Venture capital deals in Mexico’s burgeoning tech sector have stolen the spotlight among M&A activity in 2021, producing some of this year’s most hyped transactions in the region, and research firm Transactional Track Record (TTR) sees the trend holding strong.
In the third quarter, Mexico saw digital pre-owned car marketplace Kavak grab an additional US$700mn VC injection, brand aggregator Merama pick up US$225mn and online lender Konfio receive US$110mn.
Mexico saw a total of 37 VC deals in the third quarter (+8.82% compared to 3Q20) with combined capital of US$1.7bn (+198% over 3Q20).
“International strategic players continue to have a strong appetite in sectors related to technology, especially e-commerce – in the retail sector – and in fintech, particularly US [buyers] that are increasing their investments in LatAm, in addition to certain leading financial firms,” Marcela Chacón, TTR research and business intelligence analyst for Latin America, told BNamericas.
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