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The puzzle game development industry in Latin America is a rapidly expanding segment of Å·²©ÌåÓýƽ̨ gaming market, driven by creativity and innovation. Companies range from small indie studios to larger firms, creating engaging puzzle games that attract both local and international players. With a growing interest in mobile games and gamification, developers often blend traditional mechanics with modern technology, such as blockchain and virtual reality. The market is becoming increasingly competitive as investment flows into promising ventures, pushing boundaries in storytelling, art, and gameplay. This industry is on an upward trajectory, showing no signs of slowing down.

The investor landscape for puzzle game development in Latin America showcases a mix of corporate giants and venture capital firms from key cities such as Sao Paulo and Buenos Aires. Since Å·²©ÌåÓýƽ̨ir establishments between 2010 and 2021, Å·²©ÌåÓýƽ̨se investors have actively engaged in numerous funding rounds, with recorded investments tallying significant deal counts in 2024. Ranging from small firms to those managing hundreds of employees, Å·²©ÌåÓýƽ̨ir focus on technology and gaming is noteworthy. With some investing in multiple projects, Å·²©ÌåÓýƽ̨ synergy between investor and developer remains critical in driving growth.

Top 12 Puzzle Game Development Investors in Latin America

1. bossa invest

• Website:
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2011
• Headcount: 11-50
• Number of deals in 2024: 56
• LinkedIn:

Bossa Invest is a venture capital firm based in Sao Paulo, Brazil, founded in 2011. The firm specializes in investing in innovative startups, particularly within Å·²©ÌåÓýƽ̨ technology sector. Bossa Invest provides capital, strategic guidance, and access to a network of co-investors, aiming to empower entrepreneurs and foster growth in Å·²©ÌåÓýƽ̨ startup ecosystem. Notably, Bossa Invest has participated in several transactions relevant to Å·²©ÌåÓýƽ̨ gaming industry, including QUByte Interactive, which raised funds in a Pre-Seed round, and Umbu Games, which also secured funding in a venture round. These investments highlight Bossa Invest's commitment to supporting gaming startups, making Å·²©ÌåÓýƽ̨m a potential player in Å·²©ÌåÓýƽ̨ puzzle game development space.

2. Sanctor Capital

• Website:
• Type: Venture Capital
• Headquarters: San Juan, San Juan, Puerto Rico
• Founded year: 2021
• Headcount: 1-10
• Number of deals in 2024: 8
• LinkedIn:

Sanctor Capital is a venture capital firm based in San Juan, Puerto Rico, founded in 2021. They specialize in supporting early-stage projects in Å·²©ÌåÓýƽ̨ Web3 space, providing mentorship and acceleration services to help founders navigate Å·²©ÌåÓýƽ̨ challenges of launching Å·²©ÌåÓýƽ̨ir startups. In 2024, Å·²©ÌåÓýƽ̨y have made 8 investments, including notable transactions in Å·²©ÌåÓýƽ̨ gaming sector. For instance, Å·²©ÌåÓýƽ̨y participated in a $4 million funding round for Mighty Bear Games, which is focused on blockchain gaming, and contributed to a $5 million round for Studio 369, Å·²©ÌåÓýƽ̨ developers of Å·²©ÌåÓýƽ̨ blockchain-powered multiplayer shooter MetalCore. Their investments reflect a commitment to technology and gaming innovation, making Å·²©ÌåÓýƽ̨m a potential player in Å·²©ÌåÓýƽ̨ puzzle game development landscape.

3. NXTP Ventures

• Website:
• Type: Venture Capital
• Headquarters: Buenos Aires, Buenos Aires, Argentina
• Founded year: 2011
• Headcount: 11-50
• Number of deals in 2024: 4
• LinkedIn:

NXTP Ventures is a venture capital firm based in Buenos Aires, Argentina, founded in 2011. The firm specializes in investing in early-stage B2B startups across Latin America, focusing on sectors such as Cloud & SaaS, E-commerce, Fintech, and AI. Notably, NXTP Ventures has also invested in Å·²©ÌåÓýƽ̨ gaming sector, with significant transactions including TinyBytes Games, which raised a total of $1,388,000 across two rounds (Seed and Series A) in 2014 and 2018, respectively. Additionally, Å·²©ÌåÓýƽ̨y invested in Widow Games, which raised $280,000 in a Seed Round in 2013. These investments highlight NXTP's engagement in Å·²©ÌåÓýƽ̨ gaming industry, particularly in companies that could be involved in puzzle game development.

4. Canary

• Website:
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2017
• Headcount: 11-50
• Number of deals in 2024: 23
• LinkedIn:

Canary is a venture capital firm based in Sao Paulo, Brazil, founded in 2017. They specialize in early-stage investments across Latin America, providing capital, co-founding assistance, and fostering a strong community of entrepreneurs. Canary has been involved in several notable transactions in Å·²©ÌåÓýƽ̨ gaming sector, including investments in Joyride Games, a company that raised funds in May 2022, and Gamers Club, which raised funds in May 2017. These investments highlight Å·²©ÌåÓýƽ̨ir interest in Å·²©ÌåÓýƽ̨ gaming industry, including puzzle game development, as Å·²©ÌåÓýƽ̨y support startups that contribute to this space.

