The pharmaceuticals industry in Latin America is rapidly evolving, driven by growing healthcare demands and an increasing focus on innovation. This sector comprises both large multinational corporations and dynamic startups, offering a wide array of products from traditional medications to biopharmaceuticals. With rising health challenges, companies are emphasizing research and development, particularly in biotechnology and generic drugs. The industry's future appears bright, buoyed by a greater push for technology integration and digital health solutions, promising enhanced patient care and access to a wider range of treatments. This transformation opens up vast opportunities for growth and collaboration.


In the investment arena, Latin America's pharmaceuticals landscape hosts a variety of players, including venture capital and private equity firms. Headquartered primarily in Sao Paulo and Santiago, these investors range in size from small teams with fewer than 10 employees to large corporations with thousands. Established since 2008, the firms on this list have collectively made numerous investments, totaling 55 deals in 2024 alone. Their collective expertise and financial backing have positioned them to support innovative health solutions while tapping into the increasing demand for pharmaceutical advancements in the region.


Top 18 Pharmaceuticals 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 shown interest in the pharmaceuticals industry. In 2020, Bossa Invest participated in the seed funding rounds for several pharmaceutical companies, including Gilgamesh Pharmaceuticals, which focuses on drug development, and Altay Therapeutics, which is involved in therapeutic solutions. Additionally, they have invested in Gen1E Lifesciences, further demonstrating their engagement in the life sciences sector. Bossa Invest supports startups by providing capital, strategic guidance, and access to a network of co-investors, while also offering educational resources to empower entrepreneurs and foster growth in the startup ecosystem.


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 significant transactions, including seed rounds for companies such as RadBio, Pangea Bio, and Oncobiomed, all of which are relevant to the pharmaceuticals context. Additionally, they participated in a venture round for Speratum Biopharma, Inc., further emphasizing their engagement in the biopharmaceutical space. This active involvement in funding healthcare startups positions Eretz.bio as a key player in the innovation landscape of pharmaceuticals and biotechnology.


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, including 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. Notable transactions include their support for Pannex Therapeutics Inc. in a Pre-Seed round and Botanical Solutions in multiple Seed rounds, where they raised significant amounts of funding. These transactions highlight their active role in fostering biotech innovations that often intersect with the pharmaceuticals sector.


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, providing 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 have participated in significant funding rounds for biotechnology companies such as BigHat Biosciences, which raised $75 million in a Series B round to enhance its AI/ML-wet lab platform and advance therapeutic programs. They also invested in Recursion Pharmaceuticals during its Series C round and Endpoint Health in its Series A round, both of which are focused on leveraging technology to improve drug discovery and healthcare solutions. These transactions highlight GRIDS Capital's active role in the pharmaceuticals sector, particularly in supporting companies that are developing innovative therapies and technologies.


5. 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 operates globally and focuses on both early and late-stage investments. Notable transactions include their investment in Spotlight Therapeutics, which raised $30 million in Series A funding, and their significant involvement with Memed, a healthtech company specializing in digital medical prescriptions, where they led a funding round investing R$ 300 million. These transactions highlight DNA Capital's active role in the healthcare and pharmaceuticals landscape, making them a relevant player in this industry.


6. 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 early-stage investments in healthcare technology companies, aiming to tackle significant healthcare challenges such as mental health and chronic conditions. In 2024, IKJ Capital participated in several notable transactions, including a $7 million seed round for Portal and a $5 million pre-seed round for the same company. They also invested in Perceiv AI, which raised $1.5 million to expand its prognostic platform, indicating a focus on innovative solutions that could impact pharmaceuticals. Other investments include Locke Bio and Earli, showcasing their commitment to supporting startups that are likely to influence the healthcare landscape, including pharmaceuticals.


7. 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. Notable transactions include leading a $10 million Series A-1 financing for Autem Therapeutics, which is developing a novel bioelectric oncology treatment platform targeting solid tumor cancers. They also participated in a $2.5 million seed round for Xeptiva Therapeutics in 2024, and have been involved in other funding rounds for companies like Asclepii and BIOMAKERS, further emphasizing their active role in the biotechnology and pharmaceuticals landscape.


