Venture capital fuels Latin American unicorns expansion

SAO PAULO: Surging venture capital investment in Latin American startups has financed international expansion across the region and beyond, as business models that do not require large amounts of capital have helped many firms avoid silos common in the region.

New venture capital funding in the region quadrupled over two years to a record US$2bil in 2018, according to the Association for Private Capital Investment in Latin America. And that total has already been matched in the first seven months of 2019.