Who manages the most capital in LatAm? The 10 VC firms with the highest AUM

The venture capital ecosystem in LATAM has undergone a significant transformation over the past decade, giving rise to a small group of firms that manage a large share of the capital invested in startups and have backed some of the region’s most prominent tech companies.

A selective rebound in venture investment

According to the Latin America VC Report 2026 by Startuplinks and Cuantico VP, 2025 marked a turning point, with a selective rebound in investment. A total of 4,126 million dollars was invested across 681 rounds.

This trend reflects a market with greater capital availability, but directed toward fewer startups and subject to more stringent selection criteria. In this context, firms with greater experience, scale, and global networks have strengthened their prominence by leading the most competitive rounds and attracting international co-investors.

SoftBank Latin America Fund

One of the most prominent players is SoftBank Latin America Fund, which leads the ranking with approximately 8 billion dollars under management focused on the region.

The fund has become a catalyst for late-stagerounds, driving large-scale investments. Its portfolio includes VTEX, which went public on the New York Stock Exchange, and QuintoAndar, a proptech that achieved unicorn status.

Kaszek

Kaszek, with close to 3 billion dollars in assets under management, ranks among the most influential firms in early-stage investing in Latin America.

Founded by former Mercado Libre executives, the firm made early bets on companies such as Nubank, Creditas, and NotCo, combining capital with strategic support and access to talent networks.

Funds connecting Latin America with the world

Valor Capital Group, with operations in Brazil and the United States and around 2.2 billion dollars, serves as a bridge between the two markets. Its portfolio includes Bitso and Coinbase, reflecting its focus on fintech and crypto.

Meanwhile, Endeavor Catalyst manages close to 500 million dollars for emerging markets and backs entrepreneurs with proven traction within the Endeavor network. Its investments include Clip, Nowports, and Conta Azul.

Monashees

With around one billion dollars under management, Monashees is one of the region’s pioneering technology investment firms.

Its track record includes investments in companies such as Rappi, 99, and Loggi, establishing it as a strategic partner from early stages through growth.

Mexico and the rise of new fund managers

In Mexico, Hi Ventures, with close to 300 million dollars, represents a new generation of regional funds. Its portfolio includes Cornershop and Fintual.

In turn, Nazca, together with Bridge, manages around 320 million dollars focused on seed and Series Astages. Its investments include Justo and Minu, making it a key player for Mexican startups.

Capital for strategic sectors and Andean markets

Axon Partners, in partnership with Ventures EPM, manages close to 295 million dollars focused on early stages. Its portfolio includes Klik Energy and Erco Energy, reflecting its focus on energy and infrastructure.

On the other hand, Redpoint eventures, with around 300 million dollars in the region, has invested in Gympass and Pipefy, helping professionalize growing startups.

Patria 

Finally, Patria Investments, an alternatives giant with more than US$50B under management, acquired Igah Ventures in 2022, bringing its pure-play VC assets under management to at least US$320M. The firm has been an important player from the seed stage through Series B. Notable investments include Contabilizei, a digital accounting platform serving thousands of small and medium-sized businesses, and Avenue, a broker that gives Brazilian investors access to the U.S. market. Igah is a firm that specialized in B2B models and fintech, with the ability to generate recurring cash flows.

An increasingly concentrated ecosystem

Together, these ten fund managers form the backbone of startup financing in Latin America. Beyond the capital they manage, their impact is reflected in job creation, innovation, and regional competitiveness.

Where these firms invest, new funding rounds often follow, international talent is drawn in, and growth stories take shape—many of which culminate in IPOs or strategic acquisitions. For founders, understanding how these funds operate and what they look for has become a key part of any growth strategy.