Startup Ecosystem Insights 2025 (LAVCA)
Summary
- Early-stage rounds accounted for 54% of VC dollars deployed in Latin America during 1H 2025.p.3
- Emerging tech hubs accounted for 21% of new VC-backed startups in 2024-1H 2025.p.6
- Rounds for women-led startups represented 16% of deals over USD1m in 2024-1H 2025, bringing total capital raised by women-led startups since 2019 to USD9.3b across 338 rounds.p.11
- Repeat founders captured 38% of VC rounds over USD1m in 2024-1H 2025, accumulating USD12.2b across 679 rounds since 2019.p.13
Key insights
- Early-stage funding represented the majority of VC deployment in Latin America in 1H 2025, capturing 54% of total dollars.p.3
- Mexico surpassed Brazil in venture capital investment for the first time in 15 years during 1H 2025.p.4
- Emerging tech hubs outside the main five ecosystems generated 21% of new VC-backed startups in 2024-1H 2025.p.6
- Seed conversion rates to Series A plateau after three years, reaching an average three-year graduation rate of 12%.p.9
- Two-year graduation rates across seed, Series A, and Series B stages have declined in recent cohorts due to stricter selectivity.p.10
- Rounds for women-led startups accounted for 16% of deals over USD1m in 2024-1H 2025.p.11
- Repeat founders accounted for 38% of VC rounds over USD1m in 2024-1H 2025 and total USD12.2b since 2019.p.13
- Corporate venture capital funds participated in 15% of Latin American startup investment rounds over the last eighteen months.p.15
Topics and entities
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