The physical therapy and rehabilitation industry in Latin America is a crucial sector focused on restoring functionality and enhancing quality of life for individuals recovering from injuries, surgeries, or chronic conditions. A variety of companies operate within this market, including clinics, health tech startups, and rehabilitation equipment manufacturers. Offerings range from therapeutic treatments and personalized care plans to state-of-the-art medical devices. The industry is experiencing growth fueled by increasing healthcare investments, a rising aging population, and a shift towards proactive health management, indicating promising trends in telehealth solutions and innovative therapy modalities that cater to modern patient needs.


Among the top investors in the Latin American physical therapy and rehabilitation space are venture capital firms and corporate entities primarily located in São Paulo, Brazil, and Mexico City. Established over the past two decades, these investors vary in size but share a common goal of nurturing innovative healthcare solutions. In 2024, they collectively made numerous deals ranging from early-stage funding to growth capital, showcasing a robust commitment to advancing the sector.


Top 19 Physical Therapy and Rehabilitation Investors in Latin America


1. 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 help these startups develop innovative solutions, particularly in biotechnology, digital health, and medical devices. Among its notable transactions, Eretz.bio has invested in companies like Neurobots and Hefesto Medtech, which may be involved in developing technologies relevant to physical therapy and rehabilitation. Additionally, Nilo Saúde, which raised $1.7 million in a Pre-Seed round, could also be working on solutions that intersect with rehabilitation practices. These investments indicate Eretz.bio's commitment to fostering innovation in healthcare, including areas that may benefit physical therapy and rehabilitation.


2. 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 address significant healthcare challenges, including mental health and chronic conditions. They provide funding and expertise to innovative startups in the healthcare technology sector. Notably, IKJ Capital has been involved in several transactions, including a $10 million investment in Genial Care, a healthtech startup focused on expanding its clinics and services for families with children diagnosed with autism. This investment highlights their interest in healthcare solutions that may intersect with physical therapy and rehabilitation. Additionally, they participated in funding rounds for Nilo Saúde, which focuses on improving healthcare platforms through data analytics and automation, further indicating their commitment to advancing healthcare technology.


3. 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. They specialize 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. Among their notable transactions in the healthcare sector are investments in Mais 60 Saude, Bem.care, and Tem Saúde, all of which are seed-stage companies that aim to improve health services. Additionally, their participation in the funding of Fiibo, a healthtech platform, further demonstrates their commitment to enhancing connectivity and autonomy in the healthcare market, which may include aspects of physical therapy and rehabilitation.


4. 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. They specialize in early-stage investments across Latin America, supporting entrepreneurs with capital, co-founding assistance, and fostering a strong community of builders. In 2024, they have made 23 investments, showcasing their active role in the startup ecosystem. Notably, they have invested in healthtech startups such as Genial Care, which focuses on providing guidance to families with children diagnosed with autism, and Nilo Saúde, which raised significant funding to enhance its health platform. These transactions highlight Canary's engagement in the healthcare sector, which is relevant to physical therapy and rehabilitation.


5. 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 commitment to fostering a vibrant technology ecosystem, Kaszek provides capital and strategic guidance to startups, helping them navigate growth challenges. Among their notable transactions, they have invested in dr.consulta, a healthcare startup that raised significant funds in Series B and C rounds, totaling over $75 million. This investment highlights their engagement in the healthcare sector, which includes potential applications in physical therapy and rehabilitation, making them a relevant player in this space.


6. Dasa

  • Website: dasa.com.br
  • Type: Corporate
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 1927
  • Headcount: 10001+
  • LinkedIn: dasa

Dasa is a leading healthcare provider in Brazil, founded in 1927, with a workforce of over 10,000 employees. The company offers a wide range of healthcare services, including medical diagnostics, vaccination, and hospital care, catering to both individual patients and businesses. Dasa operates a vast network of diagnostic units and hospitals across Brazil, positioning itself as a key player in the healthcare landscape. Notably, Dasa has made several strategic acquisitions to expand its service offerings. In 2020, Dasa acquired Grupo Leforte for approximately $343.6 million, which added three hospitals and five clinics to its network, potentially enhancing its capacity to provide rehabilitation services. Additionally, the acquisition of GEM Assistência Médica for $150 million in 2021 further solidified Dasa's presence in specialized medical services. These transactions indicate Dasa's commitment to expanding its healthcare services, which may include physical therapy and rehabilitation, although specific investments in these areas are not explicitly detailed.


7. 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. Notably, Crescera Capital acquired a 27% stake in Grupo Salus, a medical mobility and equipment manufacturer, for USD 55 million in April 2023. This investment highlights their engagement in the healthcare sector, particularly in products that may support physical therapy and rehabilitation. Additionally, they have participated in funding rounds for various healthcare-related entities, such as Hospital Vera Cruz and Hospital Care, further indicating their active role in the health industry.


