Congratulations to the 327 women included in LAVCA's annual lists of Top Women Investors in Latin American Tech and Emerging Women Investors in Latin American Tech!

Top Women Investors in Latin American Tech

This list includes 143 senior-level women investment professionals who are deploying capital in early-and growth-stage tech deals in Latin America. 

View the full list 

Emerging Women Investors in Latin American Tech

This list includes 184 junior- and mid-level investment professionals from Latin America-based firms, as well as from global firms with Latin America-dedicated investment teams.

View the full list

LAVCA continued tracking the movement of women investment professionals from junior to senior roles. Congratulations to the two women featured in last year’s Emerging Women Investors list who now hold a Partner-level role and are showcased in our 2023 Top Women list: Elizabeth Acuña(AVP Ventures)andBrenda Klinke (PIPO Capital). 

Thank you for record nominations and increasing participation from the community.

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Deals

▸ BLOCKCHAIN | Credix, a Belgium-based decentralized finance credit marketplace for Latin American fintechs, raised USD60m from undisclosed investors. 

• Credix raised a ~USD12m Series A in September 2022 and USD2.5m seed round in January 2021.

▸ CLEANTECH | monashees led a USD30m equity and debt round for Vammo (formerly Leoparda Electric), a Brazilian battery swapping startup for electric bikes, with participation from 2150 and Maniv Mobility. 

• monashees and Construct Capital led a USD8.5m round in September 2022.  

▸ QED Investors led a USD25m Series A+ for Zubale, a Mexican fulfillment services marketplace connecting independent contractors with retailers, with follow-on from NFX and Kevin Efrusy. 

• QED Investors led a USD40m Series A in April 2022; Zubale raised a USD4.4m round led by NFX in October 2019.

▸ BomConsórcio, a Brazilian marketplace enabling companies to execute secondary sales on their consortium quotas, raised ~USD19.5m through a FIDC (Fundo de Investimentos em Direitos Creditorios)

• Crescera Capital invested ~USD6m in September 2021, ~USD500k in April 2019 and ~USD700k in May 2020.

▸ RecargaPay, a Brazilian mobile payments platform, raised ~USD14m through a FIDC (Fundo de Investimentos em Direitos Creditorios) managed by Milenio Capital.

• Miami-based IDC Ventures and Madrid-based Fuel Venture Capital led a USD70m Series C in October 2021; TheVentureCity, the IFC, and Ventech led a USD22m round in 2018. 

▸ monashees led a ~USD13.2m round for Livance, a Brazilian on-demand office space provider for health professionals, with follow-on from Cadonau Investimentos and Terracotta Ventures.

• Cadonau Investimentos and Astella Investimentos led a ~USD6m Series A in June 2021; Astella invested in 2020. 

▸ PROPTECH | CondoConta, a Brazilian banking platform for condominium management, raised a USD13.2m Series A with participation from Endeavor Scale-Up, SYN Proptech and Terracotta Ventures, and follow-on from Redpoint eVentures and Igah Ventures.

• EXT Capital invested ~USD5.8m in May; Igah Ventures invested ~USD2m in November 2021; Redpoint eventures led a ~USD1.3m seed round in March 2021. 

▸ Quona Capital led an undisclosed round for Solvento, a Mexican debt financing platform for trucking companies.

• DEBT | Solvento also secured USD50m in debt from Lendable. 
• Dynamo Ventures led a USD4.5m round in December 2021. 

▸ RappiCredit, a Colombian online loan startup, raised a USD7m debt round from Almavest. 

▸ Third Prime led a USD6.5m round for Finerio Connect, a Mexican fintech offering businesses an API for enterprise account management, with participation from Alaya Capital, Visa and Bancolombia Ventures.

• G2 Momentum Capital invested in June 2020. 

▸ Astella Investimentos led a ~USD6m round for Destaxa, a Brazilian payment options platform for SMEs, with participation from Supera Capital and Endeavor ScaleUp Ventures and follow-on from Caravela Capital and Quona Capital. 

• Astella raised a USD3.1m seed round in June 2022. 

▸ KASZEK led a USD5m seed round for Brinta, an Uruguay-based crossborder fiscal payments automation platform, with participation from DST Global, 17Sigma, Broadhaven Ventures, Latitud and Gilgamesh Ventures. 

• Brinta was co-founded by dLocal alums Michel Golffed y Rodrigo Sanchez Prandi.

▸ Manutara Ventures invested in a USD5m round for Fracción, a Chilean pharmaceutical manufacturing startup.

▸ Zacua Ventures and Fifth Wall co-led a USD4.6m seed round for Construex, an Ecuador-based construction product marketplace, with participation from ABSeed and Terracotta Ventures.

▸ CLEANTECH | Solfium, a Canada and Mexico-based solar energy management platform for end consumers, raised a USD3m seed round from Redwood Ventures, RaliCap, Katapult VC, Savia Ventures and Propulia Capital.

▸  HEALTHTECH | Mucker Capital led a USD2.8m round for Koltin, a Mexican telehealth platform for older adults, with participation from Graph Ventures and Colectivo Jaguar.

▸ L4 Venture Builder led a ~USD2m Series A for Data Rudder, a Brazilian CRM and fraud prevention platform, with participation from BTG Pactual. 

• Torq Ventures, the CVC arm of Brazilian financial software platform Sinqia, invested ~USD620k in February 2022.  

▸ Medical Device Resources LTD led a USD1.7m seed round for Meddi, a Mexican digital health insurance management platform for companies, with participation from Grupo CAPEM, Irrazonable and Enlaces.

▸ Bitgov, a Brazilian credit analysis platform for government contracts, raised ~USD1.65m from Bertha Capital. 

