Trends in Tech 2025 (LAVCA)
Summary
- Venture capital investment in Latin America stabilized in 2024, reaching an annual total of $4.5b across 751 transactions.p.3
- Late-stage investment activity rebounded to $1.6b in 2024, representing a 55% year-over-year increase.p.3
- Local funds participated in 85% of all seed and Series A rounds in Latin America, where median round sizes were $0.5m and $10m respectively.p.5
- Latin American startups take an average of 20 months to advance to their next funding round regardless of stage.p.6
- Startups based in Brazil and Mexico attracted 70% of total VC dollars invested in the region in 2024.p.9
- VC fundraising fell to $548m across 52 Latin America-focused funds in 2024, the lowest point in eight years.p.17
Key insights
- Repeat founders secured 42% of total capital raised in 2023 and 2024, up from 23% in 2021.p.3
- Late-stage capital deployment reached $1b across Series C+ rounds in Q4 2024, the highest quarterly total since Q4 2021.p.4
- Median ticket sizes for Series B rounds dropped by 30% year-over-year to $25.5m in 2024.p.5
- Follow-on transactions accounted for 50% of all early-stage checks in 2023-2024, up from 36% between 2019 and 2022.p.6
- Ten startups in Latin America raised financing rounds exceeding $100m in 2024, compared to 6 in 2023.p.7
- Spanish-speaking Latin American startups captured 56% of VC dollars in 2024, raising 7% more capital than in 2023.p.9
- Enterprise software and IT solutions represented 36% of VC dollars deployed in Latin America in 2024.p.13
- Agtech funding grew 5.4x in dollar terms compared to 2020, reaching $200m across 42 rounds in 2024.p.14
- Out of 189 regional VC fund managers, 106 last raised capital between 2021 and 2023.p.17
Topics and entities
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