Fifth Annual WIND Ventures Survey Reveals AI and Energy Storage as Top Investment Priorities in Latin America

2024 WIND Ventures Survey Highlights Key Growth Markets and Sectors for Startup Expansion

SAN FRANCISCO, April 7, 2025 /PRNewswire/ -- Copec WIND Ventures, Copec's strategic venture capital arm, today released the results of its fifth annual Growth Markets Survey. The survey gathers insights from venture capitalists (VCs) on global growth markets outside of North America and Western Europe and examines yearly shifts in investment perceptions.

This year's survey, which gathered insights from a diverse group of venture capitalists (VCs), underscores the growing role of AI-driven energy solutions, fintech and the continuation of Latin America as a preferred expansion market.

Key Findings:

• Interest in China as a growth market rebounds, with Latin America following closely behind. After a period of decreased interest, China has rebounded as the top market for startup expansion according to VCs, with 24% of respondents choosing it as the most compelling. Latin America follows closely behind at 21%.
• VCs' definition of "good expansion markets" has remained consistent over the past five years. Market size and a high rate of tech adoption remain the top two factors that VCs prioritize when evaluating new regions for startup expansion. These attributes continue to define where capital flows globally.
• Political risk in Latin America is easing. For startups expanding to Latin America, political instability has historically been perceived as a key challenge. This year's survey shows that VCs have become more comfortable with this risk and are increasingly optimistic about the region's improved political climate and business environment.
• AI leads the sector growth in Latin America. Latin America is rapidly emerging as a global hub for artificial intelligence, with fintech and energy-tech following closely behind.
• Energy storage for intermittent renewables is a top use case for Generative AI.
  VCs identified energy storage as one of the most promising applications for generative AI, expected to drive further investment in the energy sector. Latin America's abundant renewable resources and increasing demand for grid resilience make it a natural fit for the growth of AI-powered energy solutions.
• Global VC investment is poised for growth in 2025. Despite economic headwinds in some regions, VCs remain bullish on the pace of global venture capital investment this year. A significant proportion of VCs surveyed anticipate an acceleration of funding driven by opportunities in AI, energy, and climate-tech innovations.

"The intersection of generative AI and energy tech is opening up new frontiers for venture capital in Latin America," said Brian Walsh, Head of WIND Ventures. "The region's vast renewable resources and increasing demand for innovative energy solutions provide a fertile ground for startups looking to disrupt traditional energy markets. Regarding China's rebound, it will be interesting to explore the reality of US and EU startups expanding well into China (vs perception) in next year's survey."

The full findings are available here. 

WIND Ventures is committed to accelerating leading global startup growth in Latin America by providing 'unfair access' to the region through Copec's WIND platform.

Survey Methodology:

In the Fall of 2024, WIND Ventures surveyed 35 venture capitalists across various investment stages. The majority (63%) were early-stage investors, with 17% seed-stage and 20% growth investors.

About Copec WIND Ventures

Based in San Francisco, Copec WIND Ventures is the corporate venture capital (CVC) arm of Copec, one of the leading energy, mobility, and retail companies in Central and South America and one of the most valued brands throughout Latin America. WIND Ventures leverages Copec's significant resources to accelerate growth, primarily within Latin America, for startups and scaleups across the world within the new mobility, energy, and retail sectors. Visit windventures.vc or follow us on Linkedin and Twitter.

Media Contact:
Mary Magnani
windventures@codepr.com

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SOURCE Copec WIND Ventures