The pharmaceutical clinical trials industry in Latin America plays a crucial role in the global healthcare ecosystem. It includes biotechnology firms, contract research organizations, and pharmaceutical companies engaged in conducting clinical studies to evaluate new treatments across various indications. With growing regulatory frameworks and advancements in technology, the region is becoming an attractive destination for pharmaceutical research. Insights show that there is a burgeoning interest in local talent and innovation, paving the way for significant breakthroughs that could contribute to health solutions both regionally and internationally.


In 2024, 18 investors actively participated in the Latin American pharmaceutical clinical trials space, ranging from corporate investors to venture capital firms. Most are headquartered in booming centers like Sao Paulo and Santiago, showcasing the region's entrepreneurial spirit. These investors vary in size, engaging from small teams to well-established organizations, signaling robust confidence in health innovation. Their deal activity indicates a growing trend, with notable transaction numbers reflecting increased support for early-stage biotech and healthcare companies in a rapidly evolving market.


Top 18 Pharmaceutical Clinical Trials 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, but has also made significant investments in the life sciences field. They provide capital, strategic guidance, and access to a network of co-investors to support startups. Notably, Bossa Invest has participated in seed rounds for Tilda Research and Gen1E Lifesciences, both of which are involved in pharmaceutical research. Additionally, their investment in Caribou Biosciences, which raised $115 million in a Series C round, highlights their interest in biotechnology and CRISPR technology, which are crucial for advancing clinical trials in oncology. Bossa Invest also aims to empower entrepreneurs and foster growth in the startup ecosystem, which includes supporting companies that may contribute to pharmaceutical advancements.


2. 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. In 2024, Eretz.bio has been involved in several transactions, including seed rounds for companies like Oncobiomed, Pangea Bio, and RadBio, which may be engaged in pharmaceutical development. Additionally, their investment in Speratum Biopharma, Inc. during a venture round further highlights their involvement in the biopharmaceutical sector, indicating a commitment to supporting companies that could be conducting clinical trials for new therapies.


3. The Ganesha Lab

  • Website: theganeshalab.com
  • Type: Corporate
  • Headquarters: Las Condes, Santiago, Chile
  • Founded year: 2016
  • Headcount: 1-10
  • Number of deals in 2024: 5
  • LinkedIn: ganeshalab

The Ganesha Lab is a biotech accelerator based in Las Condes, Santiago, Chile, founded in 2016. It supports early-stage biotech startups in Latin America through various programs such as BIGinBIO and Scale Up. The Ganesha Lab provides mentorship, workshops, and access to funding, helping startups navigate the complexities of the biotech industry and scale their innovations for global impact. Notably, they have been involved in several transactions, including investments in Pannex Therapeutics Inc., which raised funds in a Pre-Seed round, and Botanical Solutions, which secured $3.3 million in a Seed round. These transactions indicate their active role in supporting biotech ventures that may be engaged in pharmaceutical development and clinical trials.


4. GRIDS Capital

  • Website: gridscapital.com
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2016
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: grids-capital

GRIDS Capital is a venture capital firm based in Sao Paulo, Brazil, founded in 2016. The firm specializes in deep tech ventures and provides investment and market analysis services to entrepreneurs and businesses in advanced technology sectors. GRIDS Capital has built a diverse portfolio that supports innovation in various industries, including artificial intelligence and life sciences. Notably, they participated in significant funding rounds for biotechnology companies such as BigHat Biosciences, which raised $75 million in Series B funding to scale its AI/ML-wet lab platform and advance therapeutic programs. They also invested in Immusoft, a biotech startup focused on gene therapy technology, which raised $20 million in Series B funding. These transactions highlight GRIDS Capital's active role in the life sciences sector, particularly in areas relevant to pharmaceutical clinical trials.


5. 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 that aim to tackle significant healthcare challenges, such as mental health and chronic conditions. IKJ Capital provides both funding and expertise to innovative startups in the healthcare sector. Notable transactions include their investment in Perceiv AI, which raised $1.5 million to expand its prognostic platform, indicating a focus on health technology that could support clinical research. They also participated in funding rounds for companies like Iterative Scopes and Portal, which are involved in healthcare solutions. These investments reflect IKJ Capital's commitment to advancing healthcare technology, which is often intertwined with pharmaceutical development and clinical trials.


6. Zentynel Frontier Investments


Zentynel Frontier Investments is a venture capital firm based in Santiago, Chile, founded in 2017. The firm specializes in biotechnology investments, providing financial backing and management expertise to innovative startups in the sector. Zentynel focuses on high-growth potential companies, helping them navigate the challenges of funding and market entry. Notably, they have participated in several relevant transactions, including a $10 million Series A-1 financing for Autem Therapeutics, which is developing a novel bioelectric oncology treatment platform targeting Hepatocellular Carcinoma and is preparing for clinical trials. Additionally, they have invested in Xeptiva Therapeutics and Asclepii, both of which are in the early stages of development, indicating a strong interest in supporting companies that may lead to significant advancements in the pharmaceutical field.


