The health insurance industry in Latin America comprises Brazilian, Chilean, and Colombian players committed to improving health access through various insurance products. Companies range from startups focusing on digital health solutions to well-established insurers. They offer services such as medical coverage, health management programs, and digital platforms for care coordination. With an increasing emphasis on technology and customer-centered solutions, the sector is expected to evolve rapidly, integrating innovations like telemedicine and AI-driven health services. As the region grapples with healthcare accessibility issues, investors are keen to support initiatives that can bolster the health landscape, ultimately benefiting both providers and patients.

The investors featured in our list span venture capital firms and corporate entities, predominantly headquartered in Sao Paulo, Brazil. Established between 2011 and 2020, these organizations include small teams with up to 50 employees. In 2024, they collectively invested in 225 deals, showcasing their commitment to new health insurance technologies and services. Reflecting the growing entrepreneurial spirit in Latin America, these players are defining the future of health insurance funding while providing crucial support for innovative startups.

Top 13 Health Insurance 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 active in the health insurance context, with notable investments including Lively, which raised a total of $4.2 million in a Seed Round and an undisclosed amount in a Pre-Seed Round, focusing on health savings accounts and insurance solutions. Additionally, they invested $60 million in Eden Health during a Series C round, a company that integrates primary care and mental health services, further emphasizing their engagement in the health insurance and health tech sectors. Bossa Invest also offers educational resources for investors and startups, aiming to empower entrepreneurs and foster growth in the startup ecosystem.

2. 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 Latin America, providing capital and strategic guidance to startups in various technology-driven industries. In recent years, Kaszek has been involved in significant funding rounds for health-related startups, including Sofía, which raised $13.5 million in December 2024, and Alice, a Brazilian health startup that raised $127 million in a Series C funding round in December 2021. The funding for Alice is particularly noteworthy as it aims to enhance technology and services for companies interested in providing healthcare to employees, showcasing Kaszek's active role in the health insurance sector.

3. 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 entrepreneurs. Notably, Canary has invested in health insurance-related startups, including Sami, which raised $1,227,000 in a seed round in April 2019, and Alice, which has received multiple rounds of funding totaling over $66 million from 2019 to 2025. These investments highlight Canary's commitment to supporting innovative solutions in the health insurance space, making them a significant player in this sector.

4. DNA Capital

• Website: dnacapital.com
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2013
• Headcount: 11-50
• Number of deals in 2024: 1
• LinkedIn: dna-capital-br

DNA Capital is a venture capital firm based in Sao Paulo, Brazil, founded in 2013. The firm specializes in healthcare investments, partnering with healthcare businesses and startups to provide capital and strategic support for growth and innovation. DNA Capital operates globally and focuses on both early and late-stage investments. Notable transactions include leading a $30 million Series A funding round for Nice Healthcare, which focuses on healthcare services, and participating in a Series A funding round for The CareVoice, a Shanghai-based health insurtech platform that aims to launch new health insurance products. Additionally, they were involved in the Series D funding for Clover Health, further emphasizing their commitment to the health insurance industry.

5. 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. In recent years, Monashees has been actively involved in the health insurance sector, with notable investments in companies like Sami, which raised a total of $46 million across multiple funding rounds (Series A, Convertible Note, and Series B) from 2020 to 2024, and Pipo Saúde, which raised approximately $26 million in 2021 and 2024. These investments highlight Monashees' commitment to supporting innovative health insurance solutions in the region.

6. 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 focuses on providing resources and support for startups in the technology sector, offering consulting services, educational materials, and investment management to help entrepreneurs navigate the challenges of building and scaling their businesses. In 2022, Norte Ventures participated in a significant funding round for 180° Insurance, a Brazilian insurance startup that has launched multiple insurance products and operates through a B2B2C model, providing digital insurance solutions. This involvement highlights Norte Ventures' engagement in the health insurance sector, alongside their broader focus on empowering startups and fostering innovation in the Brazilian market.

7. Magma Partners

• Website: magmapartners.com
• Type: Venture Capital
• Headquarters: Providencia, Santiago, Chile
• Founded year: 2014
• Headcount: 11-50
• Number of deals in 2024: 6
• LinkedIn: magma-partners

Magma Partners is a venture capital firm based in Providencia, Santiago, Chile, founded in 2014. The firm specializes in early-stage investments across Latin America, focusing on sectors such as fintech and insurtech. With a portfolio of over 125 companies, Magma Partners aims to address significant regional challenges and support scalable technology businesses. Notably, they have invested in several startups relevant to the health insurance context, including Sekure, which raised $500,000 in a Pre-Seed round in 2021, and Mend, which secured $650,000 in a Pre-Seed round in 2022. These investments highlight their commitment to fostering innovation in the insurance sector, particularly in areas that may intersect with health insurance.

8. Eretz.bio

• Website: eretz.bio
• Type: Corporate
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2017
• Headcount: 11-50
• Number of deals in 2024: 16
• LinkedIn: eretz.bio

Eretz.bio is a not-for-profit organization based in Sao Paulo, Brazil, founded in 2017. It serves as an innovation hub associated with the Hospital Israelita Albert Einstein, focusing on incubating startups in the healthcare sector. Eretz.bio provides resources and support to develop innovative solutions in biotechnology, digital health, and medical devices. Notable transactions include investments in Nilo Saúde, which raised $1.7 million in a Pre-Seed round, and ISA Saúde, which raised $3 million in a Seed round. These investments highlight Eretz.bio's commitment to fostering innovation in health-related fields, making it a significant player in the health insurance landscape.

