Last year, venture capital investment in Latin America tripled from the previous high, reaching $15 billion, as investors poured money into start-ups in fields such as financial technology, online retail, and real estate.
From Brazilian digital lender Nubank to Mexican used-car site Kavak, the area is experiencing a boom in fast-growing tech enterprises, similar to many other emerging markets.
According to preliminary data from the Association for Private Capital Investment in Latin America, or Lavca, VC investments totaled $15.3 billion in 2021, spread among more than 650 agreements.
The total amount was more than the previous seven years combined, and it is considerably above the previous high of $4.9 billion achieved in 2019.
“After more than 12 years investing in technology companies in Latin America, it is amazing for us to see what happened during the past few years,” said Francisco Alvarez-Demalde, co-founder and managing partner at US-based Riverwood Capital.
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