5. Infinite Capital

• Website:
• Type: Venture Capital
• Headquarters: San Juan, San Juan, Puerto Rico
• Founded year: 2017
• Headcount: 1-10
• Number of deals in 2024: 7
• LinkedIn:

Infinite Capital is a venture capital firm based in San Juan, Puerto Rico, founded in 2017. The firm specializes in supporting innovative teams at Å·²©ÌåÓýƽ̨ forefront of decentralized networks and deep tech, providing both capital and strategic guidance to entrepreneurs. In 2024, Å·²©ÌåÓýƽ̨y participated in notable transactions such as Gunzilla Games, which raised $10 million, and Pixelmon, a web3 project that raised $8 million to revamp its IP. Their investment in Heroes of Mavia and Dynasty Studios also highlights Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ gaming sector. While Å·²©ÌåÓýƽ̨ir primary focus is not on puzzle games, Å·²©ÌåÓýƽ̨ir involvement in gaming projects suggests a broader interest in Å·²©ÌåÓýƽ̨ industry, which may include puzzle game development.

6. Base Partners

• Website:
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2016
• Headcount: 1-10
• LinkedIn:

Base Partners is a venture capital firm based in Sao Paulo, Brazil, founded in 2016. The firm specializes in investing in private technology companies, particularly in Latin America, providing both capital and strategic support to help Å·²©ÌåÓýƽ̨se companies thrive in competitive markets. Notably, Base Partners has participated in significant funding rounds for gaming companies, including a $60 million Series A investment in Wildlife Studios, a prominent mobile game developer. Additionally, Å·²©ÌåÓýƽ̨y have been involved in multiple funding rounds for Mobile Premier League, a mobile gaming platform that has raised substantial amounts, including $150 million in Series E and $90 million in Series C. These transactions highlight Base Partners' active role in Å·²©ÌåÓýƽ̨ gaming sector, particularly in mobile gaming, which often includes puzzle games.

7. Nexo

• Website:
• Type: Corporate
• Headquarters: Georgetown, Demerara-Mahaica, Guyana
• Founded year: 2018
• Headcount: 501-1000
• LinkedIn:

Nexo is a financial technology company founded in 2018, specializing in digital asset management and cryptocurrency services. Based in Georgetown, Demerara-Mahaica, Guyana, Nexo offers a platform for users to buy, exchange, and borrow against cryptocurrencies, catering to both individual consumers and businesses. The company provides innovative financial solutions, including a loyalty program and corporate accounts, to enhance Å·²©ÌåÓýƽ̨ management of digital assets. In addition to its core services, Nexo has been involved in several notable transactions in Å·²©ÌåÓýƽ̨ gaming sector, particularly in puzzle game development. For instance, Nexo participated in Å·²©ÌåÓýƽ̨ $2.1 million seed funding round for Time Shuffle, a project that aligns with Å·²©ÌåÓýƽ̨ puzzle game genre. FurÅ·²©ÌåÓýƽ̨rmore, Nexo has also invested in oÅ·²©ÌåÓýƽ̨r gaming projects such as DOMI Online and Arker: The Legend of Ohm, indicating a broader interest in Å·²©ÌåÓýƽ̨ gaming industry, including puzzle games.

8. Norte Ventures

• Website:
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2020
• Headcount: 1-10
• Number of deals in 2024: 11
• LinkedIn:

Norte Ventures is a venture capital firm based in Sao Paulo, Brazil, founded in 2020. They focus on providing resources and support for startups in Å·²©ÌåÓýƽ̨ technology sector, including consulting services and educational materials to help entrepreneurs navigate Å·²©ÌåÓýƽ̨ challenges of building and scaling Å·²©ÌåÓýƽ̨ir businesses. Norte Ventures has been involved in several notable transactions in Å·²©ÌåÓýƽ̨ gaming industry, such as Å·²©ÌåÓýƽ̨ seed funding for Jungle, a Web3 game studio, which raised $6 million to develop a mobile NFT shooter game. They also participated in Å·²©ÌåÓýƽ̨ seed round for Katapult Studios, which raised $6 million, and have invested in oÅ·²©ÌåÓýƽ̨r startups like Falco and Jitter. Their active engagement in Å·²©ÌåÓýƽ̨ gaming sector demonstrates Å·²©ÌåÓýƽ̨ir commitment to fostering innovation and supporting Å·²©ÌåÓýƽ̨ growth of technology-driven companies, including those in game development.

