The indie game development industry in Latin America is rapidly gaining attention for its creativity and innovation. With a mix of emerging studios and established firms, this sector produces a variety of gaming experiences, from mobile games to virtual reality adventures. As technology becomes accessible, talented developers are emerging throughout the region, further fueled by supportive investment and community engagement. Insights indicate a strong trend towards blockchain games and interactive storytelling, attracting gamers and investors alike. Events and hackathons nurture talented individuals, ensuring a fresh pipeline of skilled creators eager to break into the global gaming market.

The investors listed here represent a spectrum of types, including venture capital firms and corporate investors, predominantly headquartered in Brazil and Puerto Rico. Founded from as early as 1981 to as recently as 2021, these investors come in various sizes, with most operating with small teams. In 2024, they collectively completed numerous deals, demonstrating a keen interest in catalyzing growth within the indie game development sector, such as backing significant entries like Snackclub and Sanctor Capital established promising portfolios.

Top 12 Indie Game Development Investors in Latin America

1. bossa invest

• Website: bossainvest.com
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2011
• Headcount: 11-50
• Number of deals in 2024: 56
• LinkedIn: bossainvest

Bossa Invest is a venture capital firm based in Sao Paulo, Brazil, founded in 2011. The firm specializes in investing in innovative startups, particularly in the technology sector, and provides capital, strategic guidance, and access to a network of co-investors. Bossa Invest has been involved in several transactions relevant to the indie game development industry, including investments in QUByte Interactive, a game development studio, and Umbu Games, which focuses on creating engaging gaming experiences. These investments reflect Bossa Invest's commitment to fostering growth in the gaming sector, alongside their broader mission to empower entrepreneurs and enhance the startup ecosystem.

2. Sanctor Capital

• Website: sanctor.com
• Type: Venture Capital
• Headquarters: San Juan, San Juan, Puerto Rico
• Founded year: 2021
• Headcount: 1-10
• Number of deals in 2024: 8
• LinkedIn: sanctor-capital

Sanctor Capital is a venture capital firm based in San Juan, Puerto Rico, founded in 2021. The firm specializes in supporting early-stage projects in the Web3 space, providing mentorship and acceleration services to help founders navigate the challenges of launching their startups. Sanctor Capital has been involved in several notable transactions within the indie game development context, including a $4 million investment in Mighty Bear Games and participation in a $5 million funding round for Studio 369, the developer of the blockchain-powered multiplayer shooter MetalCore. Their focus on technology and blockchain innovators, combined with their active investments in gaming companies, positions them as a significant player in the indie game development landscape.

3. NXTP Ventures

• Website: nxtp.vc
• Type: Venture Capital
• Headquarters: Buenos Aires, Buenos Aires, Argentina
• Founded year: 2011
• Headcount: 11-50
• Number of deals in 2024: 4
• LinkedIn: nxtp-ventures

NXTP Ventures is a venture capital firm based in Buenos Aires, Argentina, founded in 2011. The firm specializes in investing in early-stage B2B startups across Latin America, focusing on sectors such as Cloud & SaaS, E-commerce, Fintech, and AI. Notably, NXTP Ventures has also invested in the indie game development sector, with significant transactions including Widow Games, which raised $280,000 in a seed round in December 2013, and TinyBytes Games, which secured $988,000 in a Series A round in July 2018. These investments highlight NXTP's commitment to supporting innovative gaming companies alongside their broader investment strategy.

4. Infinite Capital

• Website: infinite.xyz
• Type: Venture Capital
• Headquarters: San Juan, San Juan, Puerto Rico
• Founded year: 2017
• Headcount: 1-10
• Number of deals in 2024: 7
• LinkedIn: infinitecap

Infinite Capital is a venture capital firm based in San Juan, Puerto Rico, founded in 2017. The firm specializes in supporting innovative teams at the forefront of decentralized networks and deep tech, providing both capital and strategic guidance to entrepreneurs. In 2024, they participated in notable transactions such as Gunzilla Games, which raised $10 million in an Initial Coin Offering, and Dynasty Studios, which secured $55,000 in a seed round. Additionally, they were involved in funding Pixelmon, a web3 project, and Heroes of Mavia, which raised $5.5 million in a seed round. These investments highlight Infinite Capital's engagement in the indie game development sector, particularly in projects that leverage new technologies and innovative concepts.

