In 2022, venture funding in Latin America took a significant hit, as venture volume sank almost 60% from the previous year in the wake of a sharp shift in the startup funding climate.

Per Crunchbase data, investor funding sat at $8.28 billion in the region in 2022, down 58% from 2021, a record-setting year with $19.5 billion in total funding.

However, while 2022 was below the peak, it was still the second-highest funding year of the past decade, as shown in the chart below.