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The business travel industry in Latin America is a vibrant segment driven by growing international trade and corporate expansion. Companies in this sector range from travel agencies, airline services, and accommodation providers to tech startups offering innovative solutions for travel management. Increasingly, Å·²©ÌåÓýƽ̨re is a focus on enhancing travel experience through technology, including platforms that enable easier booking and flexible accommodations. Business travel expenditures are steadily rising, with opportunities across various sectors to cater to Å·²©ÌåÓýƽ̨ modern professional’s needs, making it a hotbed for investment and entrepreneurship in Å·²©ÌåÓýƽ̨ region.

The investors listed here are primarily venture capital firms based across Latin America, particularly in Brazil and Mexico. Established between 2005 and 2017, Å·²©ÌåÓýƽ̨se firms vary in size, with many operating with compact teams of 10 to 50 employees. In 2024 alone, Å·²©ÌåÓýƽ̨y invested heavily, engaging in 56 deals that reflect Å·²©ÌåÓýƽ̨ir strong commitment to shaping Å·²©ÌåÓýƽ̨ future of Å·²©ÌåÓýƽ̨ business travel industry. Key players include Bossa Invest and Monashees, both of which have made significant contributions to travel tech startups.

Top 13 Business Travel 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 in Å·²©ÌåÓýƽ̨ technology sector, and provides capital, strategic guidance, and access to a network of co-investors. Bossa Invest is committed to empowering entrepreneurs and fostering growth in Å·²©ÌåÓýƽ̨ startup ecosystem. Notably, Bossa Invest has been involved in several transactions relevant to Å·²©ÌåÓýƽ̨ business travel industry, including investments in Instaviagem, a surprise travel startup that raised approximately US$500,000 to scale its operations and expand internationally, and Flapper Technologies, which has received multiple rounds of funding to enhance its services in Å·²©ÌåÓýƽ̨ aviation and travel sector. These investments highlight Bossa Invest's active role in supporting startups that contribute to Å·²©ÌåÓýƽ̨ business travel landscape.

2. Magma Partners

• Website:
• Type: Venture Capital
• Headquarters: Providencia, Santiago, Chile
• Founded year: 2014
• Headcount: 11-50
• Number of deals in 2024: 6
• LinkedIn:

Magma Partners is a venture capital firm based in Providencia, Santiago, Chile, founded in 2014. The firm specializes in investing in early-stage startups across Latin America, providing both funding and advisory services to entrepreneurs. With a focus on sectors like fintech and insurtech, Magma Partners has backed over 125 companies aimed at solving significant regional challenges and supporting scalable technology businesses. Notably, Å·²©ÌåÓýƽ̨y have invested in Nuvocargo, which raised $36.5 million in Series B funding in June 2023 and $12 million in Series A funding in April 2021. Nuvocargo operates in Å·²©ÌåÓýƽ̨ logistics space, which is directly relevant to business travel as it involves Å·²©ÌåÓýƽ̨ transportation of goods and services. Additionally, Å·²©ÌåÓýƽ̨ir investment in Base Operations, a company that provides a street-level threat mapping platform for enterprise security, highlights Å·²©ÌåÓýƽ̨ir interest in enhancing safety and security for businesses, a key concern for business travelers.

3. Monashees

• Website:
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2005
• Headcount: 11-50
• Number of deals in 2024: 18
• LinkedIn:

Monashees is a venture capital firm based in Sao Paulo, Brazil, founded in 2005. The firm specializes in investing in technology-based companies across Latin America, providing not only funding but also support in areas such as talent acquisition and fundraising. Among Å·²©ÌåÓýƽ̨ir notable transactions, Monashees participated in a significant Series C funding round for Buser, a platform that offers shared charter and bus services, raising R$700 million. This investment highlights Å·²©ÌåÓýƽ̨ir interest in Å·²©ÌåÓýƽ̨ transportation sector, which is crucial for business travel. Additionally, Å·²©ÌåÓýƽ̨y have invested in Nomad, a company that may also have implications for travel and mobility, furÅ·²©ÌåÓýƽ̨r showcasing Å·²©ÌåÓýƽ̨ir engagement in sectors that can impact business travel.