8. 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 in the investment landscape, Kptl has made more than 124 investments, focusing on innovative startups across various industries. Notably, Kptl has invested in NeuroUp, which raised funds in a Series A round in October 2019, indicating their interest in the rehabilitation and therapy sector. Additionally, they have been involved in other ventures such as Grupo RPH, which raised funds in a Series A round in November 2011, further showcasing their engagement in health-related investments. Kptl's strategic guidance and capital support aim to help companies grow and succeed in their respective markets, including those in the physical therapy and rehabilitation space.


9. Kria

  • Website: kria.vc
  • Type: Corporate
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2014
  • Headcount: 11-50
  • LinkedIn: kria-vc

Kria is an investment platform based in Sao Paulo, Brazil, specializing in equity crowdfunding for startups and small businesses. Founded in 2014, Kria connects individual and institutional investors with high-potential companies seeking capital, thereby democratizing access to the private capital market. In recent years, Kria has facilitated investments in several healthtech startups, including Mais 60 Saude, Flip Saúde, and Suprevida. Suprevida, in particular, raised R$ 4 million in seed funding, with Kria playing a role in attracting retail investors to the healthtech sector. This involvement highlights Kria's commitment to supporting innovative healthcare solutions, which may include physical therapy and rehabilitation services.


10. 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 founded in 2020, based in Sao Paulo, Brazil, with a focus on transforming healthcare through technology. They invest in health technology startups and provide strategic support, leveraging partnerships with major health groups in Brazil. Kortex Ventures has been involved in several relevant transactions, including their participation in the funding rounds for Welbe Care, a B2B healthcare platform that could potentially offer services related to physical therapy and rehabilitation. They also invested in Sweetch, an Israeli healthtech startup that utilizes behavioral science technology, which may have applications in rehabilitation. Their mission is to identify and nurture innovative solutions in the healthcare sector, making them a relevant player in the physical therapy and rehabilitation space.


11. Maya Capital

  • Website: maya.capital
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2018
  • Headcount: 1-10
  • Number of deals in 2024: 8
  • LinkedIn: mayacapital

MAYA Capital is a venture capital firm based in Sao Paulo, Brazil, founded in 2018. The firm specializes in seed-stage investments in startups across Latin America, providing not only financial backing but also strategic support in areas such as hiring, market entry, and fundraising. Their portfolio includes notable investments in healthtech companies like Nilo Saúde, which raised $10M in a Series A funding round to enhance its healthcare platform through data analytics and automation. Additionally, they participated in earlier funding rounds for Nilo Saúde, including a $1.7M pre-seed round in 2020. Another investment includes Theia, which also raised $1.7M in a pre-seed round. These transactions highlight MAYA Capital's engagement in the healthcare sector, suggesting a potential interest in physical therapy and rehabilitation innovations.


12. 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 transactions, Monashees led a funding round for Livance, a Brazilian ehealth company, which raised $13.2 million to expand its physical network and enhance technology in the healthcare sector. This investment highlights Monashees' commitment to advancing healthcare solutions. Additionally, they have invested in Sami, a health-focused company, which raised significant funding in multiple rounds, indicating their ongoing interest in the healthcare industry. These transactions demonstrate Monashees' active role in supporting innovations that could impact physical therapy and rehabilitation.


13. 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 operates in multiple regions, focusing on the unique needs of local markets. Notably, they have been involved in several transactions relevant to the health sector, including investments in companies like Vívidus, Sanus, and Singu. These companies have raised funds in various rounds, indicating Apex Partners' commitment to supporting innovative health solutions, which may include aspects of physical therapy and rehabilitation.


14. Airborne Ventures

  • Website: airborne.ventures
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2021
  • Headcount: 1-10
  • Number of deals in 2024: 10
  • LinkedIn: airborne-ventures

Airborne Ventures is a venture capital firm based in Sao Paulo, Brazil, founded in 2021. The firm specializes in investing in early-stage startups, providing strategic guidance and networking opportunities to entrepreneurs. With a focus on value investing, Airborne Ventures aims to deliver strong returns by identifying promising startups across various sectors. Notably, they have been involved in transactions such as Zenklub, which received seed funding to enhance its platform for therapists, indicating a commitment to the therapy sector. Additionally, their investment in Beep Saúde, which raised over $17 million, further emphasizes their active role in health-related ventures. These transactions highlight Airborne Ventures' interest in supporting innovations within the physical therapy and rehabilitation space.


15. ArkFund


ArkFund is a venture capital firm based in San Francisco Tecoxpa, Ciudad De México, founded in 2016. The firm specializes in investing in early-stage startups across diverse sectors, including Fintech, Health, and Education. ArkFund is dedicated to supporting founders by providing capital, mentorship, and access to a community of experienced investors. Notably, they have invested in Terapify, a startup that likely operates in the health and wellness space, and Saludtools, which raised $1,000,000 in a Pre-Seed round, indicating a focus on health-related solutions. These transactions highlight ArkFund's engagement in the health sector, making them a relevant player in the physical therapy and rehabilitation investment landscape.


