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Latin American Startups Had Record Venture Capital Deals in 2020

  • Region’s tech firms signed 488 financing deals last year
  • IPOs in hot Brazilian stock market fueled $11 billion in exits
Record Deals

Latin America’s burgeoning tech industry struck a record number of venture capital deals last year as some of the region’s most-valuable startups saw their businesses blossom despite -- and in some cases due to -- the pandemic.

Investors inked 488 deals with entrepreneurs, topping the previous mark set in 2018, according to the Latin American Private Equity & Venture Capital Association known as LAVCA. While the amount raised -- $4.1 billion -- was about 10% below 2019, international funds like SoftBank Group Corp. continued to invest, said Ivonne Cuello, LAVCA’s chief executive.