Venture Capital in Chile 2025: Why the Country Leads Latin America in VC Efficiency
Venture Capital Chile reached US$249M in 2025, growing 57% year over year and ranking as Latin America’s most efficient startup ecosystem according to Cuantico VP.
Venture Capital in Chile is gaining increasing attention across Latin America as startups backed by venture capital begin to shape industries through technologies such as artificial intelligence, payment automation, and workforce management platforms. Companies raising funding today often become the partners, suppliers, or competitors of established organizations within a few years.
Chile’s venture capital ecosystem reaches a new milestone
In 2025, Chile attracted US$249 million in venture capital across 53 deals, representing 57% growth compared to the US$159 million invested in 2024. According to the VC Efficiency Index (VEI) published by Cuantico VP in the Latin America Venture Capital Report 2026, Chile ranked as the most efficient venture capital ecosystem in Latin America with a score of 40.2, ahead of Uruguay (39.1) and Brazil (38.2).
The index evaluates venture ecosystems using three metrics: venture capital as a percentage of GDP (intensity), investment per capita (density), and number of deals per million inhabitants (breadth). Chile scored above 38 points in all three categories, making it the only country in the region with such balanced performance.
Venture capital trends across Latin America
Across the region, venture capital reached US$4.126 billion in 681 rounds in 2025, up 14% from US$3.627 billion in 2024, although the number of deals declined slightly from 694 to 681. As a result, the average ticket size increased from US$5.2 million to US$6.1 million.
“The recovery of 2025 is selective rather than generalized,” said Jose Kont, Executive Director of Cuantico VP, noting that investors are prioritizing startups with proven business models and regional scalability.
The venture capital cycle in Latin America peaked in 2021 with US$17.38 billion invested, followed by a correction between 2022 and 2024 that reduced funding significantly. The increase recorded in 2025 marks the first year of sustained recovery since that downturn.
| Año | Inversión US$M | # Rondas | Ticket Prom. US$M |
| 2017 | 1,573 | 777 | 2.0 |
| 2018 | 2,835 | 945 | 3.0 |
| 2019 | 4,933 | 1,090 | 4.5 |
| 2020 | 4,903 | 1,166 | 4.2 |
| 2021 | 17,381 | 1,801 | 9.7 |
| 2022 | 8,312 | 1,634 | 5.1 |
| 2023 | 3,618 | 1,051 | 3.4 |
| 2024 | 3,627 | 694 | 5.2 |
| 2025 | 4,126 | 681 | 6.1 |
The startups driving Chile’s ecosystem
Several Chilean startups raised notable rounds during 2025, particularly in fintech, SaaS, and HR technology.
Among the most prominent deals were:
- Toku — US$48M (Series A Extension) backed by Oak HC/FT, Gradient (Google), F-Prime and Y Combinator
- AgendaPro — US$35M (Growth round) backed by Riverwood Capital and Kayyak Ventures
- Vambe — US$14M (Series A) backed by Monashees, Cathay Pacific and Nazca
- Rankmi — US$11M (Series A+) backed by Kayyak Ventures
- diio — US$2.5M (Seed) backed by Base10 Partners and Fen Ventures
- Creditú — US$2.5M (Seed) backed by ALIVE Ventures
These companies operate across several Latin American markets, reflecting a growing trend of early regional expansion among Chilean startups.
Infrastructure supporting the ecosystem
Chile’s venture capital ecosystem is supported by public policy, private capital, and startup infrastructure.
The public development agency CORFO has played a central role by providing US$1.069 billion in credit lines to venture capital funds since 1998, which has helped generate US$878 million in direct startup investment. Meanwhile, Start-Up Chile, launched in 2010, has accelerated more than 3,000 startups from over 80 countries.
The ecosystem also includes 66 venture capital funds, which have participated in nearly 1,940 investment rounds across more than 580 companies, according to Tracxn.
Key sectors and outlook for 2026
Chile has developed strengths in sectors such as Fintech, FoodTech, SaaS, HR Tech, AgTech, and renewable energy technologies. Companies like NotCo, Toku, AgendaPro, and Rankmi illustrate the diversity of innovation emerging from the ecosystem.
Looking ahead to 2026, several trends are expected to shape the next phase of growth. Artificial intelligence is becoming central to startup products, as seen in companies like Vambe and diio, while regulatory discussions may open the door for institutional investors such as pension funds to participate in venture capital.
At the same time, initiatives such as ScaleX, created by the Santiago Stock Exchange and CORFO, aim to expand exit opportunities and access to capital markets for startups.
Together, these developments position Venture Capital Chile as one of the most dynamic innovation ecosystems in Latin America, combining strong institutional support with a growing pipeline of globally oriented startups.