16. WAMEX Private Equity

  • Website: wamex.mx
  • Type: Corporate
  • Headquarters: Mexico City, Mexico City, Mexico
  • Founded year: 1999
  • Headcount: 11-50
  • LinkedIn: wamex-private-equity

WAMEX Private Equity is a private equity firm based in Mexico City, founded in 1999. The firm specializes in investments in middle-market companies across various sectors, including healthcare, energy, and real estate. They provide financial and strategic advisory services to help businesses grow and navigate market challenges. Notably, WAMEX has invested in Productos Medix, S.A., which raised $32 million in a private equity round in 2013, indicating their interest in the healthcare sector. Additionally, they have been involved with MediAccess, which also suggests a focus on healthcare services. Their portfolio includes companies like Hoteles City Express and Medix, emphasizing their strategy to enhance operational efficiency and market presence in diverse industries, including healthcare.


17. 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 leading pharmacy chain operating over 2,500 stores under the Drogasil and Droga Raia brands. The company focuses on providing a wide range of health and wellness products, including prescription and over-the-counter medications. In recent years, Raia Drogasil has made strategic acquisitions to expand its healthcare offerings. Notably, in 2020, they acquired Manipulae, a company specializing in physiotherapy and rehabilitation services, which enhances their portfolio in the physical therapy sector. Additionally, their acquisitions of HealthBit and CUCO Health in 2021 further demonstrate their commitment to integrating technology and innovative health solutions into their services, potentially benefiting the rehabilitation and physical therapy landscape.


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 aims to support entrepreneurs with the technical skills and determination to disrupt industries by providing them with the necessary funding and resources to grow their businesses. Notably, Carao Ventures has been involved in several healthtech transactions, including a $2 million investment in Huli, a Costa Rican healthtech SaaS platform, and participation in a $26 million Series C financing round for Levita Magnetics, which focuses on Magnetic-Assisted Robotic Surgery. Additionally, they invested in HuliHealth, which raised $2 million in a convertible note, further emphasizing their engagement in the health technology sector. These transactions highlight Carao Ventures' commitment to supporting innovative health solutions, which may include applications in physical therapy and rehabilitation.


19. Onevc

  • Website: onevc.vc
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2017
  • Headcount: 1-10
  • Number of deals in 2024: 9
  • LinkedIn: onevc

ONEVC is a venture capital firm based in Sao Paulo, Brazil, founded in 2017. The firm specializes in seed-stage investments in Latin America, providing financial backing and operational assistance to startup founders, particularly in talent acquisition and business strategy. Onevc has been involved in several notable transactions, including investments in healthcare-related companies. For instance, they participated in funding rounds for Pipo Saúde, a Brazilian healthcare services provider, which raised significant capital to scale its business and expand its footprint in Brazil. This involvement in healthcare indicates a potential interest in sectors related to physical therapy and rehabilitation, making them a relevant player in this space.



Physical Therapy and Rehabilitation Insights: Key Investors in Latin America


InvestorHeadquarterSizeFoundedDeals 2024
Eretz.bioSao Paulo, Sao Paulo, Brazil11-50201716
IKJ CapitalSao Paulo, Sao Paulo, Brazil1-1020197
VOX CapitalSao Paulo, Sao Paulo, Brazil11-5020091
CanarySao Paulo, Sao Paulo, Brazil11-50201723
KaszekSao Paulo, Sao Paulo, Brazil11-50201117
DasaSao Paulo, Sao Paulo, Brazil10001+19270
Crescera CapitalRio De Janeiro, Rio De Janeiro, Brazil11-5020087
KptlSao Paulo, Sao Paulo, Brazil11-5020205
KriaSao Paulo, Sao Paulo, Brazil11-5020140
Kortex VenturesSao Paulo, Sao Paulo, Brazil1-1020202
Maya CapitalSao Paulo, Sao Paulo, Brazil1-1020188
MonasheesSao Paulo, Sao Paulo, Brazil11-50200518
Apex PartnersSanto Antônio Do Canaã, Espírito Santo, Brazil51-20020131
Airborne VenturesSao Paulo, Sao Paulo, Brazil1-10202110
ArkFundSan Francisco Tecoxpa, Ciudad De México, Mexico1-1020160
WAMEX Private EquityMexico City, Mexico City, Mexico11-5019990
Raia DrogasilSao Paulo, Sao Paulo, Brazil10001+20110
Carao VenturesCosta Rica1-1020123
OnevcSao Paulo, Sao Paulo, Brazil1-1020179


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