The test preparation industry in Latin America has seen significant growth, driven by increasing demand for quality education and competitive exam success. A diverse array of companies operates in this sector, ranging from traditional tutoring centers to innovative digital platforms that offer online courses and resources. As technology advances, many educational providers are integrating AI and interactive tools to enhance learning experiences. Unique offerings often cater to specific tests like ENEM in Brazil or language exams across the region. This evolution positions the industry for a bright future as it adapts to changing student needs and digital trends.

In the past year, a mix of dynamic venture capital and private equity firms have made strides in the Latin American test preparation sector. Predominantly headquartered in Brazil, these firms range from smaller teams to medium-sized groups, showcasing commitments to tech and education. Founded between 2004 and 2021, their activity varied, with some investing heavily in startup growth, as demonstrated by notable players like Monashees and Igah Ventures. Collectively, these investors participated in numerous deals that signal confidence in the sector's prospects, indicating a bright future for educational innovation.

Top 12 Test Preparation 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 significant transactions in the education space, particularly in test preparation. Notably, they participated in funding rounds for Descomplica, a startup that offers preparatory courses for the Enem and vestibulares, raising substantial amounts in Series D and Series E-K rounds. Additionally, they have invested in Gama Ensino and Portal Profes, both of which are involved in educational services. This focus on educational startups, especially those related to test preparation, highlights Bossa Invest's commitment to fostering growth in the education sector.

2. Monashees

• Website: monashees.com
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2005
• Headcount: 11-50
• Number of deals in 2024: 18
• LinkedIn: monashees-capital

Monashees is a venture capital firm based in Sao Paulo, Brazil, founded in 2005. The firm specializes in investing in technology-based companies across Latin America, providing not only funding but also support in areas such as talent acquisition and fundraising. Among their notable transactions, they invested in Coderhouse, an Argentinian EdTech company that raised $13.5M to expand its course offerings, which likely includes test preparation courses. Additionally, they have invested in Cambly, a platform that helps users learn English, which may also relate to test preparation for language proficiency exams. These investments highlight Monashees' commitment to the education sector, particularly in technology-driven solutions.

3. Igah, Ventures.

• Website: igahventures.com
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2011
• Headcount: 11-50
• Number of deals in 2024: 2
• LinkedIn: ebricks-ventures

Igah Ventures is a venture capital firm based in Sao Paulo, Brazil, founded in 2011. The firm specializes in seed and early-stage investments in innovative startups across various sectors, including technology, healthcare, and finance. Notably, Igah Ventures has invested in Me Salva!, an educational platform that offers resources for students preparing for exams, indicating their interest in the education sector. They also participated in the Series A funding of Sanar, a healthcare edtech startup, which reflects their broader commitment to supporting educational initiatives. Through these investments, Igah Ventures provides capital and strategic guidance to help entrepreneurs scale their businesses, fostering growth and innovation in Brazil.

4. Crescera Capital

• Website: crescera.com
• Type: Private Equity
• Headquarters: Rio De Janeiro, Rio De Janeiro, Brazil
• Founded year: 2008
• Headcount: 11-50
• Number of deals in 2024: 7
• LinkedIn: bozano-investimentos

Crescera Capital is a private equity and venture capital investment firm based in Rio de Janeiro, Brazil, founded in 2008. The firm specializes in providing growth capital and strategic guidance to mid-sized companies across various sectors, including education, technology, and health. Crescera aims to enhance operational performance and prepare companies for market opportunities. Notably, they have been involved in transactions such as Medcell, which raised funds in 2016, and Afya, which raised capital in a post-IPO equity round in 2019. While these transactions do not explicitly relate to test preparation, their focus on the education sector positions them as a potential investor in companies that may offer test preparation services or products.

5. Latitud

• Website: latitud.com
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2020
• Headcount: 11-50
• Number of deals in 2024: 24
• LinkedIn: latitude4

Latitud is a venture capital firm and startup accelerator based in Sao Paulo, Brazil, founded in 2020. The firm supports tech founders in Latin America by providing funding, mentorship, and community resources to help startups scale and succeed. Latitud has been actively involved in various funding rounds, including notable investments in the education sector. For instance, they participated in a funding round for uDocz, a Peruvian education platform that raised USD $2M, indicating their interest in educational initiatives. Additionally, they were involved in the pre-seed funding of Anyone AI, a company focused on training individuals, which aligns with educational and training objectives. These transactions highlight Latitud's commitment to fostering growth in the tech ecosystem, particularly in education-related ventures.

