Survey with Entrepreneurs: Spanish-Speaking LATAM (Spectra Investments)

Summary

• VC investment in Latin America stabilized at US$4.3 billion in 2025, down from roughly US$16 billion in 2021.p.1
• The study is based on responses from 139 founders surveyed between September and October 2026 across Spanish-speaking Latin America.p.2
• SaaS and fintech founders account for 72% of the respondent sample (40% SaaS and 32% Fintech).p.2
• Team quality is the most valued trait of a respected VC manager, whereas networking fell from 3rd place in 2024 to 12th place.p.3
• When choosing an investor, founders rank being entrepreneur-friendly first, fundraising support second, and fast investment fifth.p.4
• Kaszek, Monashees, and Valor Capital are identified as the top three most respected venture capital firms.p.5
• Assuming identical term sheets, Atlantico makes the largest jump relative to respect rankings, moving from 8th to 4th place as a preferred VC.p.6

Key insights

1. Practical execution factors like fast investment and fundraising support rank significantly higher when founders choose an investor than when they evaluate general market reputation.p.4
2. Kaszek maintains market leadership across both SaaS and Fintech sectors as the most respected venture capital firm.p.5
3. Portfolio support ratings deviate from market reputation, as NXTP and DILA score highest in direct operational support despite being outside the top 10 most respected VC list.p.6
4. Top respected angel investors include a mix of prominent regional operational founders like David Vélez and Simón Borrero alongside international investors like Peter Thiel and Elad Gil.p.7