8. 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 focuses on supporting the development of scientific and technological startups, providing venture capital investment, mentorship, and access to resources for early-stage companies. Cites has been involved in several notable transactions in the pharmaceuticals sector, including a significant investment in Eolo Pharma, which is dedicated to developing new anti-obesity drugs and is currently advancing its drug trials to human testing. Additionally, Cites has invested in ARDAN PHARMA and RadBio, both of which are in the early stages of their development, indicating Cites' commitment to fostering innovation in the pharmaceutical industry. Overall, Cites plays a crucial role in nurturing startups that aim to transform innovative ideas into successful pharmaceutical solutions.


9. 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 early-stage investments, focusing on disruptive innovations that are relevant for humanity. AIR Capital supports entrepreneurs by providing 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 notable investments in the pharmaceuticals context, such as Aplife Biotech, which focuses on biotechnological advancements, and Oncoliq, which is involved in oncology-related innovations. These transactions highlight AIR Capital's commitment to fostering innovation in the health sector, making them a significant player in the pharmaceuticals investment landscape.


10. 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 a team that boasts over 15 years of experience, Kptl has made over 124 investments, focusing on innovative startups across various sectors. Among their notable transactions in the pharmaceuticals context are investments in Celer Biotecnologia, which raised $857,480 in a Series A round in June 2008, and Vida Biotecnologia, which secured an undisclosed amount in a venture round in January 2012. Additionally, Kptl invested in Omics Animal Biotechnology in January 2023, further emphasizing their interest in biotechnology and its applications in pharmaceuticals. This diverse portfolio showcases Kptl's strategic guidance and capital provision to help companies grow in their respective markets, including the pharmaceuticals sector.


11. Raia Drogasil

  • Website: rd.com.br
  • Type: Corporate
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2011
  • Headcount: 10001+
  • LinkedIn: raia-drogasil

Raia Drogasil, founded in 2011 and based in Sao Paulo, Brazil, is a prominent corporate investor in the pharmaceuticals industry, operating over 2,500 stores under the Drogasil and Droga Raia brands. The company specializes in providing a comprehensive range of health and wellness products, including both prescription and over-the-counter medications. In recent years, Raia Drogasil has made several strategic acquisitions to bolster its position in the market. Notable transactions include the acquisition of CUCO Health in August 2021, which likely enhances their digital health capabilities, and the acquisition of Manipulae in September 2020, which may strengthen their pharmaceutical compounding services. Additionally, the acquisition of HealthBit in November 2021 further indicates their commitment to integrating technology within the healthcare space. These transactions reflect Raia Drogasil's active role in the pharmaceuticals sector, focusing on improving accessibility and innovation in healthcare solutions.


12. 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 made significant investments in the healthcare sector, including Tem Saúde, which raised $1,128,851 in a Seed Round in 2015, and ISA Saúde, which raised $17,000,000 in a Series A round in 2022. Other relevant transactions include Wecancer, which raised $494,976 in a Seed Round in 2020, and Kidopi, which received funding in 2016. These transactions highlight VOX Capital's active role in supporting healthcare initiatives, which are closely related to the pharmaceuticals industry.


13. 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 across various sectors, including education, technology, and health. Crescera aims to enhance operational performance and prepare companies for market opportunities. Notably, they have been involved in several transactions relevant to the healthcare sector, such as Hospital Care and Hospital Vera Cruz, which raised undisclosed amounts in private equity rounds. These investments suggest a focus on healthcare services, which may intersect with pharmaceuticals, although they do not directly invest in pharmaceutical companies. Additionally, their investment in Ventrix, a company that raised funds in a seed round, further highlights their engagement in the health sector, albeit indirectly related to pharmaceuticals.


14. Crp

  • Website: crp.com.br
  • Type: Corporate
  • Headquarters: Porto Alegre, Rio Grande Do Sul, Brazil
  • Founded year: 1981
  • Headcount: 11-50
  • LinkedIn: crp

CRP Companhia de Participações is an investment firm based in Porto Alegre, Rio Grande Do Sul, Brazil, founded in 1981. With over 35 years of experience, CRP specializes in private equity and venture capital, providing capital and strategic support to small and medium-sized enterprises, as well as larger companies seeking growth. Their portfolio includes diverse sectors, with notable transactions such as JA Saúde Animal, which raised funds in a private equity round, indicating a connection to the health and pharmaceuticals sector. Other investments include Nano, which raised funds in a Series C round, and Sensorweb, which secured funding in a Series A round. Additionally, Neoprospecta also received investment through a private equity round, further showcasing CRP's engagement in various innovative sectors. While their focus is broad, the presence of health-related investments suggests a potential interest in pharmaceuticals.


