European Investors in LatAm Startups

February 26, 2018

European  investors are playing an increasingly active role in financing Latin American startups, co-investing alongside local and global investors across a range of stages and sectors, with a tendency towards fintech and edtech deals.

Atomico, Bamboo Finance, Global Founders Capital and Vostok Emerging finance have been most active since 2013 in terms of deal count. Vostok Emerging Finance is concentrating its investments in Brazilian fintechs (Creditas, GuiaBolso and Nibo), syndicating deals with local investors Redpoint eventures, KaszeK Ventures, e.Bricks, and international funds Valor Capital and QED Investors, among others.

Seaya Ventures, Core Ventures Group and Bamboo Finance are making early-stage investments in Mexican fintechs (ComparaGuru, Kueski, kubo.financiero).

Also notable are several edtech transactions, including Seaya Ventures’ US$6.6m Series A in Yogome, a Mexican edtech startup that makes kids games for the iPad, with participation from Variv Capital and Endeavor Catalyst; and Amadeus Capital’s US$7m Series C investment in Brazilian edtech Descomplica.

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HIGHLIGHTED EUROPEAN INVESTMENTS IN LATAM STARTUPS (2013-2017)

Startup Startup HQ Sector Stage* Investor(s)
ComparaGuru Mexico Fintech Early Nova Founders Capital; Seaya Ventures
Creditas Brazil Fintech Expansion Vostok Emerging Finance
Descomplica Brazil Edtech Expansion Amadeus Capital
GuiaBolso Brazil Fintech Growth Vostok Emerging Finance
Gympass Brazil Marketplace Expansion Atomico
InstaCarro Brazil Marketplace Early Global Founders Capital; Hummingbird Ventures
Jampp Argentina Adtech & Marketing Early Highland Europe
Kubo Financiero Mexico Fintech Early Bamboo Finance
Kueski Mexico Fintech Early Core Ventures Group
MovileRed Colombia Financial Services Growth Bamboo Finance
Nibo Brazil Fintech Early Vostok Emerging Finance
Trocafone Brazil e-commerce Expansion Sallfort Privatbank
Yogome Mexico Edtech Early Seaya Ventures

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DATA METHODOLOGY

Investments took place during the period 2013-2017 and include verified LAVCA Industry Data on fund manager transactions, as well as other investor types from public sources.

This information has been gathered from sources believed to be reliable and from secondary sources that were checked whenever possible, but its accuracy and completeness are not guaranteed. LAVCA shall not be responsible for any inaccuracy unintentionally included in this publication. Readers should consult and rely solely on their own advisers regarding all pertinent information, legal, and accounting issues.

*Investments include the following stages:

  • Seed/Incubator: Startup capital for companies to incubate an idea into a company or product.
  • Early Stage: Startup capital for companies.
  • Expansion Stage: Capital for companies that have reached a sustainable level of development and may be shipping products.
  • Growth Financing: Non-control equity investment in an existing company to finance growth strategy.
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MADE POSSIBLE WITH SUPPORT FROM

LAVCA’s gender diversity research is made possible with support from IDB LAB, Member of the IDB Group. Access information about WeXchange, a forum hosted by IDB LAB that connects high growth women entrepreneurs in LatAm with investors and mentors.

Methodology

This list includes 114 senior-level women investment professionals who are deploying capital in early and growth stage tech deals in Latin America, as well as notable women angels investing over USD50k across multiple deals in the region in the past two years. All investors were vetted for inclusion by LAVCA Research.

Every year since 2016, LAVCA solicits nominations of top women investors in tech from the investment community. The inaugural list included 37 investors; the 2017 list added eight new investors. In 2018, complementing the peer nomination process, LAVCA reviewed the investment teams of all active Latin American VC funds, producing a list of 82 senior-level and 47 mid- and junior-level investment professionals. In 2019, those numbers jumped to 88 and 87, respectively, and increased to 103 and 97 during 2020.

NOMINATE AN INVESTOR

This list is not exhaustive; if you know of a junior- or mid-level investment professional working on Latin American tech deals who should be on this list, contact [email protected].

TOP WOMEN INVESTING IN LATIN AMERICAN TECH

LAVCA’s companion list of Top Women Investors in Latin American Tech includes 114 senior-level women investment professionals who are deploying capital in early and growth stage tech deals.