Venture capital, angels and private equity in Guatemala

Invariantes (Guatemala City, founded in 2015) is the only institutional VC firm based in the country: its third fund, of US$30 million (2023), follows a hybrid model of 50% emerging VC funds / 50% early-stage startups in the United States and Latin America (software, fintech, AI), with a cited portfolio of Luminar, Lambda Labs, Glovo and Kubo Financiero — it invests mostly outside Guatemala, so it is not a channel for traditional local projects. There is no consolidated formal angel network; the Central America Angel Fund Initiative (CAFI, tickets of US$5,000-150,000) and PRONACOM efforts are cited. The large deals are done by strategic buyers and DFIs (Bancolombia→BAM; IFC/IDB Invest): no private equity fund based in Guatemala was found, and 'Kamaycu', mentioned as a possible local fund, has no verifiable results. Equity is raised privately and through relationships.

The research is written in English; quoted figures, source names and the titles of legal instruments stay in the language their source published them in.