, with a key presence in Latin America.
Before launching QED, Nigel was co-founder and president of Capital One, where he transformed the credit card industry through innovation in data analytics.
In Latin America, QED Investors has supported some of the most prominent startups in the fintech sector, backing companies that are redefining access to financial services in the region.
Among the companies they have supported are: Nubank, the largest digital bank in the world by number of customers outside of Asia, which has revolutionized the banking market in Brazil; Clip, one of the leading mobile payment platforms in Mexico, which makes it easy for small and medium-sized businesses to accept credit and debit card payments; and Finaktiva, a platform providing financing solutions to startups and SMEs to help them scale their operations.
Morris has been a strong advocate for financial innovation as a driver to reduce inequality and create economic opportunities.
Morris’ philosophy: In an interview published on QED Investors’ blog, Nigel explains: “We keenly focus on talent. To build conviction around an investment, the company must have amazing leadership. This means that management is balanced and transparent, open to advice, and focused on unit economics. After all, fintech is hard, and we strive to work with CEOs who innately understand this. Founders who think they know all the answers are subject to stumble. We focus on companies who are unrelenting. Fintechs need to push through constant challenges in order to be true disruptors.”
Meyer Malka, Founder, Ribbit Capital
Meyer Malka is the founder of Ribbit Capital, a venture capital fund focused on fintech, which has played a key role in driving financial innovation globally.
Ribbit has been recognized for backing companies that are changing the way consumers and businesses interact with financial services. Its impact has been particularly noticeable in Latin America, where it has invested in startups addressing financial challenges through disruptive technology.
With a long-term vision and a focus on value creation, Meyer has been a strong advocate for startups that not only seek to transform the financial sector but also aim to create inclusive and accessible solutions for the unbanked.
Among the leading companies Ribbit Capital has backed in the region are QuintoAndar, a property rental platform that simplifies the search and contracting of rentals in a fully digital manner, and Ualá, a fintech offering a prepaid card and an app for managing money, focused on the unbanked market.
Malka’s philosophy: In an interview with Vintage, Meyer stated: “In many parts of the world, financial services are inaccessible, unaffordable, or simply inadequate. We’re seeing an incredible opportunity to solve these problems and provide more people with better financial access.” (Image credit: https://ribbitcap.com/team/)
Bill Ford, Chairman & CEO, General Atlantic
Bill Ford is the Chairman and CEO of General Atlantic, a global investment firm that specializes in supporting growth-stage technology companies.
Founded in 1980, General Atlantic has become a key player in the private equity industry, focusing on companies that are transforming sectors such as technology, financial services, healthcare, and consumer tech, among others.
Under Ford’s leadership, General Atlantic has expanded its presence in Latin America, investing in companies that are innovating across various fields.
Among the startups supported in the region are the digital payments platform dLocal, which facilitates payments in emerging markets, and LiveMode, a distribution, content production, and revenue generation platform for sports entities.
Ford’s philosophy: The Milken Institute’s website highlights a quote that reflects Bill’s vision on entrepreneurs and the role they play in the world: “Entrepreneurship, innovation, and globalization can be powerful forces for good in the world, and I am optimistic about the ability of technology to drive inclusive growth.”
Adeyemi Ajao, Managing Partner, Base10 Partners
He is the Managing Partner of Base10 Partners, a venture capital fund focused on technology and creating a positive impact on the economy.
Adeyemi Ajao has a clear vision of how capital can transform the business and tech landscape, aiming to empower companies leading innovation in various sectors, particularly those related to financial inclusion and sustainability.
Base10 Partners has been key in supporting startups looking to change the game, especially in emerging markets.
In Latin America, they have backed companies such as Buk, a fintech that offers solutions for people management, and Nowports, a platform that allows businesses in the region to automate their international logistics processes by digitally booking, shipping, and receiving ocean and air freight containers.
Ajao’s philosophy: In a post on his Medium page, Adeyemi writes: “Let’s face it: No one wants to lose their job to a robot. However, everyone wants to be great at what they do. Technology can help, but we need the right kind of automation, led by the right kind of founder.”
Clifford Sobel, Founding Partner, Valor Capital Group
Clifford Sobel is the founding partner and CEO of Valor Capital Group, a growth capital and venture capital firm focused on cross-border opportunities between the United States, Brazil, and Latin America.
Before founding Valor in 2011, Sobel served as the U.S. Ambassador to the Netherlands and Brazil during the administrations of George W. Bush and Barack Obama.
Over the years, Valor Capital Group has supported various startups in the Americas including Nextdoor, a social networking platform focused on connecting neighbors and local communities; Rocket.Chat, an open-source team communication platform; and Satellogic, a satellite company that provides high-resolution images of our planet.
Sobel’s philosophy: Although there is no specific direct quote available, his track record and the investments of Valor Capital Group demonstrate a commitment to innovation and economic development in Latin America. (Image credit: https://www.valorcapitalgroup.com/team/amb-clifford-sobel)
Image credits: All images via LinkedIn unless otherwise noted.
Disclosure: This article mentions clients of an Espacio portfolio company.
