The commercial construction industry in Latin America is a dynamic sector vital to urban development and infrastructure advancement. It features a variety of companies, including large construction firms, specialty contractors, and suppliers of building materials. These entities provide a range of services, from commercial real estate development to civil engineering projects and renovation initiatives. Recent trends showcase a growing emphasis on sustainability and technology integration, pushing the industry towards innovative construction methods and eco-friendly practices. The rise of smart cities and a focus on enhancing urban infrastructure present numerous opportunities for growth. Additionally, governmental initiatives are bolstering public-private partnerships.


The investors listed comprise a mix of corporate, venture capital, and private equity firms, primarily located in Brazil and Mexico. Founded between 1906 and 2020, these organizations vary in size, from small teams to large entities with over 10,000 employees. In 2024, they announced a total of 53 deals, indicating strong ongoing investment in commercial construction. Notable players like Cemex and Votorantim showcase the industry's significant financial backing and strategic interest, promoting growth and innovation in Latin America's construction horizon.


Top 17 Commercial Construction Investors in Latin America


1. Cemex

  • Website: cemex.com
  • Type: Corporate
  • Headquarters: Monterrey, Nuevo Leon, Mexico
  • Founded year: 1906
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: cemex

Cemex is a prominent corporate investor based in Monterrey, Nuevo Leon, Mexico, founded in 1906. As a leading building materials company, Cemex specializes in the manufacturing and distribution of cement, ready-mix concrete, and aggregates, serving construction businesses and organizations globally. The company is committed to sustainability and environmental responsibility, which aligns with modern construction demands. Cemex has been involved in several significant transactions that enhance its position in the commercial construction market. Notable acquisitions include Ready Mix USA for $350 million, aimed at expanding their ready-mix concrete operations, and Rinker Group Limited, which consolidated their market presence in construction materials. More recently, in 2023, Cemex acquired Atlantic Materials to bolster its aggregate sourcing capabilities in the U.S., further solidifying its role as a key player in the commercial construction industry.


2. Votorantim

  • Website: votorantim.com.br
  • Type: Corporate
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 1918
  • Headcount: 51-200
  • LinkedIn: votorantim

Votorantim is an investment holding company founded in 1918, based in Sao Paulo, Brazil. It operates across various sectors, including construction materials, banking, renewable energy, and environmental services. Votorantim Cimentos, a key subsidiary, focuses on the production of cement and aggregates, which are essential components in commercial construction. Notable transactions include the acquisition of the South Cluster of HeidelbergCement in Spain, which encompasses a modern integrated cement plant and multiple ready-mix plants, aimed at strengthening its market presence. Additionally, Votorantim's partnership with Caisse de dépôt et placement du Québec to combine cement operations in North America highlights its strategic focus on enhancing production capacity and operational efficiencies in the construction materials sector. Furthermore, the acquisition of a stake in Brazilian infrastructure company CCR reflects Votorantim's broader interest in infrastructure, which is closely tied to commercial construction activities.


3. CSN - Companhia Siderúrgica Nacional

  • Website: csn.com.br
  • Type: Corporate
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 1941
  • Headcount: 10001+
  • LinkedIn: csn77

Companhia Siderúrgica Nacional (CSN) is a leading steel manufacturer and mining company based in Sao Paulo, Brazil, founded in 1941. With over 10,000 employees, CSN operates across various sectors, including steel production, mining, cement manufacturing, logistics, and energy. The company plays a vital role in the construction and manufacturing industries by supplying essential materials. Notably, CSN has made significant acquisitions to strengthen its position in the cement market, including the acquisition of LafargeHolcim Brasil for R$5.2 billion, which has positioned them as Brazil's second-largest cement producer. Additionally, their acquisition of Cimpor – Cimentos de Portugal for approximately €3.87 billion aims to create one of the world's largest cement producers, enhancing their presence in the global market. Furthermore, their recent purchase of GramPerfil, a steel profile producer, aims to bolster their capabilities in the civil construction sector. These transactions highlight CSN's strategic focus on supporting commercial construction through their diverse product offerings.


4. 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 Sooper, a Brazilian B2B marketplace for construction materials, which raised $5.7 million in a seed round led by Kaszek. This investment highlights their involvement in the commercial construction sector. Additionally, they have invested in La Haus, a real estate tech company operating in Mexico and Colombia, which raised significant funding across multiple rounds, indicating their interest in the real estate market that often overlaps with commercial construction.


5. Oria Capital


Oria Capital is a private equity firm based in Sao Paulo, Brazil, founded in 2009. The firm specializes in growth equity investments primarily in B2B technology companies, providing capital and strategic guidance to help these firms scale and innovate. In recent years, Oria Capital has made significant investments in the construction technology sector, including a notable $36 million Series C investment in Ambar Technologies, a Brazilian startup focused on digitizing construction processes in Latin America. This investment aims to expand Ambar's operations and client base in the construction industry. Additionally, Oria Capital led a funding round for GrupoRV, a company that develops solutions for the complete life cycle of real estate assets, further emphasizing their involvement in the commercial construction space. Their portfolio reflects a commitment to driving growth and innovation within the construction technology sector, making them a relevant player in the commercial construction investment landscape.


