Overview
Flow Partners is formally launching tech sector coverage in Latin America - a region where we've already been active, advising founders such as GoTrendier on their Series B, and where we see significant future opportunities.
The region is home to a thriving $526B ecosystem where local startups are scaling rapidly. Unicorn 'mafias' like Rappi are nurturing the next generation of founders, and leading global investors are deploying capital into emerging Latin American tech companies.
Produced with Dealroom, the launch report examines both private and public tech ecosystems across LatAm, incorporating perspectives from prominent regional founders and CEOs including Vexi, Awto, Reba, Ohana, and Tpaga.
Key findings
- $3.9B of venture capital invested regionally in 2023.
- Most active investors include Kaszek, Hi Ventures, Cometa, FJ Labs, and others.
- Persistent regional challenges remain - underinvestment and exit obstacles - though three LatAm ecosystems rank among the world's top 10 rising stars: Curitiba, Bogotá, and Belo Horizonte.
- The local PE landscape remains underdeveloped within TMT, with international investors dominating high-profile transactions.
- Public markets are anchored by Nubank and Mercadolibre, with no recent IPOs but a robust pipeline ahead.
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