The real estate sector, with so-called proptechs, and the internet, software and IT services sector have been the fundraising standouts in Mexico this year, according to TTR Data.

The Mexican market saw M&A, private equity, venture capital and asset acquisition deals worth a total of US$11.8bn in January-October, according to TTR’s monthly country tracking. 

That was a drop of 19% compared with the same period of 2022.

There were also some 280 fundraising rounds in the first 11 months of the year, which was a 23.9% year-on-year drop. Of the total deals in the period, there were 123 M&As worth US$9.16bn, according to TTR. 

There were 37 transactions in the real estate sector and 36 in the internet, software and IT services sector in the period.

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The rollercoaster of startup funding continues in Latin America. 

In October, in 58 funding rounds, the region's startups secured some US$442mn, down 21% month-on-month and -54% year-on-year, according to a report by SlingHub and Itaú BBA.

Despite the drop, equity rounds are gaining more traction as opposed to debt and receivable funds, according for 93% of the total rounds in October, the report. The month also saw the year's largest equity round, with Brazilian startup QI Tech raising US$200mn in series B funding.

Another highlight was Chile, where startups raised US$$56mn in October, over five times the amount collected in October 2022.

Meanwhile, M&As have cooled, with October seeing the lowest number of transactions so far this year, according to SlingHub/Itaú.

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Brazilian logistics startup Logcomex raised 165mn reais (US$31.8mn) in a funding round led by Riverwood Capital, with participation from Endeavor Catalyst.

Current investors such as Igah Ventures, Alexia Ventures and Caravela Capital also participated in the round, reported Scale-Up Ventures, Logcomex's accelerator and first investor.

The money will be used to expand product offerings for logistics operators and importers, and to launch industry-specific features to serve new customers, including exporters, banks, insurers, automotive and pharmaceutical companies, according to Scale-Up.

Logcomex also has plans to enter new markets in Latin America, it said.

Source: Business News Americas / BN Americas - Chile