Top 14 Individual Health Insurance Investors in Latin America
Top 14 Individual Health Insurance Investors in Latin America
The individual health insurance industry in Latin America is rapidly evolving. Major life changes, recent global health challenges, and the growth of digital technology are influencing how people access medical care. Companies range from traditional insurers to startups that leverage technology for personalized health solutions. They provide services varying from basic coverage to specialized health plans, often incorporating telemedicine. Moreover, there is increasing interest in the insurtech space, where technology improves product delivery and customer experience. With growing awareness of health wellness, this industry is positioned for continuous growth and innovation in the region.
The investors in the individual health insurance sector in Latin America include venture capital firms and corporate entities with a strong presence in Sao Paulo and beyond. Founded primarily from 2005 to 2020, these firms typically boast small to moderate staff sizes, between 1 and 50 employees. Notably, they've collectively made significant investments in 2024, with firms like Monashees and Eretz.bio leading in deal counts. Their focus on supporting innovative health solutions underscores the potential for growth in this specialized market.
Top 14 Individual 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 involved in several relevant transactions in the health insurance context, including investments in Lively, a health savings account provider, and Vitable Health, which focuses on providing health services. These investments demonstrate Bossa Invest's engagement in the health insurance industry, alongside their broader focus on technology startups.
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 various technology-driven industries in Latin America. With a strong emphasis on long-term partnerships, Kaszek aims to foster a vibrant technology ecosystem in the region. Notably, they have invested in health startups such as Sofía and Alice. Sofía, which raised significant funding in multiple rounds, is a health tech company that aims to scale its offerings in the healthcare sector. Alice, a Brazilian health startup, raised $127 million in a funding round that included Kaszek, focusing on technology and services for companies providing healthcare to employees. These transactions highlight Kaszek's active role in the health insurance and technology landscape, making them a relevant player in the individual 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 builders. Canary has been actively involved in the health insurance sector, with notable investments in companies like Sami, which raised $1,227,000 in a seed round in April 2019, and Alice, which has received substantial funding across multiple rounds, including $22 million in a Series C round in February 2025, $33.3 million in a Series B round in February 2021, and $16 million in a Series A round in September 2019. These transactions highlight Canary's engagement in the health insurance industry and their support for innovative health startups.
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 has been involved in various funding rounds, including significant investments in companies like Clover Health, which raised $130 million in a Series D round, and Nice Healthcare, which secured $30 million in a Series A round. They also participated in the funding of The CareVoice, a Shanghai-based health insurtech platform, which aims to launch new health insurance products. These transactions highlight DNA Capital's commitment to advancing healthcare solutions, including individual health insurance.
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 $49 million across multiple funding rounds (Series A, Series B, and a Convertible Note) to enhance its health insurance offerings. Additionally, they invested in Pipo Saúde, which raised over $25 million in funding rounds, focusing on health management solutions. These transactions highlight Monashees' engagement in the health insurance industry, reinforcing their role as a relevant investor in this sector.
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 empowering startups and fostering innovation within the Brazilian technology sector. They provide resources, consulting services, and investment management to help entrepreneurs navigate the challenges of building and scaling their businesses. Notably, Norte Ventures has participated in several significant transactions, including a Series A investment in 180 Insurance, a startup that offers a range of insurance products through a B2B2C model, indicating their engagement in the insurance market. Additionally, they have been involved in funding rounds for other startups, such as Alinea Health, which, while primarily a social investing app, also touches on health-related financial services. This diverse portfolio showcases Norte Ventures' commitment to supporting innovative solutions in various sectors, including individual health insurance.
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 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 aimed at addressing significant regional challenges and supporting scalable technology businesses. Notably, they have invested in companies like Guros, which raised $1,200,000 in a Seed Round, indicating their commitment to the insurtech space. Other relevant transactions include Koltin and Mend, both of which are in the early stages of development, showcasing Magma's strategy of nurturing innovative solutions in the insurance sector.
8. 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 growth challenges. Notable transactions include their involvement with 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. These investments highlight Lupa Capital's active role in the health insurance sector, making them a significant player in this space.
9. 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, particularly in biotechnology, digital health, and medical devices. In 2024 alone, Eretz.bio has been involved in 16 investments, showcasing its active role in fostering healthcare innovation. Notable transactions include Nilo Saúde, which raised $1.7 million in a Pre-Seed round, and ISA Saúde, which secured $3 million in a Seed round. These investments suggest a focus on health-related services that could intersect with individual health insurance, making Eretz.bio a significant player in the healthcare investment landscape.
10. 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 founded in 2020, based in Sao Paulo, Brazil. The firm focuses on supporting tech founders in Latin America by providing funding, mentorship, and community resources to help startups scale and succeed. In 2024 alone, Latitud has made 24 investments, showcasing its active role in the tech ecosystem. Notably, Latitud participated in the funding of Latú Seguros, an insurtech that raised $6.7 million in a pre-seed round, indicating its interest in the health insurance space. Additionally, Latitud has been involved in other health-related ventures, such as Clivi, which focuses on digital clinics and diabetes care management, further emphasizing its engagement in the health sector.
11. 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 been involved in several significant transactions within the healthcare sector, including investments in healthtech startups like Fiibo, which aims to enhance connectivity in the fragmented health market, and ISA Saúde, which raised $17 million in a Series A round. Other relevant investments include Tem Saúde and Bem.care, both of which are positioned within the health insurance and healthcare services landscape. These transactions highlight VOX Capital's active role in supporting innovations that can improve individual health insurance offerings and overall healthcare access.
12. 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 energy, agriculture, and healthcare. Veronorte aims to facilitate access to sustainable opportunities and help businesses navigate the regional market effectively. Notably, they have invested in several companies relevant to the healthcare sector, such as Clover Health, which raised $130 million in Series D funding, Welltok, which secured $75 million in Series E funding, and Viome, which raised $25 million in Series B funding. These investments highlight Veronorte's engagement in the healthcare industry, particularly in areas that intersect with individual health insurance.
13. 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, aiming to tackle significant healthcare challenges, including mental health and chronic conditions. IKJ Capital has been involved in several notable transactions, such as Alice, which raised $33.3 million in a Series B round, and Nilo Saúde, a Brazilian healthtech that raised $10 million in a Series A funding round. These investments highlight their commitment to supporting innovative solutions in the healthcare sector, which can include aspects of individual health insurance. Their portfolio also includes early-stage investments in companies like Bloom Care and Superpower, further demonstrating their active role in the healthcare technology landscape.
14. 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 participated in significant transactions within the insurtech sector, including a seed investment in 123Seguro, an insurtech company that is a leader in Argentina's insurance market. This investment, along with their other transactions, highlights their engagement in the insurance industry, particularly in health insurance-related ventures. Additionally, NXTP has invested in companies like Betterfly and Axenya, which may also have implications in the health and insurance sectors, further demonstrating their interest in this area.
Individual 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 |
| Lupa Capital | Sao Paulo, Sao Paulo, Brazil | 1-10 | 2012 | 0 |
| Eretz.bio | Sao Paulo, Sao Paulo, Brazil | 11-50 | 2017 | 16 |
| Latitud | Sao Paulo, Sao Paulo, Brazil | 11-50 | 2020 | 24 |
| 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 |
| NXTP Ventures | Buenos Aires, Buenos Aires, Argentina | 11-50 | 2011 | 4 |
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