7. Cites

  • Website: cites-gss.com
  • Type: Venture Capital
  • Headquarters: Sunchales, Santa Fe, Argentina
  • Founded year: 2014
  • Headcount: 51-200
  • Number of deals in 2024: 2
  • LinkedIn: cites

Cites is a venture capital firm based in Sunchales, Santa Fe, Argentina, founded in 2014. The firm specializes in supporting the development of scientific and technological startups, providing venture capital investment, mentorship, and access to resources. Cites primarily targets early-stage startups looking to transform innovative ideas into successful businesses. Notably, Cites has invested in several companies within the pharmaceutical and biotechnology sectors, including Eolo Pharma, which received a $2.7 million investment to advance the development of new anti-obesity drugs, focusing on preclinical and toxicological phases and moving towards human testing. Other investments include ARDAN PHARMA, RadBio, and Viewmind, indicating a broader interest in health-related startups, further solidifying their relevance in the pharmaceutical clinical trials landscape.


8. 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 across various industries, with a notable emphasis on biotechnology and healthcare. Among their relevant transactions, AIR Capital has invested in companies such as Aplife Biotech, which is likely involved in biopharmaceutical development, and Oncoliq, which may focus on oncology-related innovations. These investments highlight AIR Capital's commitment to fostering innovation in the pharmaceutical sector, particularly in areas that could lead to advancements in clinical trials and drug development.


9. Kptl

  • Website: kptl.com.br
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2020
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: inseed-investimentos

KPTL is a venture capital firm based in Sao Paulo, Brazil, founded in 2020. With over 15 years of experience, KPTL has made more than 124 investments, focusing on innovative startups across various sectors. Among their notable transactions, they have invested in companies such as Grupo RPH, which raised $1,824,745 in a Series A round, and Celer Biotecnologia, which raised $857,480 in a Series A round. Additionally, they have backed Omics Animal Biotechnology and Vida Biotecnologia, both of which are involved in biotechnology, a field closely related to pharmaceuticals and clinical trials. These investments highlight Kptl's commitment to supporting companies that may contribute to advancements in healthcare and pharmaceuticals.


10. 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 businesses and startups to provide capital and strategic support aimed at fostering growth and innovation in the healthcare sector. DNA Capital has been involved in several notable transactions, including a $30 million Series A investment in Spotlight Therapeutics, which focuses on developing RNA-targeted therapies, and a $30 million Series C investment in Cambridge Epigenetix, a company that works on epigenetic technologies that can be crucial for drug development and clinical trials. Additionally, they invested in Memed, which raised $17.7 million in Series C funding, indicating their active role in supporting healthcare innovations that may involve clinical trials.


11. Clave Capital

  • Website: clavecapital.com.br
  • Type: Venture Capital
  • Headquarters: Jardim Paulista, Sao Paulo, Brazil
  • Founded year: 2021
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: clavecapital

Clave Capital is a venture capital firm based in Jardim Paulista, Sao Paulo, Brazil, founded in 2021. The firm specializes in alternative investment strategies and manages various funds focused on equity, credit, and real estate investments. Clave Capital has a commitment to excellence and disciplined capital allocation, catering to businesses and individual investors seeking effective asset management and financial growth. Notably, Clave Capital has been involved in significant transactions within the pharmaceutical sector, including a €6.7 million investment in OneChain Immunotherapeutics, which is working on innovative solutions for clinical applications, and a €5.4 million funding round for ADmit Therapeutics, aimed at obtaining regulatory approvals for its Alzheimer's treatment. Additionally, they participated in funding rounds for MiMARK, a company developing diagnostic assays for endometrial cancer, further showcasing their engagement in the pharmaceutical clinical trials landscape.


12. Aurus

  • Website: aurus.cl
  • Type: Venture Capital
  • Headquarters: Lo Barnechea, Santiago, Chile
  • Founded year: 2008
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: aurus

Aurus is a venture capital firm based in Lo Barnechea, Santiago, Chile, founded in 2008. The firm partners with entrepreneurs and startups, providing strategic advisory, recruitment, and crisis management services. Aurus focuses on supporting high-potential businesses in navigating challenges and achieving growth. Notably, Aurus has been involved in several funding rounds for Andes Biotechnologies, a company that has raised capital through Series A and Series B rounds, as well as multiple venture rounds from 2010 to 2014. This involvement highlights Aurus's engagement in the biotechnology sector, which is closely linked to pharmaceutical development and clinical trials.


13. big_bets

  • Website: bigbets.com.br
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2019
  • Headcount: 1-10
  • Number of deals in 2024: 10
  • LinkedIn:

big_bets is a venture capital firm based in Sao Paulo, Brazil, founded in 2019. The firm specializes in investment and consulting for technology startups, providing strategic guidance and mentoring to help early-stage companies grow. In 2024, big_bets has made 10 investments, including notable transactions in the pharmaceutical sector such as Pepper Bio, a drug discovery startup that raised $6.5 million in a seed round, and Menten AI, which also raised an undisclosed amount in a seed round. These investments highlight big_bets' engagement with innovative companies in the pharmaceutical space, particularly those involved in drug discovery and development, aligning with their mission to support entrepreneurs in navigating challenges and achieving growth.


