The tour operator industry in Latin America is vibrant, showcasing a myriad of companies that offer travel services ranging from personalized itineraries to adventure experiences. These operators cater to various market segments, including leisure and business travelers, while promoting local destinations and cultural experiences. Noteworthy trends include a shift towards eco-friendly travel solutions and technological innovations, such as AI-driven booking platforms. Furthermore, Latin America is becoming a hub for experiential travel, appealing to tourists hungry for authentic interactions. The region's rich history and biodiversity continue to draw increasing interest from global travelers, further bolstering the industry's prospects.


The investor landscape for tour operators in Latin America features a blend of corporate and venture capital firms. Spanning diverse locations, including major cities like São Paulo and Mexico City, there are both large-established firms and nimble startups. Founded mostly in the last two decades, these investors range in size from small teams to larger entities, actively participating in about 75 deals across 2024. This momentum reflects rising confidence in the region's travel sector and highlights the increasing appetite for tapping into its unique tourism potential.


Top 15 Tour Operator 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 aims to empower entrepreneurs and foster growth in the startup ecosystem. Notably, they have invested in several travel-related startups, including Instaviagem, a surprise travel startup that raised approximately $500,000 to scale operations and expand internationally, and Tripscout, which raised funds to enhance travel planning experiences. Additionally, they have supported Just Travel, which raised $247,356 in a Pre-Seed round, further demonstrating their engagement in the travel and tourism sector.


2. IGneous

  • Website: igneous.cl
  • Type: Corporate
  • Headquarters: Chile
  • Headcount: 1-10

IGneous is a corporate investment firm based in Chile that specializes in managing and investing in early-stage companies across various innovative sectors. They provide strategic and operational support to help these companies grow and succeed, with a focus on long-term value creation and active management involvement. Among their notable transactions, they have invested in Recorrido, a company that has raised funds in seed rounds, which may relate to travel services, and Busbud, a Montreal-based online marketplace for intercity bus tickets that raised $11 million in financing. These investments highlight their engagement with the travel and transportation industry, further emphasizing their potential relevance to the tour operator sector.


3. DILA Capital

  • Website: dilacapital.com
  • Type: Venture Capital
  • Headquarters: Mexico City, Mexico City, Mexico
  • Founded year: 2005
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: dila-capital

DILA Capital is a venture capital firm based in Mexico City, founded in 2005. The firm specializes in investing in entrepreneurs and companies within the Spanish-speaking world and the Hispanic market in the U.S. DILA Capital provides capital, strategic support, and operational insights to help its portfolio companies grow and succeed. Notably, they have invested in Outlet de Viajes, a company that operates within the tour operator space, indicating their engagement in the travel industry. Additionally, they have participated in funding rounds for Urbvan, a private transportation service, and BYHOURS, a platform for booking hotel rooms by the hour, showcasing their broader interest in travel-related services.


4. Angel Ventures


Angel Ventures is a venture capital firm founded in 2008, based in Mexico, that specializes in early-stage technology investments across Latin America. The firm provides funding, mentorship, and resources to startups, helping them grow in various sectors, including FinTech and E-Commerce. Notably, Angel Ventures has invested in Outlet de Viajes, a travel agency that has raised funds in multiple rounds (Seed and Series A) from 2013 to 2016, indicating a strong interest in the travel and tour operator space. Additionally, they participated in funding for Urbvan, a startup focused on private transportation solutions, and BYHOURS, a platform for booking hotel rooms by the hour, further showcasing their engagement in the travel and hospitality sectors. Angel Ventures also offers educational programs for new investors and supports market entry for companies looking to expand into Mexico.


