LAVCA has just released its annual list of Top & Emerging Women Investors in Latin America.

These lists include 196 senior-level and 306 junior-level women investment professionals, representing a 37% and 66% increase, respectively, over 2023.

NEW:This year, for the first time, the Top and Emerging lists expand beyond venture capital to include prominent women in private equity, infrastructure and real estate.

CONGRATS: Ten women from last year’s Emerging Women Investors list now hold senior-level roles and are featured in our Top Women’s list: 

• Sullyen Almeida (monashees) 
• Gabriela de Salles van der Linden (AGGIR Ventures)
• Hida Lambros (Honey Island Capital)
• Lucia Montalvo Castro (Salkantay Ventures) 
• Elisa Pereira (39A Ventures)

• Anna Piñol (NFX)
• Fabiola Quinzaños (monashees)
• Javiera Rivera (SDK Impact)
• Adriana Saman (Clocktower Ventures)
• Camila Vieira Fernandes (QED Investors) 

Deals

▸ CloudWalk, a Brazilian POS and blockchain-based payments platform for entrepreneurs and SMEs, raised USD444m through a FIDC (Fundo de Investimentos em Direitos Creditorios) structured by Itaú BBA. 

• Coatue led a USD150m Series C in November 2021 and a USD190m Series B in May 2021. 

▸ CROSSBORDER | Nubank led a USD250m Series D for Tyme, a South Africa-based digital bank with operations in the Philippines, with participation from M&G Catalyst.

• Nubank committed USD150m to the round, while M&G Catalyst contributed USD50m. 

▸ Sapphire Ventures led a USD120m Series C for TRACTIAN, a Brazilian industrial equipment maintenance management platform, with participation from NGP Capital and follow-on from General Catalyst and Next47.

• General Catalyst led a USD45m Series B in August 2023; Next47 and YC led a USD15m Series A in May 2022; DGF Investimentos led a ~USD3.4m round in June 2021.

▸ CLEANTECH | John Doerr (Kleiner Perkins) led a USD58m Series A for Terradot, a Brazilian-American climate tech focused on carbon removal, with participation from Valor Capital Group, Microsoft, Google, Cisco, Kleiner Perkins, Floodgate, Acre Venture Partners, Gigascale Capital, Ponderosa Ventures, Sheryl Sandberg (Meta), Tom Bernthal (Kelton Global) and George Roberts (KKR).

▸ HRTECH | Headline led a ~USD50m Series B for Buk, a Chilean employee management platform, with participation from Endeavor Catalyst, Base10, Workday, and follow-on from Greenoaks.

• Base10 Partners and Greenoaks invested USD35m in February 2023; Buk raised a USD50m Series A in October 2021.

▸ HEALTHTECH | Prudential Financial International invested ~USD32.5m in Fully Ecosystem, a Brazil-based health and wellness platform.

▸ ALIVE Ventures led a USD29m round for FinMaq, a Colombian digital lending platform, with participation from 30N Ventures, Accial Capital and Iris Bank.

• FinMaq raised a USD23.5m round from undisclosed investors in June 2023.

▸ KASZEK led a ~USD25.7m Series B+ for Zig, a Brazil-based payments system designed for events.

• Zig raised ~USD21.4m round from Cloud9, Across Capital and Endeavor Scale-Up Ventures in April.

▸ Prima, a Mexico-based manufacturing and supply chain integrator, raised USD23m from Quona Capital, NAZCA, Canary, NXTP, Picus Capital, Endeavor, Fluent Ventures, K50 Ventures, Greenoaks, Marathon Ventures, Acrew, Box Group and WTI.

▸ Andreessen Horowitz led a ~USD17.2m round for Resend, a US-based email marketing solutions platform, with participation from Ali Rogani (Pixar) and Eric Muntz (Mailchimp).

▸ HEALTHTECH | Kfund led a USD13.5m round for Sofía, a Mexican digital health insurer and telemedicine platform, with participation from IDB Lab, and follow-on from Index Ventures and KASZEK. 

• Index Ventures led a USD19m Series A in November 2020

▸ BIOTECH | Nintx, a Brazilian pharmaceutical research startup, raised a USD10m Series A from Pitanga, Ecoa Capital, MOV Investimentos, FINEP, Tiaraju and Adeste.

