We have not seen any IPOs at the B3 - regardless of industry - since 2021. When do you expect to see tech IPOs again on São Paulo’s B3 stock exchange? The recent spike in inflation has not changed our strategy as we expect these ups and downs in the market. We also strive to unpick underlying fundamental growth from “empty calorie” inflation growth in our diligence.Īs we invest off our balance sheet, we’re not constrained by short-term exit requirements and take a very long-term approach to investments. We look to mitigate inflationary impact by investing in high-growth markets and in platforms that provide outstanding value to customers. Inflation has always been a consideration in our investment decisions. For example, the CPI in Brazil, Colombia and Mexico has averaged 5% to 6% over the past couple of decades versus 2% to 3% in the U.S. Latin America has structurally higher inflation than developed markets and some other emerging markets. How does the potential slowing of inflation change your outlook for venture capital investment and fundraising for the rest of the year? The responses have been edited for length and clarity.ĭenis Pedreira, Latin America Investments, Prosus VenturesĮxcept for Argentina, inflationary pressures seem to be receding in Latin America. Hernán Haro, founder and general partner, MrPink VC.Marta Cruz, co-founder and managing partner, NXTP Ventures.Nathan Lustig, managing partner, Magma Partners.Rodrigo Vieira, partner, Caravela Capital.Julio Vasconcellos, managing partner, Atlantico.Geraldo Melzer, founding partner, ABSeed Ventures.Lolita Taub, general partner, Ganas Ventures.Denis Pedreira, Latin America Investments, Prosus Ventures.
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Read on to learn more about where these investors are placing their bets, when they think Brazil’s IPO window might reopen, how to best pitch them, and more. “Some of our best investments, including Kushki, Global66, Houm, FZ Sports and Prometeo, come from smaller Latin American markets,” the firm’s managing partner Nathan Lustig told TechCrunch+. “As regional investors, we see lots of movement from countries like Colombia, Mexico, Chile and Argentina,” said Geraldo Melzer, founding partner of ABSeed Ventures.Īnecdotally, this is also confirmed by Magma Partners’ portfolio.
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“In our case,” said Marta Cruz, a managing partner at NXTP Ventures, “we could not be more confident in our investment thesis, which aims only to invest in B2B startups, with the conviction that software companies are building long-term competitive advantages in underpenetrated markets.”īecause underpenetrated markets are always a business opportunity and talent can come from everywhere, Latin America is rife with startups these days. There are a lot of pure B2B (business-to-business) plays that can address issues behind the scenes, from open banking APIs and supply chain management to vertical SaaS. Solving problems for Latin Americans doesn’t necessarily mean going B2C (business-to-consumer), though. If you’re a founder or investor and would like to participate in future surveys, fill out this form. We’re widening our lens, looking for more founders and investors to participate in TechCrunch+ surveys, where we poll top professionals about challenges and opportunities in their industry. Technologies like AI will change the way we learn in K-12, higher education and the workplace,” he told TechCrunch+. “There is a clear need for access to affordable and quality training, and traditional school models are being challenged.
“We anticipate that other colossal sectors like healthcare, logistics, communications and agriculture will experience substantial disruption in the near future,” said Julio Vasconcellos, a managing partner at VC firm Atlantico.Īnd according to Denis Pedreira of Prosus Ventures, education is also a space where technology will play a key role in closing the skills gap in the region. However, people in the region need a lot more than fintech, and startups are taking on these problems head-on. It makes sense for them to: In a region where financial inclusion has a long way to go, fintech is more innovative and impactful than one may think. More often than not, Latin America’s most interesting disruptors tackle problems related to fintech. Granted, the region is no longer minting unicorns at the pace it used to, but fewer SoftBank-backed high spenders in the region is not necessarily a bad thing, especially when there are so many cash-efficient startups willing to challenge incumbents. It would be foolish to dismiss Latin America as a has-been after the past couple years of economic turmoil.
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