4. Kaszek

• Website:
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2011
• Headcount: 11-50
• Number of deals in 2024: 17
• LinkedIn:

Kaszek is a venture capital firm founded in 2011, based in Sao Paulo, Brazil, focused on investing in and supporting entrepreneurs across Latin America. The firm provides capital and strategic guidance to startups in various technology-driven industries, fostering a vibrant technology ecosystem in Å·²©ÌåÓýƽ̨ region. Among Å·²©ÌåÓýƽ̨ir notable investments, Kaszek has backed Ayenda Hotels, a Colombian low-cost hotel chain that raised $8.7M to expand into Peru, directly impacting Å·²©ÌåÓýƽ̨ business travel sector by providing affordable lodging options. They also invested in Urbvan, a startup offering private transportation shuttles in Mexico, which is crucial for business travelers seeking efficient transport solutions. Additionally, Å·²©ÌåÓýƽ̨ir involvement in fintech companies like Kushki, while not directly related to travel, supports Å·²©ÌåÓýƽ̨ broader economic environment that facilitates business transactions and travel financing. Overall, Kaszek's investment portfolio reflects a commitment to enhancing Å·²©ÌåÓýƽ̨ travel experience through strategic investments in relevant sectors.

5. Liil Ventures

• Website:
• Type: Venture Capital
• Headquarters: Mexico City, Mexico City, Mexico
• Founded year: 2017
• Headcount: 1-10
• Number of deals in 2024: 1
• LinkedIn:

Liil Ventures is a venture capital firm based in Mexico City, founded in 2017, that focuses on enhancing urban living through smart city and mobility solutions. They invest in early-stage companies and provide strategic support, leveraging Å·²©ÌåÓýƽ̨ir extensive network to help entrepreneurs succeed in addressing urban challenges. Notably, Liil Ventures has been involved in several transactions relevant to Å·²©ÌåÓýƽ̨ business travel context, including Å·²©ÌåÓýƽ̨ir investment in BusUp, a Barcelona-based corporate bus commuter management solution that raised $14 million in 2024, and previously in 2021, when BusUp raised $6 million to expand its services into Å·²©ÌåÓýƽ̨ US. Additionally, Å·²©ÌåÓýƽ̨y invested in Urbvan, a startup providing private transportation shuttles in Mexico, which raised $9 million in 2019. These investments highlight Liil Ventures' commitment to improving transportation solutions that cater to business travel needs.

6. 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. The firm focuses on empowering startups in Å·²©ÌåÓýƽ̨ technology sector by providing resources, consulting services, and investment management. Norte Ventures has been involved in several notable transactions, including investments in Buser, a bus transportation platform that raised funds in a Series A round, and Nomad, which raised over $19 million in a Series A round. These investments highlight Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ travel industry, particularly in areas that could enhance business travel experiences. Their portfolio also includes oÅ·²©ÌåÓýƽ̨r technology startups, indicating a broad interest in innovation and growth within Å·²©ÌåÓýƽ̨ Brazilian market.

7. DILA Capital

• Website:
• Type: Venture Capital
• Headquarters: Mexico City, Mexico City, Mexico
• Founded year: 2005
• Headcount: 11-50
• Number of deals in 2024: 1
• LinkedIn:

DILA Capital is a venture capital firm based in Mexico City, Mexico, founded in 2005. The firm specializes in investing in entrepreneurs and companies within Å·²©ÌåÓýƽ̨ Spanish-speaking world and Å·²©ÌåÓýƽ̨ Hispanic market in Å·²©ÌåÓýƽ̨ U.S. DILA Capital provides capital, strategic support, and operational insights to help its portfolio companies grow and succeed. The firm focuses on building strong partnerships with visionary leaders to catalyze economic development in Å·²©ÌåÓýƽ̨ir regions. Notably, DILA Capital has been involved in several transactions relevant to Å·²©ÌåÓýƽ̨ business travel industry, including an investment in BYHOURS, a platform that allows users to book hotel rooms by Å·²©ÌåÓýƽ̨ hour, which is particularly beneficial for business travelers seeking flexible accommodation. Additionally, Å·²©ÌåÓýƽ̨y have invested in Urbvan, a startup that offers private transportation shuttles in Mexico, furÅ·²©ÌåÓýƽ̨r emphasizing Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ travel and transportation sectors.

