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

This year’s Top Women Investors list features 223 senior-level women investment professionals across private capital in Latin America, as well as notable women angel investors. 
 
The Emerging Women Investors list recognizes 350 junior- and mid-level women investment professionals actively involved in making new investments across the region’s private capital ecosystem.

Notably, seven women featured in last year’s Emerging Women list have since advanced to Partner or Partner-level roles and are now included among the Top Women Investors: 

• Ana Laura Fernandez (The Yield Lab LatAm)
• Lorena Gonzalez (UNIK VC)
• Mariana Jimenez (Amplifica Capital)
• Nicole Martinho (Indicator Capital)
• Sofia Padilla (Redwood Ventures)
• Luisa Sucre (Sunna Ventures)
• Rocio Wu (F-Prime Capital)

Congratulations to all the investors recognized this year. 

LAVCA sat down with Franklin Luzes of Microsoft Digital Natives to discuss the way in which Microsoft is partnering with companies as they figure out their AI strategy. 

LAVCA: When you look across startups you engage with, what kinds of AI use cases are already translating into revenue growth, cost efficiency or new products?

Franklin Luzes: Across the digital-native startups we work with at Microsoft, AI is already moving the needle on revenue, efficiency and invention. On the top line, healthcare innovators like RespondHealth and Canary Speech are using analytics and speech models to personalize diagnostics and care, opening new service lines and improving outcomes.

Customer engagement platforms such as Blip, Twilio and Yobi AI are rolling out conversational agents that deepen interactions and unlock upsell moments. In knowledge-intensive fields, Harvey and Visier are embedding generative AI assistants into legal and workforce analytics, turning expertise into product features and fresh monetization paths.

This is the final edition of the Venture Bulletin for 2025. We will resume a biweekly frequency in 2026 after a brief break over the new year.

▸ Mexico-based fintech Plata secured a credit financing facility for up to USD500m from Nomura. 

• Kora led a USD250m Series B for the company in October 2025 at a reported USD3.1b valuation, after leading a USD160m Series A in March at a USD1b valuation. 

▸ Community Investment Management (CIM) provided a USD100m credit line for Jeeves,  a Latin America-based B2B payments and corporate card platform. 

• CIM provided another USD75m credit facility in May 2024. 

▸ Clara, a Mexican startup offering corporate expense management, secured USD70m in credit lines from BBVA Spark, Covalto and the IFC. 

• Clara raised a USD80m equity and debt round in April; Clara secured a credit line of up to USD150m in August 2022; Coatue led a USD70m Series B in December 2021 at a USD1b valuation. 

▸ Mercado de Recebíveis, a Brazilian card receivables startup, raised USD28m through a FIDC (Fundo de Investimentos em Direitos Creditorios).

• Headline invested in August. 

▸ monashees led a USD14m Series A for Vambe, a Chilean conversational AI platform, with participation from Cathay Latam, Atlantico, Tekton Ventures and follow-on from Chile Ventures, SkyDeck Berkeley, NAZCA and M13.

• monashees led a USD3.85m in December 2024. 

▸ CRYPTO | Paradigm invested USD13.5m in Crown, a Brazilian digital crypto wallet.

• Framework Ventures led a USD8.1m round in October. 

▸ BHub, a Brazilian accounting and financial management platform for SMEs, raised USD10m from the IFC, monashees, Valor Capital Group, Hedosophia and Next Billion Capital Partners. 

• The IFC led a ~USD13.5 round in September 2024; Moore Capital led a ~USD8m Series A+ in September 2022; monashees and Valor Capital Group led a USD20m Series A in January 2022.

▸ EDTECH | 6 Degrees Capital led a USD7.5m Series A for Luca, a Mexican on-demand video courses platform for elementary and high school students, with participation from Explorer and follow-on from Heartcore Capital and Shilling VC. 

• Luca raised a USD3m pre-seed round in February. 

▸ Zenda led a ~USD6.3m round for Caveo, a Brazilian accounting software for doctors, with participation from ONEVC, Enseada, Norte Ventures, Endeavor Brasil, Valutia and Saison Capital. 

▸ Klubi, a Brazilian consortium lending platform for vehicle financing, raised a ~USD6m Series A+ with follow-on from Patria Investments, L4 Venture Builder and Cyrela Ventures. 