▸ HEALTHTECH | Mundi Ventures and StoneX co-led a ~USD9.8m Series B+ for Sami, a Brazilian healthcare plan management platform for SMEs, with participation from Enseada Family Office, and follow-on from monashees, Valor Capital Group, Redpoint eventures and DN Capital.

• Angels participating included Paulo Veras (99), Ricardo Villela Marino (Itaú), Kevin Efrusy (Accel) and Nemer Rahal (Mindset Ventures). 
• Redpoint eventures and Mundi Ventures led a USD18m Series B in June 2023; UK-based DN Capital led a ~USD19.8m Series A+ in January 2022; Valor Capital Group and monashees led a ~USD15m Series A  in October 2021.

▸ Mouro Capital led a USD9m round for Colektia, a Chile-based enterprise debt collection platform, with participation from Endeavor, Full Spectrum Capital, Anteris and undisclosed angels. 

• Colektia raised an undisclosed equity and debt round in March 2023; Angel Ventures and NAZCA led a USD4.2m Series A in February 2021. 

▸ CVC | L4 Venture Builder and Vivo Ventures led a ~USD7.5m Series A for Klubi, a Brazilian consortium lending platform for vehicle financing.

• Vivo Ventures led a ~USD6m round in December 2022; Igah Ventures led a ~USD6.5m round in October 2021.

▸ PROPTECH | Bewater invested ~USD7.1m in Trinus Co, a Brazilian holding company focused on connecting the real estate market to the financial market.

• Headline led a ~USD14.5 Series B in December 2023.

▸ EL SALVADOR | Fulgur Ventures led a USD5m seed round for JAN3, an El Salvador-based Bitcoin wallet, with participation from Grupo Salinas, Tether, Lightning Ventures, East Ventures, Plan B Fund, Bitcoin Opportunity Fund and NYDIG.

▸ HEALTHTECH | Andreessen Horowitz and QED Investors led a USD4.3m pre-seed round for Carecode, a Brazilian AI-based call center for healthcare companies, with participation from Endeavor Catalyst, Latitud Ventures, K50 Ventures and KDX.

• Angels participating included David Vélez (Nubank), Assaf Wand (Hippo), Federico Vega (Frete.com), Mike Dixon (Transformation Cap), Luiz Cláudio Nascimento (dr.consulta) and Juan Vergara (dr.consulta).
• Co-founder Thomaz Srougi also founded dr.consulta, a Brazilian medical network for low-income patients.

▸ monashees led a USD3.85m round for Vambe, a Chilean conversational AI platform, with participation from NAZCA and M13.

▸ Cometa led a USD3.5m seed round for Numia, an Argentina-based customer service management platform, with participation from MatterScale Ventures and Boost Capital Partners.

▸ Fuel Venture Capital led a USD3.5m seed round for Leap Financial, a US-based cross-border payments platform, with participation from Ascendo Venture Capital. 

▸ PROPTECH | SRM Ventures to invest ~USD3.2m in ObraBank, a Brazilian real estate credit platform.

▸ CRYPTO | Ego Death Capital led a USD3m seed round for Bipa, a Brazilian digital crypto wallet.

• Bipa raised a ~USD1.5m seed round in July 2023.

▸ Brick & Mortar Ventures led a USD2.5m round for Buildpeer, a Mexican construction management platform, with participation from Conexo Ventures and Inception.

▸ Norte Ventures led a ~USD1.6m pre-seed round for Nexa Finance, a Brazilian alternative investments platform, with participation from Patrick Sigrist (iFood) and Marcelo Sampaio (Hashdex).

▸ EDTECH | Invexor Venture Partners led a USD1.6m round for Yourney, a Chilean executive coaching platform, with participation from Bernardo Quinn (Telefónica), Hernán Orellana (BCI) and Karina Awad (Grupo Axxo).

• Invexor Venture Partners led a USD800k round in October 2022.

▸ 4Equity Media Ventures invested ~USD1.6m in Rhino, a Brazilian armored car service. 

▸ Cofers, a Mexican corporate treasury management platform, raised USD1m from Cracks Fund and undisclosed investors. 

