11 November 2026

This newsletter is authored by Carlos Ramos de la Vega, LAVCA’s Managing Director of Venture Capital.

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LAVCA WOMEN

Nominations Now Open

Nominations are now open for LAVCA's longstanding annual lists of Top & Emerging Women Investors in Latin American Private Capital.

Complete the form below to nominate senior-, mid- and junior-level female investment professionals deploying capital from a GP, as well as women angel investors investing in 3+ LatAm tech startups a year.

GP nominees must actively lead or participate within the investment team at their firms in order to be eligible for consideration.

Nominations close December 2.

▸ M&A |  Itaú agreed to acquire NeoSpace, a Brazilian developer of AI foundation models for financial services, for ~USD523m. 

• Angel investors Martín Escobari (General Atlantic), Micky Malka (Ribbit Capital), Nigel Morris (QED Investors) and Hans Morris (NYCA Partners) will exit as part of the deal.
• Itaú led a USD18m round in January 2025, investing USD15m for a 15% stake at a reported USD100m valuation alongside the angels reported above.
• Itaú previously acquired Zup, a Brazilian software services company started by NeoSpace’s founders, for ~USD144m.

▸ EXIT | Newtopia VC exited Pulpos, a Mexican cloud-based business management platform, through a sale to Clip, a Mexican digital payments provider, for an undisclosed amount.

• The acquisition adds inventory management, electronic invoicing and supplier purchasing tools to Clip’s merchant offering.
• Dalus Capital, an investor in both companies, led a USD5m round for Pulpos in 2025. Pulpos raised a USD4m seed round in April 2024 from Andreessen Horowitz, H20 Capital, Latitud and Newtopia VC.
 

▸ KASZEK, Citius and DEG co-led a USD65m Series C for corporate spend management platform Clara.

• New investors included CMT Digital, Nascent VC and Michael Gilroy, with follow-on from monashees, General Catalyst, Notable Capital, Coatue, DST Global Partners, Acrew Capital, Citi Ventures, Commerce Ventures, Gaingels and Mana Ventures.
• General Catalyst’s Customer Value Fund also renewed a USD40m growth financing facility, bringing the combined financing to USD105m.
• Clara surpassed USD100m in ARR and reported more than a year of positive EBITDA.

▸ HEALTHTECH | Valor Capital Group led a ~USD14.3m Series A extension for Rivio, a Brazilian platform that uses AI to manage hospital billing and collections, with follow-on from monashees, Positive Ventures and APL Capital.

• The extension brought the Series A to ~USD32.1m at a reported valuation above USD178m.
• Valor Capital Group, monashees and Endeavor Catalyst backed Rivio in December 2025. Positive Ventures invested USD1m in February 2026.
• Rivio co-founder Ricardo Sales previously co-founded Brazilian education fintech isaac.

▸ North Island Ventures and Road Capital Management co-led a USD7m seed extension for Takenos, an Argentine stablecoin-based cross-border payments platform, with follow-on from Variant, Lattice and Reverie.

• Variant and Lattice co-led a USD5m seed round in October 2025, with participation from North Island Ventures and Reverie, among others.

▸ Accion led a USD6.5m Series A for FinMaq, a Colombian fintech that provides point-of-sale equipment financing to small businesses, with participation from Mundi Ventures and follow-on from ALIVE Ventures and 30N Ventures.

• ALIVE Ventures led the equity portion of a USD29m debt and equity pre-Series A in January 2025, with equity participation from 30N Ventures and debt financing from Accial Capital and local lenders including Iris Bank.

▸ AGTECH | Canary and Valor Capital Group co-led a ~USD5.4m seed round for Vereda, a Brazilian platform that connects agricultural input manufacturers directly with farmers and helps arrange financing, with participation from a16z Speedrun.

• Vereda is a16z Speedrun’s first agribusiness investment, according to Canary.

▸ RETAILTECH | SP Ventures led a USD5m Series A for Celes, a Colombian AI platform that helps retailers forecast demand and automate inventory replenishment, with participation from 30N Ventures, Fulcrum Global Capital and Taram Capital.

• FEMSA Ventures led a USD3m seed round in May 2024, following a USD1m seed round in July 2023.

▸ Tether led a USD5m seed round for Efy, a Panama-based provider of stablecoin-based cross-border payments and settlement infrastructure, with participation from Astor Management AG and angel investors.

• Efy plans to expand its payment corridors in Colombia, Mexico, Bolivia and Central America.

▸ Hashi, a US-based AI video platform founded by Argentine entrepreneurs, disclosed USD4m in funding as it launched operations in Chile. Investors include B Venture Capital, First One Capital and UTEC Ventures, among others.

▸ Patria High Growth invested ~USD3.6m in Klubi, a Brazilian fintech that administers group purchasing plans known as consórcios.

• Klubi raised a ~USD5.7m Series A extension in December 2025, following a ~USD8m Series A co-led by L4 Venture Builder and Vivo Ventures in December 2024.

▸ Crescera Capital and Triaxis Capital co-led a ~USD3.6m seed round for Bloquo, a Brazilian platform that helps financial institutions and enterprises settle cross-border payments using stablecoins, with participation from Lattice Capital and others.

▸ WOMEN-LED | ABSeed Ventures led a ~USD1.5m round for Revi, a Brazilian AI platform that brings together online and in-store retail data to automate marketing, with participation from GR8 Ventures and follow-on from Veredas Partners, Stamina Ventures, Verve Capital and Crivo Ventures.

• Revi was co-founded by Juliana Haddad.
• Veredas Partners led Revi’s ~USD450k pre-seed round in November 2024.

▸ G4 Educação led a ~USD980k seed round for Gaio, a Brazilian platform that helps brands and creators sell through Instagram.

▸ MOBILITY | Viatik, a Uruguayan intercity carpooling platform, raised USD600k through SAFEs from Plug and Play, Picante, Uruguay’s National Research and Innovation Agency (ANII) and angels.

▸ Rally Cap VC and Bankless Ventures co-led an undisclosed pre-seed round for Fronte, a Colombian fintech building tools for families to share and pay recurring expenses across borders, with participation from Coinbase’s Base Ecosystem Fund and angel investors.

• Fronte founder Hayden Simmons is a general partner at Rally Cap.

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