6. initial.vc

• Website: initial.vc
• Type: Venture Capital
• Headquarters: Brazil
• Founded year: 2011
• Headcount: 1-10
• LinkedIn: initial.vc

Initial Capital (initial.vc) is a venture capital firm founded in 2011, specializing in early-stage investments in startups located in Israel and Brazil. The firm provides not only financial backing but also strategic support in areas such as business development and public relations. Their focus is primarily on technology and e-commerce sectors, helping entrepreneurs navigate the challenges of launching and scaling their businesses. Notably, they invested in Me Salva!, an educational platform that offers various learning resources, including test preparation services, which highlights their engagement in the education sector.

7. Fuse Capital

• Website: fuse.capital
• Type: Venture Capital
• Headquarters: Centro, Rio De Janeiro, Brazil
• Founded year: 2019
• Headcount: 1-10
• Number of deals in 2024: 1
• LinkedIn: fusecapital

Fuse Capital is a venture capital firm based in Centro, Rio De Janeiro, Brazil, founded in 2019. The firm specializes in providing capital and advisory services to early-stage tech companies, with a focus on supporting entrepreneurs in developing innovative solutions within the Latin American market. One of their notable transactions includes a seed round investment of $400,000 in AIO Educacao on January 1, 2020. AIO Educacao operates in the education sector, which is closely related to test preparation, indicating Fuse Capital's potential interest in this area.

8. Kaszek

• Website: kaszek.com
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2011
• Headcount: 11-50
• Number of deals in 2024: 17
• LinkedIn: kaszek-ventures

Kaszek is a venture capital firm based in Sao Paulo, Brazil, founded in 2011. The firm focuses on investing in and supporting entrepreneurs across various technology-driven industries in Latin America. With a commitment to fostering a vibrant technology ecosystem, Kaszek provides capital and strategic guidance to startups, helping them navigate growth challenges. Notably, Kaszek has been involved in funding Open English, an online language learning platform, which raised significant amounts in Series B and C funding rounds. This involvement in educational technology highlights their interest in the education sector, which can include test preparation services.

9. Invest Tech Brazil

• Website: investtech.com.br
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2004
• Headcount: 11-50
• Number of deals in 2024: 1
• LinkedIn: invest-tech-brazil

Invest Tech Brazil is a venture capital and private equity investment management firm based in Sao Paulo, Brazil, founded in 2004. The firm specializes in supporting innovative companies by providing funding and enhancing their operational and governance structures. Invest Tech focuses on technology-driven businesses across various sectors, contributing to the growth and development of the Brazilian market. One notable transaction they were involved in is the investment in Escola 24 Horas, which raised $1,123,550 in a venture round on June 18, 2010. Escola 24 Horas operates in the education sector, which is relevant to the test preparation industry, indicating Invest Tech's potential interest in educational innovations.

10. DSK Capital

• Website: dskcapital.com.br
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2021
• Headcount: 1-10
• LinkedIn: dsk-capital

DSK Capital is a venture capital firm based in Sao Paulo, Brazil, founded in 2021. The firm specializes in private equity and venture capital, providing strategic investment and operational support to high-growth companies across various sectors, including construction, technology, health, and food. DSK Capital aims to generate sustainable returns for its investors while actively participating in the growth and governance of its portfolio companies. Notably, DSK Capital was involved in a significant transaction with Medway, an educational MedTech startup that raised $15 million in a Series A financing round. This investment highlights DSK Capital's interest in the education sector, particularly in innovative solutions that support learning and professional development, which is relevant to the test preparation industry.

11. 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. In 2023, NXTP Ventures participated in a pre-seed investment round for Teachy, a Brazilian edtech company, which raised $1.6 million to enhance its AI-powered platform. Additionally, they led a Series A investment of $7 million in Teachy in December 2024. These transactions highlight NXTP's commitment to supporting innovative educational technologies, making them a relevant player in the test preparation landscape.

12. Salkantay Ventures

• Website: salkantay.vc
• Type: Venture Capital
• Headquarters: Miraflores, Lima, Peru
• Founded year: 2012
• Headcount: 1-10
• Number of deals in 2024: 6
• LinkedIn: salkantay-partners

Salkantay Ventures is a venture capital firm based in Miraflores, Lima, Peru, founded in 2012. The firm specializes in early-stage investments in Latin American startups, particularly those that leverage technology to address critical challenges across various sectors, including EdTech, FinTech, and AgTech. In 2022, Salkantay Ventures participated in a funding round for uDocz, a Peruvian education platform that raised USD $2M. This investment highlights their active role in the EdTech space, as uDocz aims to enhance its growth and product offerings, particularly in the wake of increased demand for educational solutions during the pandemic. Salkantay Ventures provides not only capital but also strategic support and networking opportunities to entrepreneurs, further solidifying their position as a key player in the EdTech investment landscape.

Test Preparation Insights: Key Investors in Latin America

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