▸ HEALTHTECH | Archo Medical, a Brazilian startup focused on vascular disease treatments, raised ~USD825k from undisclosed investors. 

▸ INSURTECH | Airbag, a Mexican traffic safety startup, raised USD750k from Grupo Flecha Amarilla, Carabela Ventures and undisclosed angels, with follow-on from Impacta VC. 

• Impacta VC led a USD700k round in June 2023.

▸ BIOTECH | Uruguay Innovation Hub and The Ganesha Fund invested in Eywa, a Uruguay-based mental health biotechnology startup. 

▸ SECURITY | BR Angels invested ~USD250k in Minds Digital, a Brazilian biometric-based identity verification platform for financial transactions.

• BR Angels invested ~USD300k in August 2022.

▸ IMPAQTO Capital invested in Quenco, a Peruvian platform connecting small farmers with food businesses and in tuGerente, a Bolivian financial management platform for SMEs. 

▸ CVC | Natura Ventures invested in Abbiamo, a Brazilian route optimization platform for last-mile delivery.

• Randon Ventures invested in February 2021.

▸ ANGEL | Urca Angels led a ~USD527k round for Conta Comigo Digital, a Brazilian payments platform.

▸ Screen Capital invested in 7395 media, a Chilean audiovisual media platform. 

▸ BR Angels invested ~USD430k in The Men's, a Brazilian e-commerce platform for men's products.

▸ Comunitá invested ~USD162k in Alloy, a Brazilian marketing platform for restaurants. 

▸ BBVA Spark invested in Plurall, a Colombian credit platform for microentrepreneurs. 

▸ BTG Pactual invested in Beegol, a Brazilian internet service solutions platform. 

Funds

▸ DGF reached a ~USD33.33m first close for DGF VIII, its eight flagship fund with a ~USD50m target to invest in Latin American startups with a core focus in Brazil. 

• 80% of previous LPs committed to the new vintage, per Founding Partner Sidney Chameh. 
• DGF's recent investments include TRACTIAN, Data4Sales, Visio.ai, Rocket.chat and Cargo Sapiens. 

▸ big bets reached a ~USD25m first close for its second flagship fund with a target of ~USD50m to invest in early-stage startups in Brazil. 

• Spectra Investments anchored this second fund with a ~USD10m commitment, continuing its relationship with the firm built since Fund I. 

▸ AGTECH | SP Ventures reached a ~USD22m first close for AGVIII, its third fund with a USD80m target to invest in startups developing solutions to improve the environmental footprint of food production and distribution. 

• SP Ventures recent investments include Agrolend, Gênica, GoFlux, Verqor, Arado and Erural. 

▸ LP | DFC made a USD14m commitment to DNA Capital VC II, DNA Capital’s second flagship fund with a USD100m target to invest in early-growth healthcare startups in Brazil.

• DNA Capital’s latest investments include Piwi, Beep Saúde, Sanar, Cíngulo and Memed. 

▸ BTG Pactual’s boostlab will increase its investment to early-stage startups up to ~USD400k in 2025 in partnership with Endeavor. 

• BoostLab hosted its 2024 DemoDay in Q3 2024 with leading investors and executives in attendance. The four startups invested by BTG Pactual during the year that participated in Batch 2025.

▸ WEB3 | Sunrise Ventures reached a ~USD10m final close to invest in early-stage AI, Web3 and blockchain startups operating in Brazil.

• Sunrise Ventures was co-founded by Diego Dias (Solana Foundation).

▸ FoF | Ruta N launched Medellin Venture Capital, a fund of funds to invest in the next generation of venture managers in Colombia.

People and Programs

▸ AMEXCAP will host 2025 Mexico VC Day on 6 February in NY. Registration is now open.

▸ RAISE Global will host the inaugural edition of RAISE LATAM 2025 in Costa Rica on 21 March. GPs can apply to attend; LPs can request an invitation. 

▸ Antler is now accepting applications for its 10-week 2025 entrepreneur residency in São Paulo, starting February. 

• The residency is designed for individuals at the early stages of their founder journey, from those without a clear business idea to those with an MVP. 
• Interested (future) founders are welcome to apply. 

Global Tech

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