5. Snackclub

• Website: snackclub.gg
• Type: Corporate
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2021
• Headcount: 51-200
• Number of deals in 2024: 1
• LinkedIn: snackclubgg

Snackclub is a corporate investor based in Sao Paulo, Brazil, founded in 2021. As a gaming community and esports organization, Snackclub focuses on engaging gamers through tournaments and events, providing opportunities for players to compete for crypto prizes and participate in a vibrant community centered around blockchain gaming. In 2022, Snackclub participated in significant funding rounds for various gaming projects, including a $15 million seed round for Blocklords and a $7.5 million seed round for Midnight, a gaming company based in Los Angeles. Additionally, they invested in Theia Studios, an independent game studio that raised $2.4 million. These transactions highlight Snackclub's commitment to supporting the growth of indie game development and the broader gaming ecosystem.

6. Nexo

• Website: nexo.com
• Type: Corporate
• Headquarters: Georgetown, Demerara-Mahaica, Guyana
• Founded year: 2018
• Headcount: 501-1000
• LinkedIn: nexofinance

Nexo is a financial technology company founded in 2018, specializing in digital asset management and cryptocurrency services. Based in Georgetown, Demerara-Mahaica, Guyana, Nexo offers a platform for users to buy, exchange, and borrow against cryptocurrencies, catering to both individual consumers and businesses. The company provides innovative financial solutions, including a loyalty program and corporate accounts, to enhance the management of digital assets. Nexo has been involved in several notable transactions in the gaming sector, including a $2.1 million seed funding round for Time Shuffle, which focuses on gaming, and a $7 million seed funding for Kaleidoco, a platform that integrates metaverse and AR technology. These investments highlight Nexo's engagement with the indie game development industry, particularly in projects that leverage blockchain and digital assets.

7. Canary

• Website: canary.com.br
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2017
• Headcount: 11-50
• Number of deals in 2024: 23
• LinkedIn: canary-venture-capital

Canary is a venture capital firm based in Sao Paulo, Brazil, founded in 2017. The firm specializes in early-stage investments across Latin America, providing capital, co-founding assistance, and fostering a strong community of builders. Canary has been involved in several notable transactions in the gaming sector, including investments in Joyride Games, Gamers Club, and Matchday, all of which are startups focused on gaming. Their investment strategy emphasizes supporting startups through valuable connections and resources, making them a significant player in the indie game development landscape.

8. Base Partners

• Website: basepar.com
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2016
• Headcount: 1-10
• LinkedIn: base-growth

Base Partners is a venture capital firm based in Sao Paulo, Brazil, founded in 2016. The firm specializes in investing in private technology companies, particularly in Latin America, providing both capital and strategic support to help these companies thrive in competitive markets. Notably, Base Partners has participated in significant funding rounds for gaming companies, including a $60 million Series A investment in Wildlife Studios, a prominent game developer. Additionally, they have been involved in funding rounds for Mobile Premier League, a mobile gaming platform, contributing to its Series C, D, and E rounds, which collectively raised substantial amounts. These transactions highlight Base Partners' engagement in the gaming industry, particularly in supporting companies that may include indie game developers.

9. Norte Ventures

• Website: norte.ventures
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2020
• Headcount: 1-10
• Number of deals in 2024: 11
• LinkedIn: norteventures

Norte Ventures is a venture capital firm based in Sao Paulo, Brazil, founded in 2020. The firm specializes in providing resources and support for startups in the technology sector, including consulting services, educational materials, and investment management. Norte Ventures aims to empower startups and foster innovation within the Brazilian market. Notably, they have participated in several seed funding rounds for gaming-related companies, such as Jungle, a Web3 game studio that raised $6 million for a mobile NFT shooter game, and Katapult Studios, which secured $6 million in funding. Additionally, they have invested in Falco and Jitter, further showcasing their engagement in the gaming industry. This involvement highlights their commitment to supporting innovative projects within the indie game development landscape.

