The international development industry in Latin America focuses on improving economic and social conditions across the region. Companies operating in this space range from venture capital firms investing in innovative startups to private equity groups aimed at enhancing infrastructure and sustainability initiatives. Many players emphasize sectors like education, healthcare, and clean technology, reflecting a growing commitment to address local challenges. As more investors embrace impact investing, the industry is progressively aligning with sustainable development goals, fostering strong partnerships to leverage cutting-edge solutions that ignite growth while benefiting underserved communities.


The investors highlighted in this list reflect a mix of corporate and venture capital firms, as well as private equity players. Concentrated primarily in Brazil, Argentina, and Costa Rica, these investors vary in size from small teams of 1-10 individuals to larger groups comprising up to 50. Founded between 2008 and 2021, they made a notable impact in 2024 with deal counts ranging from 2 to 13 investments each. Their strategic focus supports innovative ventures crucial for fostering sustainable development in Latin America.


Top 13 International Development Investors in Latin America


1. Positive Ventures

  • Website: positive.ventures
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2016
  • Headcount: 1-10
  • Number of deals in 2024: 8
  • LinkedIn: positiveventures

Positive Ventures is a venture capital firm based in Sao Paulo, Brazil, founded in 2016. The firm is dedicated to investing in entrepreneurs who are focused on solving pressing social and environmental challenges. With a small team size of 1-10, Positive Ventures has made 8 investments in 2024 alone, demonstrating their active engagement in the startup ecosystem. Their mission is to create economic, social, and environmental value through decisive investments across various sectors, including clean tech, ed tech, and health tech. Notable transactions include their investment in Pachama, which raised $9 million in Series B funding in December 2023, focusing on carbon removal solutions. They also participated in the funding rounds for Funga, a nature-based carbon removal company, which highlights their commitment to environmental sustainability. These investments reflect their strategy of supporting innovative solutions that align with international development goals.


2. Bridge Latam

  • Website: bridgelat.com
  • Type: Corporate
  • Headquarters: Mexico City, Mexico City, Mexico
  • Founded year: 2021
  • Headcount: 1-10
  • Number of deals in 2024: 5
  • LinkedIn: bridge-partners-latam

Bridge Latam is an investment firm based in Mexico City, founded in 2021, that specializes in supporting entrepreneurs and startups within the Latin American tech ecosystem. The firm provides not only capital but also networking opportunities and operational support to help businesses grow and succeed. Their investment strategy emphasizes long-term partnerships with passionate founders who are dedicated to solving regional problems. Notable transactions include a $20 million seed round for Quinio in December 2021, and two significant investments in FinanEx, totaling $4.5 million across pre-seed and seed rounds in early 2023 and late 2023. These investments reflect Bridge Latam's commitment to fostering innovation and economic development in the region, making them a relevant player in the international development space.


3. Carao Ventures

  • Website: caraov.com
  • Type: Venture Capital
  • Headquarters: Costa Rica
  • Founded year: 2012
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: carao-ventures

Carao Ventures is a venture capital firm based in Costa Rica, founded in 2012. The firm specializes in early-stage investments in innovation-driven companies throughout Latin America, providing entrepreneurs with the necessary funding and resources to grow their businesses. Notable transactions include a $3 million seed round for FinanEx in November 2023, which focuses on financial technology, and a $250,000 seed round for Bellelli Educación in April 2014, a company dedicated to educational services. These investments reflect Carao Ventures' commitment to supporting sectors that can drive economic growth and social impact in the region, particularly in education and financial services, which are critical areas for international development.


4. AIR Capital

  • Website: aircapital.vc
  • Type: Corporate
  • Headquarters: Buenos Aires, Buenos Aires, Argentina
  • Founded year: 2021
  • Headcount: 1-10
  • Number of deals in 2024: 13
  • LinkedIn: air-capital-vc

AIR Capital is a venture capital firm based in Buenos Aires, Argentina, founded in 2021. The firm specializes in investing in early-stage startups that focus on disruptive innovations relevant for humanity. AIR Capital provides both investment and consulting services, leveraging insights from their extensive experience in the technology sector. Their portfolio includes a diverse range of startups, indicating a commitment to fostering innovation across various industries. Notable transactions include investments in Ethos Space and Gigablue, both of which are in the seed stage, and participation in the oversubscribed Series Seed round for Outpost Technologies Corporation, which raised $7.1M for technology development and talent acquisition. While these transactions highlight their active role in the startup ecosystem, they primarily focus on technology rather than explicitly on international development initiatives.


5. Cacao Capital VC


Cacao Capital VC is a boutique investment and consulting firm based in Guatemala, founded in 2019. The firm specializes in supporting startups and entrepreneurs through a range of services, including mentorship, investment readiness assessments, and advisory services. Cacao Capital collaborates with various investors and organizations to enhance the entrepreneurial ecosystem in Latin America, focusing on impactful projects that drive growth for their clients. In 2023, they participated in a notable transaction where FinanEx raised $1,800,000 in a Pre-Seed round, showcasing their commitment to investing in innovative startups that have the potential to contribute to economic development in the region.