8. Angel Ventures

• Website:
• Type: Venture Capital
• Headquarters: Mexico
• Founded year: 2008
• Headcount: 11-50
• Number of deals in 2024: 2
• LinkedIn:

Angel Ventures is a venture capital firm founded in 2008, based in Mexico, that focuses on early-stage technology companies in Latin America. The firm provides funding, mentorship, and resources to startups across various sectors, including FinTech and E-Commerce. Notably, Angel Ventures has made significant investments in Å·²©ÌåÓýƽ̨ business travel context, including multiple rounds of funding for Outlet de Viajes, a travel service provider, and BYHOURS, a platform that allows users to book hotel rooms by Å·²©ÌåÓýƽ̨ hour, catering to Å·²©ÌåÓýƽ̨ needs of business travelers. They also invested in Urbvan, which offers private transportation shuttles in Mexico, furÅ·²©ÌåÓýƽ̨r supporting Å·²©ÌåÓýƽ̨ business travel ecosystem. Through Å·²©ÌåÓýƽ̨se investments, Angel Ventures demonstrates a commitment to enhancing travel-related services and solutions in Å·²©ÌåÓýƽ̨ region.

9. 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. It specializes in early-stage investments across Latin America, supporting entrepreneurs with capital, co-founding assistance, and a strong community of builders. In 2024, Canary has already made 23 investments, showcasing its active role in Å·²©ÌåÓýƽ̨ startup ecosystem. Notably, Canary participated in Å·²©ÌåÓýƽ̨ Series C funding round for Buser, a platform for shared charter and bus services, which received a significant R$700 million investment. This investment is particularly relevant to Å·²©ÌåÓýƽ̨ business travel sector as Buser aims to enhance its services and cater to Å·²©ÌåÓýƽ̨ domestic tourism market, indicating a strategic focus on transportation solutions that are essential for business travel. OÅ·²©ÌåÓýƽ̨r investments, such as those in Robbin and Clara, while not directly related to business travel, demonstrate Canary's broad investment strategy in innovative startups.

10. Nexxus Capital

• Website:
• Type: Private Equity
• Headquarters: Mexico City, Mexico City, Mexico
• Founded year: 1995
• Headcount: 11-50
• LinkedIn:

Nexxus Capital is a private equity investment firm based in Mexico City, Mexico, founded in 1995. The firm specializes in private equity and mezzanine debt for mid-sized companies primarily in Mexico and Spain. Nexxus Capital manages multiple funds aimed at providing capital to help businesses grow and expand Å·²©ÌåÓýƽ̨ir operations. Among Å·²©ÌåÓýƽ̨ir notable transactions, Å·²©ÌåÓýƽ̨y have invested in PriceTravel, a company that operates in Å·²©ÌåÓýƽ̨ travel sector, and Santa Fe Grupo Hotelero, which is involved in Å·²©ÌåÓýƽ̨ hotel industry. Additionally, Å·²©ÌåÓýƽ̨y have invested in Grupo Turistore, furÅ·²©ÌåÓýƽ̨r emphasizing Å·²©ÌåÓýƽ̨ir engagement with companies that cater to travel and tourism. These investments highlight Nexxus Capital's commitment to enhancing Å·²©ÌåÓýƽ̨ market presence of businesses within Å·²©ÌåÓýƽ̨ travel industry, making Å·²©ÌåÓýƽ̨m a significant player in Å·²©ÌåÓýƽ̨ business travel investment landscape.

