Internet penetration in Latin America has surpassed that of China and India and is approaching that of developed economies

US e-commerce penetration reverted to pre-pandemic levels while Brazil stayed nearly three years ahead of trend

Following the shift to remote work, software developers are no longer open to working in-office

LatAm saw venture funding drop by more than half compared to the peak in 2021, but current levels remain higher than historic trends

Foreign investors, while remaining active in the region, are slowing down. Local funds are making up the difference

Founders at every stage recognize the market downturn but remain optimistic about the future of their own companies

Companies have responded to the current state by modestly adjusting headcount and slightly extending runway

Historically, companies that raised capital in down markets IPO at higher rates

…It’s just not evenly distributed. Latin America has enormous growth potential when it comes to tech value creation