▸ Hapi, a US-based stock market platform for Latin American clients, raised USD1.6m from Utec Ventures, Unpopular Ventures, Softeq Ventures, and Mural Capital.

• Hapi was co-founded by Peruvian Dusko Kelez 

▸ ABSeed led a ~USD1.5m seed round for Uncover, a Brazilian marketing analytics platform, with participation from Marcelo Lacerda (Fbiz).

▸ EL SALVADOR | Endless Ventures led a USD1.2m pre-Series A round for DiiMO, a Salvadoran microcredit platform.

▸ Colaboramed, a Chilean prepaid health card, raised USD1m from U-Payments, a Mastercard partner company. 

▸ WOMEN-LED |  Radar Fit, a Brazilian health and wellbeing platform, raised a ~USD1m round from WE Ventures and Hiker Ventures.

• Radar Fit was founded by Jade Utsch Filizzola.

▸ Saks, a Brazilian pension brokerage, raised USD1m from Bertha Capital. 

• Canary and Kinea Ventures co-led a ~USD5.2m seed round in March 2022. 

▸ Moonflow, an Argentinian debt collection management startup, raised a USD700k pre-seed round from Magma Partners, Salkantay Ventures, Amador Holdings and Morro Ventures. 

▸ Valutia led a ~USD600k seed round for Konsi, a Brazilian payroll loan analysis platform.

▸ Mell.ro, a Brazilian rental payment platform, raised a ~USD300k round from Quintal Ventures and Levain Ventures.

▸ Velos Ag, a Brazilian agricultural operations manager, raised ~USD285k from Acrux Capital and undisclosed investors via a crowdfunding platform.

Funds

▸ NXTP Ventures reached a USD98m final close for NXTP Fund III, its third flagship fund to invest in B2B enterprise startups in Latin America. 

• IDB Lab made an undisclosed commitment to the fund. 
• NXTP’s recent investments include Cobli, Spline, Barte, Teachy, Exactly and Quaddro.
• Congratulations to Marta Cruz, Alex Busse, Darly Bendo, Ariel Arrieta and Gonzalo Costa for the milestone.

▸ CVC | Chilean paper company CMPC launched CMPC Ventures, a USD100m CVC arm to invest in early-stage startups working in solutions for sustainable construction, new bio-chemicals and sustainable packaging. 

• CMPC Ventures’s recent investments include Pulpex, Woamy and Strong by Form.

▸ Chilean VC Impacta VC reached a USD7m final close for its inaugural fund to invest in pre-seed startups in Latin America. 

• Impacta’s portfolio includes Airbag, Betterfly, Carryt, Cuéntame, Kilimo, Lab4U and Wheel the World.

▸ HEALTHTECH | Brazilian seed stage investor IKJ Capital reached a first close for its second flagship fund to invest in longevity and mental health startups in Brazil and the US. 

• IKJ’s portfolio includes Set You, Oya Care, Bloom Care and Neomed. 

Startup News and M&A

▸ M&A | Brazilian enterprise software developer TOTVS acquired Ahgora, a Brazilian human resources management platform, for ~USD76m. 

• Invest Tech first invested in Ahgora in 2016. 
• TOTVS also acquired Lexos, a Brazilian e-commerce integration developer, for ~USD2.6m, in June this year.

▸ M&A | Digital investment platform Webull acquired Flink, a Mexican consumer trading platform. 

• Lightspeed led a USD57m Series B for Flink in 2021 after Accel led a USD12m Series A earlier that year with participation from ALLVP and Clocktower Ventures.
• Flink was co-founded by Easy Credit founder Sergio Jimenez Amozurrutia. 

▸ M&A | Nuvemshop, an Argentina- and Brazil-based e-commerce platform, acquired Perfit, a Brazilian marketing automation platform. 

• Nuvemshop launched operations in Colombia with a USD10m investment from its balance sheet a year ago. 
• Tiger Global and Insight Partners led a USD500m round in Nuvemshop in August 2021. 

▸ Conta Simples, a Brazilian corporate card issuer for SMEs, got approval from the Brazilian Central Bank to operate as a Sociedade de Crédito Direto (SCD), 

• The license will enable Conta Simples to develop credit products in-house for which it had relied on third parties in the past.
• Valor Capital Group and JAM Fund led a ~USD24.3m Series A in January 2022. 

People & Programs

▸ Congrats to the ten startups selected to participate in Rockstart’s latest accelerator program: Brincus, Cactus, Carga ya, Celes, Dodo, Linnda, Lucro, Palatierra, Sportscrowd and Swetro.

▸ Congrats to the two Latin American startups selected to participate in Cemex Ventures’ open innovation program: Introid and Movener. 

▸ Finnovista is conducting a survey to inform its IV Report of Fintech in Latin America and the Caribbean in partnership with IDB Lab. Interested investors are welcome to participate. 

▸ Congrats to the six startups that participated in BTG Pactual’s boostlab Batch 2023 Demo Day: Data Rudder, ElloX Digital, Fluid API, Lastlink, StreamShop and Turivius. 

• Applications for Batch 2024 are now open. 

▸ NXTP Ventures is looking for an Associate or Senior Associate to join its team out of its São Paulo office. Interested candidates are welcome to apply. 

▸ Capria Ventures is looking for a Senior Investment Analyst to join its team based in Mexico City or São Paulo. Interested candidates are welcome to apply. 

• Capria is also looking for an Investment Fellow to join its team in Brazil. Candidates can apply here.

Global Tech

▸ Sign up for GPCA’s Global Tech Brief, a monthly newsletter that covers tech activity in Asia, Latin America, Africa, CEE and the Middle East. 

LAVCA is now part of GPCA, the Global Private Capital Association, and will continue to operate as a parallel membership organization with its own dedicated team and board.