5. Nexxus Capital


Nexxus Capital is a private equity investment firm based in Mexico City, Mexico, founded in 1995. The firm specializes in private equity and mezzanine debt for mid-sized companies in Mexico and Spain, managing multiple funds aimed at providing capital to help businesses grow and expand. Among their notable transactions, Nexxus Capital has invested in several companies within the tourism sector, including Santa Fe Grupo Hotelero, Grupo Turistore, and PriceTravel. These investments highlight their engagement in the travel and hospitality industry, making them a significant player in the tour operator context. Their clients are primarily mid-sized companies seeking investment to enhance their operations and market presence, which is a common characteristic of tour operators.


6. Liil Ventures

  • Website: liil.city
  • Type: Venture Capital
  • Headquarters: Mexico City, Mexico City, Mexico
  • Founded year: 2017
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: liil-ventures

Liil Ventures is a venture capital firm based in Mexico City, founded in 2017, that focuses on enhancing urban living through smart city and mobility solutions. They invest in early-stage companies and provide strategic support, leveraging their extensive network to help entrepreneurs succeed in addressing urban challenges. In 2024, Liil Ventures participated in a funding round for BusUp, a corporate bus commuter management solution, raising over $14 million. This investment highlights their commitment to improving transportation services, which is crucial for tour operators. Previously, they have also been involved with Urbvan, which provides private transportation shuttles in Mexico, and Cabify, a ride-hailing service, indicating a strong focus on mobility solutions that can benefit the tour operator industry.


7. 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, Monashees participated in a significant Series C funding round for Buser, a platform that offers shared charter and bus services, which is directly relevant to the tourism industry. This investment highlights their commitment to supporting companies that enhance travel experiences. Additionally, they have invested in Wheels Up, a private aviation company, further showcasing their involvement in the travel sector. Monashees also backed Nomad, a company that has raised substantial funds in recent years, although its direct relevance to tour operations is less clear. Overall, Monashees' investment portfolio reflects a strategic interest in the travel and tourism market, making them a noteworthy player in this space.


8. 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, offering consulting services, educational materials, and investment management to help entrepreneurs navigate the challenges of building and scaling their businesses. Norte Ventures has been involved in several notable transactions, including a Seed Round investment in Kolors, a company focused on technology solutions, and a Series A investment in Nomad, which raised over $19 million. Most relevant to the tour operator context is their investment in Buser, a transportation startup that raised an undisclosed amount in a Series A round. This involvement in a travel-related company highlights Norte Ventures' potential interest in the tour operator industry, as transportation is a critical aspect of tour operations.


9. 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, providing funding and advisory services to entrepreneurs. 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 Keteka, a travel platform that connects travelers with local experiences, and The Intern Group, which offers international internship programs. These transactions highlight their engagement in sectors that intersect with tourism and travel, showcasing their potential relevance to the tour operator industry.


10. Fundación Bancolombia


Fundación Bancolombia is a corporate investor based in Sabanalarga, Antioquia, Colombia, and is part of Grupo Bancolombia, a financial services company with a rich history of over 146 years. The foundation focuses on sustainable economic development and customer-centric financial services. In 2020, they led a seed investment of US$500,000 in Awake Travel, a Colombian startup that aims to enhance the booking of ecological trips and experiences. This investment highlights their interest in the tourism sector, particularly in promoting sustainable travel options, which aligns with their broader mission of supporting sustainable development.


11. Verve Capital

  • Website: vervecapital.us
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2019
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: verve-capital

Verve Capital is a venture capital firm based in Sao Paulo, Brazil, founded in 2019. The firm specializes in early-stage investments in technology-driven startups across Latin America, providing not only funding but also strategic support to help entrepreneurs achieve significant growth. Verve Capital has a diverse portfolio, with a focus on innovative sectors such as FinTech, HealthTech, and EdTech. Notably, they participated in the seed round for Instaviagem, a travel-related startup, which highlights their engagement in the tour operator context. This investment reflects their willingness to explore opportunities within the travel sector, complementing their broader investment strategy.