6. 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 founded in 2012, based in Costa Rica, that focuses on early-stage investments in innovation-driven companies across Latin America. The firm is dedicated to supporting entrepreneurs with the technical skills and determination to disrupt industries by providing them with the necessary funding and resources to grow their businesses. Among their notable transactions, Carao Ventures participated in a funding round for ObraLink, a Chilean construction technology startup, which raised $2 million. This investment highlights their interest in the construction sector, particularly in technology that enhances construction processes. Additionally, they have been involved in multiple funding rounds for BildTEK, a company that, while not explicitly stated as a construction firm, operates in a related space, indicating a broader interest in innovative solutions that may intersect with commercial construction.


7. BBVA en México

  • Website: bbva.mx
  • Type: Venture Capital
  • Headquarters: Cuauhtemoc, Ciudad De México, Mexico
  • Founded year: 1932
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: bbva-mexico

BBVA México is a prominent financial institution founded in 1932, located in Cuauhtemoc, Ciudad De México. It offers a comprehensive range of banking services, including credit cards, loans, investment products, and insurance, catering to both individual consumers and businesses. In 2024, BBVA has been involved in significant debt financing transactions, including a $67.4 million raise for 360 Industrial Parks and a $106.9 million raise for Walton Street Capital. These transactions highlight BBVA's active role in supporting commercial construction projects, showcasing their commitment to facilitating growth in the commercial real estate sector through financial services.


8. 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 in Latin America, providing capital, co-founding assistance, and fostering a strong community of entrepreneurs. Canary has been involved in several notable transactions within the commercial construction context, including investments in Sooper, a Brazilian B2B marketplace for construction materials, which raised a total of $5.7 million in seed funding with Canary's participation. Additionally, they invested in SuaQuadra, which raised $4.25 million to strengthen operations in the construction sector. Another relevant investment was in Hent, a proptech company that received R$ 5 million in funding from Canary. These transactions highlight Canary's engagement in the commercial construction industry, supporting innovative solutions and startups that cater to this market.


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 an investment management firm based in Sao Paulo, specializing in venture capital and private equity. Founded in 2004, the firm focuses on supporting innovative companies in Brazil by providing funding and enhancing their operational and governance structures. Their investment strategy targets technology-driven businesses across various sectors, contributing to the growth and development of the Brazilian market. Notably, Invest Tech Brazil has made investments in the commercial construction context, including Construmarket, which raised an undisclosed amount in a private equity round in January 2015, and e-Construmarket, which raised approximately $3.5 million in December 2015. These transactions highlight their engagement in the construction industry, making them a relevant player in this sector.


10. FIR Capital Partners


FIR Capital Partners is an investment firm based in Nova Lima, Minas Gerais, Brazil, specializing in venture capital and financial advisory services. Founded in 1999, the firm connects entrepreneurs and businesses with investors, providing strategic guidance and support for growth. FIR Capital focuses on small and medium enterprises across various sectors, leveraging its extensive experience and network to facilitate successful investments and business development. Notably, FIR Capital has been involved in significant transactions within the commercial construction context, including a notable investment in ABC da Construção, which received R$ 103 million from Duratex and additional funding in a venture round. This involvement highlights FIR Capital's engagement with the construction industry, particularly in supporting companies that are integral to the sector's growth and innovation.


11. RBR Asset Management

  • Website: rbrasset.com.br
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2014
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: rbr-asset-management

RBR Asset Management is an investment management firm based in Sao Paulo, Brazil, founded in 2014. The firm specializes in real estate and infrastructure investments, offering a variety of investment funds aimed at both individual and institutional investors. RBR Asset focuses on managing assets across residential, commercial, and logistics properties, as well as providing credit opportunities. Their investment activities primarily target the Brazilian and U.S. markets. In 2024, RBR Asset was involved in a significant transaction with Makasí, which raised over $20 million in a private equity round. This transaction, while not explicitly tied to commercial construction, reflects RBR's active engagement in sectors that can influence commercial real estate development and investment.


12. Apex Partners


Apex Partners is an investment management and financial advisory firm based in Santo Antônio Do Canaã, Espírito Santo, Brazil. Founded in 2013, the firm offers a range of services including asset management, wealth management, and investment banking, catering to both individual and business clients. Apex Partners focuses on providing tailored financial solutions to help clients achieve their investment goals across various sectors. In 2023, they were involved in a private equity round with Timenow Engenharia, a company in the construction industry, indicating their engagement in commercial construction investments. This transaction highlights their capability and willingness to invest in sectors that contribute to infrastructure and development, further supporting their relevance in the commercial construction space.