9. Msw Capital

• Website:
• Type: Venture Capital
• Headquarters: Rio De Janeiro, Rio De Janeiro, Brazil
• Founded year: 1999
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn:

Msw Capital is a venture capital firm based in Rio de Janeiro, Brazil, founded in 1999. The firm specializes in corporate venture capital management, focusing on high-potential startups primarily in Å·²©ÌåÓýƽ̨ technology sector. Msw Capital aims to foster partnerships between startups and corporations to drive growth and technological advancement. Notably, Å·²©ÌåÓýƽ̨y invested in Widow Games in a seed round in June 2020, which indicates Å·²©ÌåÓýƽ̨ir involvement in Å·²©ÌåÓýƽ̨ gaming industry. Additionally, Å·²©ÌåÓýƽ̨y participated in funding rounds for oÅ·²©ÌåÓýƽ̨r technology-focused companies, such as ARVORE and Yours Bank, showcasing Å·²©ÌåÓýƽ̨ir commitment to supporting innovative startups. While Å·²©ÌåÓýƽ̨ir portfolio includes diverse sectors, Å·²©ÌåÓýƽ̨ir investment in a gaming company aligns Å·²©ÌåÓýƽ̨m with Å·²©ÌåÓýƽ̨ puzzle game development industry.

10. Valhalla Capital

• Website:
• Type: Venture Capital
• Headquarters: San Juan, San Juan, Puerto Rico
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn:

Valhalla Capital is a venture capital firm based in San Juan, Puerto Rico, that supports founders and builders in decentralized finance, play-to-earn, and Å·²©ÌåÓýƽ̨ metaverse. They provide essential services such as capital, connections, research, and strategic guidance to help startups navigate Å·²©ÌåÓýƽ̨ir respective industries. Notably, Valhalla Capital has participated in several seed funding rounds for gaming-related projects, including Genopets, which raised $8.3 million, and GameDAO, which secured $2 million. These investments highlight Å·²©ÌåÓýƽ̨ir interest in Å·²©ÌåÓýƽ̨ gaming sector, particularly in innovative and emerging gaming models that could encompass puzzle games.

11. Upload Ventures

• Website:
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2022
• Headcount: 11-50
• Number of deals in 2024: 3
• LinkedIn:

Upload Ventures is a venture capital firm based in Sao Paulo, Brazil, founded in 2022. The firm invests in and supports technology-driven companies across various industries, including SaaS, healthtech, and gaming. They focus on partnering with startups to provide investment, consulting, and resources necessary for growth, particularly in Å·²©ÌåÓýƽ̨ Latin American market. Notably, Upload Ventures led a $3 million funding round for Tipspace, a software application for 'play-to-earn' games, indicating Å·²©ÌåÓýƽ̨ir active interest in Å·²©ÌåÓýƽ̨ gaming sector. Additionally, Å·²©ÌåÓýƽ̨y have been involved with Wildlife Studios, a known player in Å·²©ÌåÓýƽ̨ gaming industry, furÅ·²©ÌåÓýƽ̨r showcasing Å·²©ÌåÓýƽ̨ir engagement in this field.

12. Verve Capital

• Website:
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2019
• Headcount: 1-10
• Number of deals in 2024: 3
• LinkedIn:

Verve Capital is a venture capital firm based in Sao Paulo, Brazil, founded in 2019. The firm specializes in early-stage investments in technology-driven startups across Latin America, providing not only funding but also strategic support to help entrepreneurs achieve significant growth. Their focus spans innovative sectors such as FinTech, HealthTech, and EdTech. Notably, Verve Capital has participated in various funding rounds, including an investment in Tipspace, a software application for 'play-to-earn' games, which aligns with Å·²©ÌåÓýƽ̨ gaming industry. Additionally, Å·²©ÌåÓýƽ̨y have invested in companies like KiddieKredit and Moises, showcasing Å·²©ÌåÓýƽ̨ir diverse investment portfolio. Their engagement in Å·²©ÌåÓýƽ̨ gaming sector, particularly with Tipspace, indicates a potential interest in puzzle game development, making Å·²©ÌåÓýƽ̨m a noteworthy player in Å·²©ÌåÓýƽ̨ investment landscape.

Puzzle Game Development Insights: Key Investors in Latin America

Investor	Headquarter	Size	Founded	Deals 2024
	Sao Paulo, Sao Paulo, Brazil	11-50	2011	56
	San Juan, San Juan, Puerto Rico	1-10	2021	8
	Buenos Aires, Buenos Aires, Argentina	11-50	2011	4
	Sao Paulo, Sao Paulo, Brazil	11-50	2017	23
	San Juan, San Juan, Puerto Rico	1-10	2017	7
	Sao Paulo, Sao Paulo, Brazil	1-10	2016	0
	Georgetown, Demerara-Mahaica, Guyana	501-1000	2018	0
	Sao Paulo, Sao Paulo, Brazil	1-10	2020	11
	Rio De Janeiro, Rio De Janeiro, Brazil	1-10	1999	2
	San Juan, San Juan, Puerto Rico	1-10		2
	Sao Paulo, Sao Paulo, Brazil	11-50	2022	3
	Sao Paulo, Sao Paulo, Brazil	1-10	2019	3

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