14. Femsa

  • Website: femsa.com
  • Type: Corporate
  • Headquarters: Monterrey, Nuevo Leon, Mexico
  • Founded year: 1890
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: femsa

Fomento Económico Mexicano S.A.B. de C.V. (Femsa) is a multinational company based in Monterrey, Nuevo Leon, Mexico, primarily known for its operations in the beverage and retail sectors. As the largest Coca-Cola bottler globally, Femsa also operates OXXO, a chain of convenience stores, serving consumers and businesses across 18 countries. In recent years, Femsa has expanded its footprint in the pharmaceutical sector through strategic acquisitions. Notably, in 2019, Femsa Comercio acquired Corporación GPF, a leading drugstore operator in Ecuador, as part of its strategy to enhance its drugstore presence in South America. Additionally, Femsa Comercio acquired Farmacias Farmacon in 2015, which operates over 200 stores in Mexico. These transactions highlight Femsa's commitment to diversifying its portfolio and investing in the pharmaceutical retail space, making it a relevant player in the pharmaceutical industry.


15. 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 is dedicated to sustainable development in Latin America, investing in early and growth-stage companies across various sectors, including energy, agriculture, and healthcare. Notably, Veronorte has participated in significant funding rounds for biotechnology companies, such as Nuritas, which raised $45 million in a Series B round, and Shiru, a biotech start-up that raised $17 million in a Series A round. These investments highlight Veronorte's engagement in the healthcare sector, particularly in companies that may be involved in pharmaceutical clinical trials, thereby enhancing their profile as an investor in this field.


16. Invariantes Fund


Invariantes Fund is a venture capital fund based in Guatemala, founded in 2015, that specializes in investing in early-stage startups across the US and Latin America. The fund provides not only capital but also strategic support, helping startups connect with potential clients and investors. Their focus is primarily on technology-driven companies, particularly in software and hardware sectors. Notably, Invariantes Fund participated in a Series B funding round for Immusoft, a gene therapy startup that is advancing its treatment for Hurler's Syndrome into clinical trials, highlighting their engagement in the pharmaceutical sector. This involvement demonstrates their capacity to invest in companies that are directly related to clinical trials, despite their broader focus on technology.


17. Kortex Ventures

  • Website: kortexventures.com
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2020
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: kortexventures

Kortex Ventures is a venture capital firm based in Sao Paulo, Brazil, founded in 2020. The firm focuses on transforming healthcare through technology by investing in health technology startups and providing strategic support. They leverage partnerships with major health groups in Brazil to identify and nurture innovative solutions in the healthcare sector. Notable transactions include participation in a $20 million Series A funding round for Sweetch, an Israeli healthtech startup, and a R$10 million Series A funding round for NeuralMed, which indicates their engagement in the health technology space. In 2024, they also invested $1.2 million in Biologix, further demonstrating their active role in supporting health-related innovations.


18. 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, providing them with the necessary funding and resources to grow their businesses. Notably, Carao Ventures has invested in Speratum Biopharma, Inc., providing $2 million in a convertible note in 2018 and $800,000 in a seed round in 2014, both of which are significant contributions to a company likely involved in pharmaceutical development and clinical trials. Additionally, they participated in a $26 million Series C financing round for Levita Magnetics, a company focused on healthtech innovations, which indicates their broader interest in the healthcare sector.



Pharmaceutical Clinical Trials Insights: Key Investors in Latin America


InvestorHeadquarterSizeFoundedDeals 2024
bossa investSao Paulo, Sao Paulo, Brazil11-50201156
Eretz.bioSao Paulo, Sao Paulo, Brazil11-50201716
The Ganesha LabLas Condes, Santiago, Chile1-1020165
GRIDS CapitalSao Paulo, Sao Paulo, Brazil1-1020161
IKJ CapitalSao Paulo, Sao Paulo, Brazil1-1020197
Zentynel Frontier InvestmentsSantiago, Santiago, Chile1-1020174
CitesSunchales, Santa Fe, Argentina51-20020142
AIR CapitalBuenos Aires, Buenos Aires, Argentina1-10202113
KptlSao Paulo, Sao Paulo, Brazil11-5020205
DNA CapitalSao Paulo, Sao Paulo, Brazil11-5020131
Clave CapitalJardim Paulista, Sao Paulo, Brazil11-5020211
AurusLo Barnechea, Santiago, Chile11-5020081
big_betsSao Paulo, Sao Paulo, Brazil1-10201910
FemsaMonterrey, Nuevo Leon, Mexico10001+18903
VeronorteSabanalarga, Antioquia, Colombia1-1020120
Invariantes FundGuatemala1-1020153
Kortex VenturesSao Paulo, Sao Paulo, Brazil1-1020202
Carao VenturesCosta Rica1-1020123


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