15. Grupo Elfa


Grupo Elfa is a corporate investor based in Sao Paulo, Brazil, founded in 1990. As a key player in the healthcare supply chain, Grupo Elfa specializes in the distribution of pharmaceuticals and medical supplies, serving hospitals, clinics, and health plans across Brazil. With over 30 years of experience, the company enhances operational efficiency through its logistics services. Notably, Grupo Elfa has made significant acquisitions in the pharmaceuticals sector, including the purchase of Agilfarma Medicamentos through its subsidiary Prescrita Medicamentos in July 2019, which aimed to strengthen its presence in southern Brazil. In January 2021, they further expanded their portfolio by acquiring Dupatri for $34.7 million. These transactions underscore Grupo Elfa's commitment to enhancing its pharmaceutical distribution capabilities and solidifying its position in the industry.


16. 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 investment management 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 recently made significant strides in the pharmaceuticals sector, participating in funding rounds for innovative companies. Notably, they were involved in a €6.7 million pre-series A funding round for OneChain Immunotherapeutics, which is developing CAR-T therapies, and led a €5.4 million funding round for ADmit Therapeutics, aimed at obtaining regulatory approvals for Alzheimer's treatment. Additionally, they invested in MiMARK Diagnostics, which is developing diagnostic assays for endometrial cancer. These transactions highlight Clave Capital's commitment to supporting advancements in healthcare and pharmaceuticals, making them a relevant player in this industry.


17. Draper Cygnus

  • Website: drapercygnus.vc
  • Type: Venture Capital
  • Headquarters: Lomas Del Mirador, Buenos Aires, Argentina
  • Founded year: 2017
  • Headcount: 1-10
  • Number of deals in 2024: 4
  • LinkedIn: drapercygnus

Draper Cygnus is a venture capital firm based in Lomas Del Mirador, Buenos Aires, Argentina, founded in 2017. The firm specializes in investing in deep-tech startups founded by Latino entrepreneurs, providing both funding and support to help these companies innovate across various sectors, including AI, biotechnology, and space technology. In 2024, Draper Cygnus participated in a Seed Round for Ayuvant, which may indicate a focus on health-related technologies. Additionally, they have made investments in other startups like Panarum and ArgenTag, although the specific relevance of these companies to pharmaceuticals is not detailed. Their mission is to empower Latino founders and reshape the future through deep-tech innovation, which includes biotechnology as a key area of interest.


18. Fen Ventures

  • Website: fenventures.com
  • Type: Venture Capital
  • Headquarters: Las Condes, Santiago, Chile
  • Founded year: 2012
  • Headcount: 1-10
  • Number of deals in 2024: 5
  • LinkedIn: fen-ventures

Fen Ventures is a venture capital firm based in Las Condes, Santiago, Chile, founded in 2012. The firm specializes in early-stage startups within the Latin American tech sector, providing investment capital, strategic support, and networking opportunities to entrepreneurs aiming to scale their businesses globally. Notably, Fen Ventures has participated in several transactions relevant to the pharmaceuticals industry, including a $2.5 million seed round for Xeptiva Therapeutics, which focuses on therapeutic solutions. They also invested in Bioeutectics, which raised $2.1 million for their green solvents, and Michroma, which closed a $6.4 million seed funding round, indicating their engagement in biotech and life sciences. These investments highlight Fen Ventures' commitment to fostering innovation in the pharmaceuticals sector alongside their broader tech focus.



Pharmaceuticals 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
DNA CapitalSao Paulo, Sao Paulo, Brazil11-5020131
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
Raia DrogasilSao Paulo, Sao Paulo, Brazil10001+20110
VOX CapitalSao Paulo, Sao Paulo, Brazil11-5020091
Crescera CapitalRio De Janeiro, Rio De Janeiro, Brazil11-5020087
CrpPorto Alegre, Rio Grande Do Sul, Brazil11-5019810
Grupo ElfaSao Paulo, Sao Paulo, Brazil1001-500019900
Clave CapitalJardim Paulista, Sao Paulo, Brazil11-5020211
Draper CygnusLomas Del Mirador, Buenos Aires, Argentina1-1020174
Fen VenturesLas Condes, Santiago, Chile1-1020125


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