13. Construtech Ventures


Construtech Ventures is a venture capital firm based in Florianopolis, Santa Catarina, Brazil, founded in 2017. The firm specializes in investments related to construction technology, aiming to enhance operational efficiencies in the construction sector. One of their notable transactions includes a seed round investment in Reforma Feita, which raised an undisclosed amount in January 2020. This investment indicates their commitment to supporting innovative solutions within the construction industry. Additionally, Construtech Ventures is associated with LRC Locações, an equipment rental company that provides construction and industrial machinery, further solidifying their focus on the commercial construction space by catering to businesses that require high-quality equipment without the burden of ownership and maintenance.


14. Vinci Compass Brasil

  • Website: vincipartners.com
  • Type: Private Equity
  • Headquarters: Rio De Janeiro, Rio De Janeiro, Brazil
  • Founded year: 2009
  • Headcount: 501-1000
  • Number of deals in 2024: 3
  • LinkedIn: vincipartners

Vinci Compass Brasil is a private equity investment management firm based in Rio de Janeiro, Brazil, founded in 2009. The firm specializes in a diverse range of financial services, including Private Equity, Infrastructure, Real Estate, and Corporate Advisory. Vinci Partners serves institutional investors and high-net-worth individuals, assisting them in navigating investment opportunities and optimizing their portfolios for growth. One notable transaction involved PDG, where the firm raised an undisclosed amount in Post-IPO Equity on May 29, 2012. While this transaction does not explicitly indicate a focus on commercial construction, Vinci's engagement in infrastructure and real estate suggests a strategic interest in sectors that are closely linked to commercial construction activities.


15. 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 focuses on supporting tech founders in Latin America by providing funding, mentorship, and community resources to help startups scale and succeed. Latitud has been active in various sectors, including a notable investment in Licify, a Bogota-based startup that specializes in construction procurement and payments. Licify raised $3.4 million in Seed funding, indicating Latitud's interest in the commercial construction space. By connecting entrepreneurs with investors and offering essential tools, Latitud fosters growth in the tech ecosystem, including sectors related to construction.


16. G2 Momentum Capital


G2 Momentum Capital is a venture capital firm based in Mexico City, Mexico, founded in 2011. The firm specializes in investing in early-stage startups across Latin America, with a strong emphasis on disruptive and scalable technology-based business models. They provide not only capital but also consulting services to help entrepreneurs navigate the competitive landscape. In 2023, G2 Momentum Capital participated in a significant transaction involving Licify, a Bogota-based startup that focuses on construction procurement and payments. This investment highlights their engagement with the commercial construction sector, showcasing their interest in innovative solutions that can enhance efficiency and transparency in construction processes.


17. Opus Investimentos

  • Website: opus.com.br
  • Type: Private Equity
  • Headquarters: Centro, Rio De Janeiro, Brazil
  • Founded year: 2004
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: opus-investimentos

Opus Investimentos is a private equity firm based in Centro, Rio De Janeiro, Brazil, founded in 2004. The firm specializes in private equity and alternative investments, managing over R$ 7.2 billion in assets across diverse sectors, including healthcare and technology. Opus provides tailored investment management services to both individual and institutional clients, helping them navigate complex financial markets to achieve high returns. Notably, Opus has been involved in significant transactions such as their investment in Construtora Tenda, which raised an undisclosed amount in Post-IPO Equity in January 2022. This transaction highlights Opus's engagement in the commercial construction sector, reinforcing their relevance as an investor in this industry.



Commercial Construction Insights: Key Investors in Latin America


InvestorHeadquarterSizeFoundedDeals 2024
CemexMonterrey, Nuevo Leon, Mexico10001+19061
VotorantimSao Paulo, Sao Paulo, Brazil51-20019180
CSN - Companhia Siderúrgica NacionalSao Paulo, Sao Paulo, Brazil10001+19410
KaszekSao Paulo, Sao Paulo, Brazil11-50201117
Oria CapitalSao Paulo, Sao Paulo, Brazil11-5020090
Carao VenturesCosta Rica1-1020123
BBVA en MéxicoCuauhtemoc, Ciudad De México, Mexico10001+19322
CanarySao Paulo, Sao Paulo, Brazil11-50201723
Invest Tech BrazilSao Paulo, Sao Paulo, Brazil11-5020041
FIR Capital PartnersNova Lima, Minas Gerais, Brazil11-5019990
RBR Asset ManagementSao Paulo, Sao Paulo, Brazil11-5020141
Apex PartnersSanto Antônio Do Canaã, Espírito Santo, Brazil51-20020131
Construtech VenturesFlorianopolis, Santa Catarina, Brazil11-5020170
Vinci Compass BrasilRio De Janeiro, Rio De Janeiro, Brazil501-100020093
LatitudSao Paulo, Sao Paulo, Brazil11-50202024
G2 Momentum CapitalMexico City, Mexico City, Mexico1-1020112
Opus InvestimentosCentro, Rio De Janeiro, Brazil51-20020046


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