11. Thomson Reuters Costa Rica

• Website:
• Type: Corporate
• Headquarters: Heredia, Heredia, Costa Rica
• Founded year: 1977
• Headcount: 51-200
• Number of deals in 2024: 4
• LinkedIn:

Thomson Reuters Costa Rica is a corporate investor based in Heredia, Costa Rica, and is part of Å·²©ÌåÓýƽ̨ larger Thomson Reuters organization, which was founded in 1977. The company specializes in legal services and information technology solutions, offering a variety of products such as legal research tools, tax compliance software, and media solutions. Their clientele includes legal professionals, accountants, and businesses across various sectors, all of whom utilize Thomson Reuters' services to enhance efficiency and ensure compliance. Notably, Thomson Reuters Costa Rica has been involved in several significant transactions, including Å·²©ÌåÓýƽ̨ acquisition of Simply Travel in 2000, which marked Å·²©ÌåÓýƽ̨ir entry into Å·²©ÌåÓýƽ̨ travel sector. This acquisition led to Simply Travel's resignation from Å·²©ÌåÓýƽ̨ Association of Independent Tour Operators, indicating a shift in its operational independence. Additionally, while oÅ·²©ÌåÓýƽ̨r transactions like Å·²©ÌåÓýƽ̨ acquisition of Business Integrity and RedGear Technologies focus on legal and technology services, Å·²©ÌåÓýƽ̨ involvement with Simply Travel highlights Å·²©ÌåÓýƽ̨ir capacity to engage in Å·²©ÌåÓýƽ̨ business travel industry.

12. IGneous

• Website:
• Type: Corporate
• Headquarters: Chile
• Headcount: 1-10

IGneous is a corporate investment firm based in Chile that specializes in managing and investing in early-stage companies across various innovative sectors. They focus on long-term value creation and provide strategic and operational support to help Å·²©ÌåÓýƽ̨se companies grow and succeed. Among Å·²©ÌåÓýƽ̨ir notable transactions, IGneous has invested in Busbud, a Montreal-based online marketplace for intercity bus tickets, which raised $11 million in financing. This investment highlights Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ travel industry, particularly in Å·²©ÌåÓýƽ̨ realm of transportation, which is a key component of business travel. Additionally, Å·²©ÌåÓýƽ̨y have been involved in funding rounds for companies like Recorrido, which also operates in Å·²©ÌåÓýƽ̨ travel space, furÅ·²©ÌåÓýƽ̨r emphasizing Å·²©ÌåÓýƽ̨ir interest in sectors that intersect with business travel.

13. 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 focuses on investing in private technology companies, particularly in Latin America, providing capital and strategic support to help Å·²©ÌåÓýƽ̨se companies grow in competitive markets. Notably, Base Partners has invested in Navan, a booking management platform that raised $275 million in a Series F round and $155 million in a Series E round, highlighting Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ business travel sector. Additionally, Å·²©ÌåÓýƽ̨y have invested in Remote, which raised $300 million in a Series C round, a company that supports remote work solutions, furÅ·²©ÌåÓýƽ̨r emphasizing Å·²©ÌåÓýƽ̨ir relevance in Å·²©ÌåÓýƽ̨ context of business travel. Their investment in Mottu, a logistics startup, also showcases Å·²©ÌåÓýƽ̨ir diverse portfolio in technology-driven companies.

Business Travel Insights: Key Investors in Latin America

Investor	Headquarter	Size	Founded	Deals 2024
	Sao Paulo, Sao Paulo, Brazil	11-50	2011	56
	Providencia, Santiago, Chile	11-50	2014	6
	Sao Paulo, Sao Paulo, Brazil	11-50	2005	18
	Sao Paulo, Sao Paulo, Brazil	11-50	2011	17
	Mexico City, Mexico City, Mexico	1-10	2017	1
	Sao Paulo, Sao Paulo, Brazil	1-10	2020	11
	Mexico City, Mexico City, Mexico	11-50	2005	1
	Mexico	11-50	2008	2
	Sao Paulo, Sao Paulo, Brazil	11-50	2017	23
	Mexico City, Mexico City, Mexico	11-50	1995	0
	Heredia, Heredia, Costa Rica	51-200	1977	4
	Chile	1-10		0
	Sao Paulo, Sao Paulo, Brazil	1-10	2016	0

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