This panel brings together senior corporate venture and strategy leaders: Gabriela Hernandez, head of strategy and corporate development at Mercado Libre; Thamara Prado, head of strategy and corporate investment at Natura Latam, alongside ecosystem builder Laura Chicurel, founder and director of Innova360, to argue that Latin America is entering a “gold rush” phase for corporate venture capital.

Key takeaways

  • Latin America remains under-prioritised by global investors relative to the US, Europe and Asia, despite hosting large-scale, globally competitive corporates and significant untapped opportunity. 
  • The region’s structural gaps—particularly in payments, logistics and financial infrastructure—create opportunities for companies and startups to build foundational “rails”, rather than incremental solutions.
     
  • Mercado Libre exemplifies this model, having expanded from marketplace into fintech and logistics due to lack of existing infrastructure, highlighting the scale of opportunity for ecosystem-building investments. 
  • CVC plays a critical role in LATAM because startups often require corporate partnerships to scale, given weaker standalone infrastructure compared with more mature markets. 
  • The region is experiencing a maturation of its venture ecosystem, reflected in a recent increase in CVC formation and larger funds, following earlier experimentation phases. 
  • This shift is driven partly by corporates recognising external disruption (e.g. fintech eroding incumbent market share) and the need for “eyes outside” to track innovation.
     
  • LATAM startups are characterised by capital scarcity, forcing early discipline in unit economics, profitability and resilience—traits now embedded in a more experienced founder base. 
  • Market fundamentals are compelling: a population of over 670 million and significant underpenetration in sectors such as e-commerce and fintech, with strong projected growth. 
  • Strategic alignment is central to successful CVC in the region, with investments focused on strengthening core corporate ecosystems and requiring strong internal buy-in. 
  • Entrepreneurs are seen as a key asset—resilient, resource-efficient and focused on solving real local problems, often with potential for globalisation. 
  • Additional opportunity lies in impact-driven innovation, particularly in social and environmental challenges, where unmet needs are significant. 
  • Overall, LATAM offers a differentiated proposition: stronger corporate–startup interdependence, maturing ecosystems, and “hidden gem” innovations that can scale globally with the right partners. 

This is an AI-generated summary, which has been lightly edited by GCV staff.