6. Innogen Capital Ventures


Innogen Capital Ventures is a venture capital firm based in San Salvador, El Salvador, founded in 2018. The firm specializes in investing in early-stage technology companies across Latin America, with a strong focus on sectors that promote social and economic development, including Financial Inclusion, Healthcare, and Agtech. In 2024, Innogen Capital Ventures was involved in significant transactions such as the $3 million raised by FinanEx through a Convertible Note and a Seed Round, both aimed at enhancing financial services and inclusion. These investments reflect their commitment to supporting innovative solutions that can drive transformative change in underserved markets, thereby contributing to broader international development goals.


7. 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, particularly in sectors that are vital for societal advancement, such as education, technology, and health. Notable transactions include Anima Educação, which raised an undisclosed amount in a private equity round in 2012, focusing on enhancing educational access and quality. Additionally, Crescera Capital invested in Fumajet, which raised $649,036 in a seed round in 2015, indicating their commitment to supporting innovative solutions in various sectors. These investments reflect Crescera's strategy to enhance operational performance and prepare companies for market opportunities, contributing to broader development goals.


8. IG4 Capital

  • Website: ig4capital.com
  • Type: Private Equity
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2016
  • Headcount: 11-50
  • LinkedIn: ig4-capital

IG4 Capital is an investment management firm based in Sao Paulo, Brazil, specializing in private equity and special situations. Founded in 2016, the firm aims to generate performance through value creation and business transformation in emerging markets. IG4 Capital's clients include institutional investors looking to revitalize underperforming investments and achieve long-term financial returns. One notable transaction is their acquisition of a stake in Aenza, a Peruvian infrastructure company, through a $58 million tender offer, positioning IG4 Capital as the largest shareholder. This investment highlights their focus on infrastructure development, which is crucial for economic growth in emerging markets.


9. 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. They cater to both individual and institutional investors who seek to align their financial goals with their values. One notable transaction is their investment in PlanoCDE, which raised an undisclosed amount in a venture round in August 2016. This investment reflects VOX Capital's commitment to supporting initiatives that can drive social change and contribute to sustainable development, making them a relevant player in the international development landscape.


10. Bewater

  • Website: bewater.vc
  • Type: Corporate
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2019
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: bewater-vc

Bewater is a venture capital firm based in Sao Paulo, Brazil, founded in 2019. The firm partners with founders in Latin America to help them scale their businesses by providing investment, strategic insights, and operational support. Bewater aims to empower visionary entrepreneurs to achieve market leadership. Notable transactions include Revelo, which raised $28,200,000 in a Series B round in October 2021, and Trinus Co, which raised $7,170,013 in a Series B round in December 2024. These investments reflect Bewater's commitment to supporting innovative companies that can drive economic growth and development in the region.


11. 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 investing in early-stage startups across Latin America, providing both funding and advisory services to entrepreneurs. With a focus on sectors such as fintech and insurtech, Magma Partners has backed over 125 companies, aiming to tackle significant regional challenges and support scalable technology businesses. One notable transaction is their investment in The Intern Group, which raised an undisclosed amount in a Seed Round on June 1, 2020. This investment reflects their commitment to fostering innovation and addressing workforce development issues, which are critical components of international development.


12. makesense Perú

  • Website: makesense.org
  • Type: Venture Capital
  • Headquarters: Santiago De Surco, Lima, Peru
  • Founded year: 2010
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: makesense-latam

makesense Perú is a not-for-profit organization based in Santiago De Surco, Lima, Peru, founded in 2010. It focuses on social innovation and community engagement, empowering citizens and supporting social entrepreneurs through training and consulting services. The organization aims to create a sustainable and inclusive society by mobilizing individuals and organizations to tackle social and environmental challenges. In 2023, makesense participated in the seed funding round for CarbonFarm Technology, a climate tech startup based in France that raised €2.5M. This funding is intended to support sustainable rice farming and production activities across Asia, Africa, and South America, highlighting makesense's commitment to international development and sustainability.


13. Aqua Capital


Aqua Capital is a private equity firm based in Sao Paulo, Brazil, founded in 2009. The firm specializes in investments in sustainable agribusiness and food value chains, targeting mid-sized companies to provide operational expertise and support for growth and transformation. Aqua Capital aims to achieve top quartile returns for its investors while addressing critical challenges in food production and sustainability. One notable transaction includes the acquisition of a 60 percent stake in a Brazilian inputs distributor, which reflects their strategy of consolidating agribusiness companies. This transaction is significant as it enhances the operational capabilities within the agribusiness sector, contributing to improved efficiency and sustainability in food production, which is essential for international development.



International Development Insights: Key Investors in Latin America


InvestorHeadquarterSizeFoundedDeals 2024
Positive VenturesSao Paulo, Sao Paulo, Brazil1-1020168
Bridge LatamMexico City, Mexico City, Mexico1-1020215
Carao VenturesCosta Rica1-1020123
AIR CapitalBuenos Aires, Buenos Aires, Argentina1-10202113
Cacao Capital VCGuatemala1-1020192
Innogen Capital VenturesSan Salvador, San Salvador, El Salvador1-1020186
Crescera CapitalRio De Janeiro, Rio De Janeiro, Brazil11-5020087
IG4 CapitalSao Paulo, Sao Paulo, Brazil11-5020160
VOX CapitalSao Paulo, Sao Paulo, Brazil11-5020091
BewaterSao Paulo, Sao Paulo, Brazil1-1020193
Magma PartnersProvidencia, Santiago, Chile11-5020146
makesense PerúSantiago De Surco, Lima, Peru1-1020102
Aqua CapitalSao Paulo, Sao Paulo, Brazil11-5020090


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