12. Thomson Reuters Costa Rica


Thomson Reuters Costa Rica is a corporate investor based in Heredia, Costa Rica, founded in 1977. The company specializes in legal services and information technology solutions, offering a variety of products such as legal research tools, tax compliance software, and media solutions. Their clientele includes legal professionals, accountants, and businesses across various sectors, who rely on their subscription-based services to enhance efficiency and ensure compliance. Notably, in 2000, Thomson Reuters acquired Simply Travel, which led to the latter's resignation from the Association of Independent Tour Operators (AITO), indicating a significant shift in Simply Travel's operational independence. This acquisition highlights Thomson Reuters' strategic interest in the tour operator industry, showcasing their capability to invest in diverse sectors beyond their core business.


13. G2 Momentum Capital


G2 Momentum Capital is a venture capital firm based in Mexico City, founded in 2011. The firm specializes in investing in early-stage startups across Latin America, with a focus on disruptive and scalable technology-based business models. They partner with passionate entrepreneurs to provide both capital and consulting services, helping startups navigate the competitive market. Notably, G2 Momentum Capital has invested in Kukun, a Mexican neo-hospitality proptech that raised $4.5 million to enhance traveler experiences through interactive technologies, and Shuttle Central, which raised $50,000 in a seed round. These investments highlight their engagement in sectors that intersect with travel and hospitality, making them a potential player in the tour operator industry.


14. Kayyak Ventures

  • Website: kayyakventures.com
  • Type: Venture Capital
  • Headquarters: Santiago, Santiago, Chile
  • Founded year: 2020
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: kayyak-ventures

Kayyak Ventures is a venture capital firm based in Santiago, Chile, founded in 2020. The firm focuses on investing in startups and entrepreneurs across Latin America, emphasizing social and environmental challenges. Their portfolio spans diverse industries, including technology, healthcare, and finance. Notably, they led a $6 million pre-Series A funding round for Wheel the World, a company dedicated to making travel accessible for people with disabilities. This investment highlights Kayyak Ventures' interest in the travel sector, particularly in innovative solutions that enhance the travel experience for underserved communities. Their commitment to supporting impactful ventures positions them as a relevant player in the tour operator industry.


15. WeBoost

  • Website: weboost.vc
  • Type: Corporate
  • Headquarters: Santiago, Santiago, Chile
  • Founded year: 2019
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: weboostvc

WeBoost is a venture capital firm based in Santiago, Chile, founded in 2019. The firm focuses on investing in and supporting startups in Latin America, particularly those that are technology-driven and looking to scale their operations in a fragmented market. WeBoost provides both capital and strategic support to help these startups improve their market presence. Notably, WeBoost participated in funding rounds for Wheel the World, a company that raised $6 million in a pre-Series A funding round in March 2023, and previously raised $2 million in a seed round in August 2021. Wheel the World aims to facilitate travel for individuals with disabilities, showcasing WeBoost's commitment to investing in innovative solutions within the travel and tourism sector.



Tour Operator Insights: Key Investors in Latin America


InvestorHeadquarterSizeFoundedDeals 2024
bossa investSao Paulo, Sao Paulo, Brazil11-50201156
IGneousChile1-100
DILA CapitalMexico City, Mexico City, Mexico11-5020051
Angel VenturesMexico11-5020082
Nexxus CapitalMexico City, Mexico City, Mexico11-5019950
Liil VenturesMexico City, Mexico City, Mexico1-1020171
MonasheesSao Paulo, Sao Paulo, Brazil11-50200518
Norte VenturesSao Paulo, Sao Paulo, Brazil1-10202011
Magma PartnersProvidencia, Santiago, Chile11-5020146
Fundación BancolombiaSabanalarga, Antioquia, Colombia1-1019452
Verve CapitalSao Paulo, Sao Paulo, Brazil1-1020193
Thomson Reuters Costa RicaHeredia, Heredia, Costa Rica51-20019774
G2 Momentum CapitalMexico City, Mexico City, Mexico1-1020112
Kayyak VenturesSantiago, Santiago, Chile1-1020202
WeBoostSantiago, Santiago, Chile1-1020192


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