The first half of 2024 saw a consistent outperformance of 2023’s venture capital activity in LATAM. However, as the second half began, July and August showed a deceleration, with year-over-year declines in funding volume. It’s important to highlight that both July and August of 2023 were exceptionally strong, setting the highest benchmarks of that year.
In August 2024, startups in Latin America raised $527 million across 54 funding rounds, a 73% increase from July. Nevertheless, this still marked a 56% drop compared to the same period last year. Of the total amount raised, $259 million came from equity financing spread over 51 rounds, making up nearly half of the region’s investments. Interestingly, just three major rounds—two in debt and one in receivables—accounted for 50% of August’s total funding.
A notable highlight was the Mexican fintech Stori, which attracted $105 million in equity from Notable Capital and BAI Capital, alongside an additional $107 million in a debt financing round led by Goldman Sachs. These deals collectively represented 40% of all investments in Latin American startups during August.
