According to the LAVCA Trends in Tech 2022 report, Venture Capital Investments in Blockchain/Crypto Reached $653 Million in 2021 up from $68m in 2020 alongside growing consumer interest in digital assets and decentralized finance (DeFi).
Furthermore, the report revealed that capital was concentrated in asset exchanges and consumer-facing retail trading platforms.
Some notable rounds were observed for the following organizations:
- Bitcoin market ($290 million over three rounds)
- bitso ($250 million)
- Ripio ($50 million)
- lemon money ($17.3 million)
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SEE ALSO: Crypto startups raised as much in January 2022 as all startups in Africa in 2021
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Beyond consumer-facing Web 3 apps, the report found that investors began supporting B2B platforms in Q1 2022, including:
- Liqi ($5.5 million)
- Gavea market ($5 million) and
- Agrotoken ($5 million)
Similar to Africa, the fintech sector in Latin America was the top tech sector for venture capital investments, seeing $6.1 billion invested in 258 deals, almost four times compared to 2020.
Overall, Latin America has seen an expansion (tripling) of venture capital investments in technology. In 2020, LAVCA recorded $4.14 billion in venture capital investments amid the coronavirus pandemic. In 2021, this figure would have reached $15.7 billion. In the process, 16 technology-driven companies achieved unicorn valuation.
Sixteen startups surpassed $1B+ in disclosed valuation in 2021: Bitso, Cargo X, Clara, Clip, CloudWalk, Easy, Konfio, olist, MadeiraMadeira, Merama, Bitcoin market, WALL, NotCo, Tiendanube/Nuvemshop, Uala and unique.
Notably, four Mexico-based startups surpassed $1 billion in disclosed valuation in 2021 after kavak in 2020 as well as bitso, Clara, music video and Konfio.
– LAVCA report
Similar to Africa, Latin America is home to many of the world’s emerging economies, with countries such as Brazil, Mexico, El Salvador, and Argentina all being prominent players in the emerging crypto landscape.
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RECOMMENDED READING: 17 of the Top 20 Markets for Global Crypto Adoption Are in Emerging Markets – Kenya Leads in Africa – According to Latest Analytics Chain Index 2021
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