BOGOTÁ, Colombia, April 18, 2024 /PRNewswire/ — In celebration of Miami Tech Month, the city of Miami is hosting a variety of events, welcoming venture capitalists, entrepreneurs, and technology innovators from around the globe. During this week, the city hosted Startup OLÉ, one of Europe’s largest tech-startup ecosystem events; VC Latam Summit, which brings together key investors and venture capital firms from Latin America; and eMerge Americas, a major annual two-day tech conference that gathers more than 20,000 attendees.
Since the pandemic, numerous US investors have relocated to Miami, transforming it into a crucial hub linking Latin American and US investors. This fosters exploration of growth opportunities in startups and innovative companies, capitalizing on Miami’s skilled bilingual workforce and innovative culture.
The capital of Colombia is an epicenter of entrepreneurship
The capital of Colombia is emerging as a leading destination for venture capital investment. The city ranks third in venture investment activity in Latin America, preceded only by Sao Paulo and Mexico City. Its entrepreneurial ecosystem is constantly evolving and is recognized as the third Emerging Tech Ecosystem by Dealroom and the third most prominent entrepreneurial ecosystem in Latin America according to StartupBlink.
In Colombia, over 1,300 startups are rapidly growing, driven by increased internet and technology access and support from leading accelerators like Techstars and Y Combinator, interest from global investment funds, and a growing entrepreneurial culture.
“Colombia shines with resilient entrepreneurs and increasing venture capital investments, establishing itself as a highly competitive regional entrepreneurship ecosystem. In 2023, Colombian entrepreneurs raised approximately USD 647 million through various mechanisms such as venture capital funds, angel investors, accelerators, family offices, and corporations,” noted Isabella Muñoz, Executive Director of Invest in Bogota.” The Corporation plays a pivotal role in promoting the city during this significant week for startups in Miami.
The city leads the venture capital ecosystem in Colombia. It is home to the highest number of financing rounds (88 rounds) and capital raised in the country, accounting for 75% of the national total—USD 486 million, according to the latest report by Invest in Bogota for 2023.
US venture capital funds have considerable experience investing in Colombian startups, particularly those based in Bogota. In 2019, Softbank made history with a USD 1 billion investment in Rappi, the largest single investment in a Latin American tech startup. Other notable investors include Tiger Global Management, Quona Capital, and 8VC, among others.
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SOURCE Invest in Bogota