10. Valhalla Capital

• Website: valhalla.capital
• Type: Venture Capital
• Headquarters: San Juan, San Juan, Puerto Rico
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn: valhalla-capital

Valhalla Capital is a venture capital firm based in San Juan, Puerto Rico, that focuses on supporting founders and builders in decentralized finance, play-to-earn, and the metaverse. They provide essential services such as capital, connections, research, and strategic guidance to help startups navigate their respective industries. Notably, Valhalla Capital has participated in significant transactions within the gaming sector, including a $2 million seed round investment in GameDAO, which aims to empower game developers through decentralized funding. Additionally, they were involved in the seed funding of Genopets, a project that merges gaming with blockchain technology, raising $8.3 million. These investments highlight Valhalla Capital's commitment to fostering innovation in the gaming space, particularly in areas that resonate with indie game development.

11. Msw Capital

• Website: mswcapital.com.br
• Type: Venture Capital
• Headquarters: Rio De Janeiro, Rio De Janeiro, Brazil
• Founded year: 1999
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn: mswcapital

Msw Capital is a venture capital firm based in Rio de Janeiro, Brazil, founded in 1999. The firm specializes in corporate venture capital management, focusing on high-potential startups, particularly in the technology sector. Msw Capital aims to enhance innovation strategies for corporations by fostering partnerships between startups and established companies. Notably, they have invested in ARVORE, a company that raised $1.5 million in a venture round, and Widow Games, which received seed funding, indicating their engagement in the gaming industry. Additionally, they led a BRL 16 million Series A investment round in Árvore Educação, showcasing their diverse investment portfolio while still maintaining a connection to technology-driven sectors.

12. Stateless Ventures

• Website: stateless.vc
• Type: Venture Capital
• Headquarters: San Juan, San Juan, Puerto Rico
• Founded year: 2017
• Headcount: 1-10
• Number of deals in 2024: 4
• LinkedIn: statelessventures

Stateless Ventures is a venture capital firm based in San Juan, Puerto Rico, founded in 2017. The firm invests in startups across various stages of their lifecycle, with a focus on sectors such as AI, crypto, and web3. Stateless Ventures provides investment and advisory services to entrepreneurs, helping them navigate the challenges of building successful companies. Notably, they participated in the seed funding round for Jungle, a Web3 game studio that raised $6 million to develop a mobile NFT shooter game, highlighting their engagement in the gaming industry. Additionally, they have been involved in other transactions, such as Layer3 and Theoriq, which, while not directly related to gaming, showcase their active investment strategy in innovative sectors.

Indie Game Development Insights: Key Investors in Latin America

Investor	Headquarter	Size	Founded	Deals 2024
bossa invest	Sao Paulo, Sao Paulo, Brazil	11-50	2011	56
Sanctor Capital	San Juan, San Juan, Puerto Rico	1-10	2021	8
NXTP Ventures	Buenos Aires, Buenos Aires, Argentina	11-50	2011	4
Infinite Capital	San Juan, San Juan, Puerto Rico	1-10	2017	7
Snackclub	Sao Paulo, Sao Paulo, Brazil	51-200	2021	1
Nexo	Georgetown, Demerara-Mahaica, Guyana	501-1000	2018	0
Canary	Sao Paulo, Sao Paulo, Brazil	11-50	2017	23
Base Partners	Sao Paulo, Sao Paulo, Brazil	1-10	2016	0
Norte Ventures	Sao Paulo, Sao Paulo, Brazil	1-10	2020	11
Valhalla Capital	San Juan, San Juan, Puerto Rico	1-10		2
Msw Capital	Rio De Janeiro, Rio De Janeiro, Brazil	1-10	1999	2
Stateless Ventures	San Juan, San Juan, Puerto Rico	1-10	2017	4

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