9. Lupa Capital

• Website: lupacapital.com.br
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2012
• Headcount: 1-10
• LinkedIn: lupa-capital

Lupa Capital is a venture capital firm based in Sao Paulo, Brazil, founded in 2012. The firm specializes in early-stage technology companies across the healthcare, insurance, and software sectors. Lupa Capital provides not only financial investment but also strategic support to help these companies navigate critical growth challenges, including fundraising and key decision-making. Notably, Lupa Capital has participated in significant transactions relevant to health insurance, such as the Series A funding for 180° Insurance, a Brazilian startup that offers digital insurance solutions, and Nilo Saúde, a healthtech company that raised $10 million to enhance its software platform. Additionally, they have invested in Walrus Health and Azos, further demonstrating their commitment to the healthcare and insurance sectors.

10. VOX Capital

• Website: voxcapital.com.br
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2009
• Headcount: 11-50
• Number of deals in 2024: 1
• LinkedIn: vox-capital

VOX Capital is an impact investment firm based in Sao Paulo, Brazil, founded in 2009. The firm specializes in managing investments that generate positive social and environmental outcomes, focusing on sectors such as healthcare, education, and climate solutions. VOX Capital serves both individual and institutional investors who seek to align their financial goals with their values. Notably, VOX Capital has made significant investments in healthtech companies, including a recent investment in Fiibo, a healthtech platform aimed at enhancing connectivity in the fragmented health market. They also led a $2M seed round for Eyecare Health, which focuses on expanding operations and improving healthcare services. Additionally, they participated in the Series A funding for ISA Saúde, further solidifying their commitment to the health insurance sector. These transactions highlight VOX Capital's active role in supporting innovations that can transform healthcare delivery and insurance.

11. Veronorte

• Website: veronorte.com
• Type: Venture Capital
• Headquarters: Sabanalarga, Antioquia, Colombia
• Founded year: 2012
• Headcount: 1-10
• LinkedIn: veronorte

Veronorte is a venture capital firm based in Sabanalarga, Antioquia, Colombia, founded in 2012. The firm focuses on sustainable development in Latin America, investing in early and growth-stage companies across various sectors, including healthcare. Notably, Veronorte has participated in significant funding rounds for health insurance-related companies such as Clover Health, which raised $130 million in Series D funding, and Welltok, which secured $75 million in Series E funding. Additionally, they have invested in Virgin Pulse and Fairmatic, both of which have ties to health and wellness, further emphasizing their interest in the healthcare sector. Veronorte's mission is to facilitate access to sustainable opportunities, helping businesses navigate the regional market effectively, which aligns with their investments in innovative healthcare solutions.

12. IKJ Capital

• Website: ikj.capital
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2019
• Headcount: 1-10
• Number of deals in 2024: 7
• LinkedIn: irukandji-capital

IKJ Capital is a venture capital firm based in Sao Paulo, Brazil, founded in 2019. The firm specializes in investing in early-stage healthcare technology companies, focusing on addressing significant healthcare challenges such as mental health and chronic conditions. IKJ Capital provides funding and expertise to innovative startups in the healthcare technology sector. Notable transactions include a $33.3 million Series B investment in Alice, a company likely involved in health-related services, and a $10 million Series A funding round for Nilo Saúde, a Brazilian healthtech firm that aims to enhance its platform's software with data analytics and automation. Additionally, IKJ Capital participated in the Pre-Seed funding rounds for Nilo Saúde, demonstrating their commitment to supporting healthtech innovations from early stages. Their portfolio reflects a dedication to improving healthcare solutions, which aligns with the interests of health insurance stakeholders.

13. 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. It supports tech founders in Latin America by providing funding, mentorship, and community resources to help startups scale and succeed. Latitud has been involved in several notable transactions, including investments in health-related companies. For instance, they participated in a funding round for Latú Seguros, an insurtech company that focuses on insurance solutions, raising $6.7 million in a pre-seed round. Additionally, they invested in Clivi, which secured $10 million to build digital clinics and manage diabetes care in Latin America. These transactions highlight Latitud's engagement in the health insurance and insurtech sectors, showcasing their commitment to fostering growth in this area.

Health Insurance Insights: Key Investors in Latin America

Investor	Headquarter	Size	Founded	Deals 2024
bossa invest	Sao Paulo, Sao Paulo, Brazil	11-50	2011	56
Kaszek	Sao Paulo, Sao Paulo, Brazil	11-50	2011	17
Canary	Sao Paulo, Sao Paulo, Brazil	11-50	2017	23
DNA Capital	Sao Paulo, Sao Paulo, Brazil	11-50	2013	1
Monashees	Sao Paulo, Sao Paulo, Brazil	11-50	2005	18
Norte Ventures	Sao Paulo, Sao Paulo, Brazil	1-10	2020	11
Magma Partners	Providencia, Santiago, Chile	11-50	2014	6
Eretz.bio	Sao Paulo, Sao Paulo, Brazil	11-50	2017	16
Lupa Capital	Sao Paulo, Sao Paulo, Brazil	1-10	2012	0
VOX Capital	Sao Paulo, Sao Paulo, Brazil	11-50	2009	1
Veronorte	Sabanalarga, Antioquia, Colombia	1-10	2012	0
IKJ Capital	Sao Paulo, Sao Paulo, Brazil	1-10	2019	7
Latitud	Sao Paulo, Sao Paulo, Brazil	11-50	2020	24

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