Gaming in Latin America: Altered Ventures Reveals Growth Opportunities for Investors
Altered Ventures, the Silicon Valley-based investment fund specializing in gaming, is signaling a major growth trend for independent video games in Mexico and Latin America.
Altered Ventures, the Silicon Valley-based investment fund specializing in gaming, is signaling a major growth trend for independent video games in Mexico and Latin America. The fund, founded in 2016 by gaming veteran Mario Valle Reyes, emphasizes how artificial intelligence (AI) and no-code tools are transforming the indie gaming ecosystem, making it faster, cheaper, and more accessible for small developers.
Mexico Leading Latin America in Indie Game Development
Latin America’s gaming market reached $8.4 billion in 2024, showing strong year-over-year growth, with Mexico expected to contribute over $2.2 billion despite potential 8% sector taxes. The region is home to 270 million gamers, and Mexico, Argentina, and Brazil host more than 70% of the indie studios.
Altered Ventures describes the indie sector as a “laboratory of innovation,” where small teams and even solo developers can compete globally thanks to direct online distribution.
AI and No-Code Tools Lower Barriers for Developers
The fund’s upcoming report, Gaming, AI, and Capital: The Convergence Rewriting the Future, highlights the impact of AI and no-code platforms. By streamlining development and reducing costs, these technologies allow indie studios to deliver high-quality games with smaller teams.
In 2024, nearly 60% of new Steam releases came from independent developers, representing a $5 billion market growing around 20% annually.
Key Events in Mexico This October
Altered Ventures will share its findings at two major gaming events in Mexico:
- Supernova Indie Games Fest – October 4, Mexico City. This festival, organized by Gamers Unite (OCESA), brings together indie developers from Latin America and beyond, featuring the “SUPERNOVA Devs Challenge” digital reality contest.
- Game Conference MX (GCMX) – October 17-18, Guadalajara. GCMX is a leading platform for Spanish-speaking gaming professionals, offering panels, workshops, and networking opportunities focused on development trends, innovation, and business growth.
A Call to Investors and Entrepreneurs
The insights from Altered Ventures underline that indie gaming, combined with AI and digital innovation, is poised to become one of Latin America’s most promising industries.
As Mario Valle Reyes notes, “The indie gaming sector is uniquely positioned for rapid expansion, where creativity, technology, and entrepreneurial talent intersect.”
With AI, no-code tools, and a growing base of talented developers, Latin America’s indie gaming sector is poised for rapid expansion. Altered Ventures’ research underscores Mexico’s leadership in the region and highlights opportunities for investors, entrepreneurs, and developers to capitalize on this booming market.