• L4 Venture Builder and Vivo Ventures led a ~USD7.5m Series A in December 2024; Vivo Ventures led a ~USD6m round in December 2022; Igah Ventures led a ~USD6.5m round in October 2021.

▸ Astella Investimentos led a ~USD5m round for Lastlink, a Brazilian online education platform for influencers, with participation from BTG Pactual and Endeavor Scale-Up Ventures. 

▸ ONEVC led a ~USD3.7m round for FlyMedia, a Brazilian startup focused on developing digital characters, with participation from big_bets, Alter Global, A16z Scout Fund, Norte Ventures, Hypersphere, Verve and FJ Labs.

▸ BIOTECH | Phage Labs, a Chilean biotech developing alternative disease treatments to control cattle sickness, raised a USD3.5m round with follow-on from KASZEK.

•  The Yield Lab Latam invested in March; Phage Labs raised a USD11m round in January 2024; KASZEK and Humboldt Fund led a USD30m round in June 2021.

▸ PROPTECH | Parceiro Ventures led a ~USD3.1m round for Morada.ai, a Brazilian real estate marketplace.

▸ Alaya Capital led a USD2.5m round for Ximple, a Mexico-based digital financial services company for the underbanked.

• Ximple raised a USD2.7m pre-seed round in June. 

▸ Screen Capital leads USD2.5m Series A for Versatile Communications, a Chilean audiovisual production company. 

▸ Hi Ventures led a USD1.8m round for Cenit, a Chilean tax management platform. 

▸ Verve Capital and Norte Ventures led a ~USD650k round for FlowCredi, a Brazilian marketplace for home equity loans. 

▸ W23 Global invested in Topsort, a US-based advertising solutions platform.

• Upload Ventures led a USD20m round in March 2024.
• Topsort was founded by Chilean Francisco Larraín.

▸ Acrux Capital invested ~USD185k in Atlantikos, a Brazilian vegan products marketplace.  

▸ Amplifica Capital invested in MiSalud Health, a US-based bilingual healthcare management platform. 

▸ EXIT | Clout Capital and BTG Pactual exited ComunidadFeliz, a Chilean proptech, through a USD70m to Visma, a Norwegian cloud-based solutions platform.

▸ SITUATIONAL AWARENESS | Jüsto, a Mexican grocery delivery platform, announced it will cease operations citing a mix of financial, operational and strategic factors.

• General Atlantico led a USD50m round in October 2024 after leading a USD152m Series B in April 2022 and a USD65m Series A in February 2021.

▸ Riverwood Capital published its Latam SaaS Survey 2025, a mapping of ~150 SaaS companies across Latin America to establish benchmarks across growth, retention, profitability and tech adoption. 

• Key highlights: 
  • Mature Saas companies in Latin America are growing 30% y-o-y on average. 
  • Over 50% of surveyed LatAm SaaS companies already operate profitably, with top-quartile performers achieving competitive Rule of 40 outcomes relative to global peers
  • 80%+ of companies have deployed AI features and are seeing measurable gains, supported by multi-model strategies (38% use three or more LLMs) and broad adoption across product, customer support and go-to-market strategies.

▸ Vivo Ventures, Brazil-based Telefonica’s growth equity investment arm, expanded its CVC arm to ~USD78m. 

• Vivo Ventures’ portfolio includes AsaaS, Klubi, Agrolend and CRMBonus, among others. 

▸ IDB Lab made a USD3m commitment to Amador Seed Fund II, the second flagship fund of Amador Holdings, a Central America-based venture firm. 

• Amador’s venture portfolio includes Creditop, Finnecto, Tesote, Mutuus, Moonflow and Worky.

▸ Argentina-based CITES reached a USD25m first close for its second fund to invest in deeptech startups in Latin America. 

▸ K50 Ventures rebranded to Actions Capital. 

• K50’s investments in Latin America include Somos, Kueski, Fimtual, Tivita and Vammo, among others. 

▸ BluStone reached a USD12.5m final close for its second flagship fund to invest in early-stage logistics and supply chain startups in Brazil. 

Global Tech Brief

▸ Subscribe to GPCA’s Global Tech Brief, a monthly newsletter covering tech activity in Asia, Latin America, Africa, CEE and the Middle East. 

▸ LAVCA is now part of GPCA, the Global Private Capital Association, and will continue to operate as a parallel membership organization with its own dedicated team and board.