Chinese investors looking to Latin America for tech

Chinese investment in Latin America grew from US$30M to US$1B between 2015 and 2017. Bloomberg reports that more and more Chinese investors are looking to Latin America for their next expansions, following in the footsteps of Chinese government infrastructure projects in the region.

Noticias Águila, founded by Chinese entrepreneur Tang Xin, has become Mexico’s largest news app, with over 20 million users. Its entire development team is still located in Shenzhen, a tech hub near Hong Kong. Tang is not alone; dozens of Chinese companies are looking to Latin America for opportunities for growth. Mobike recently debuted its bikeshare system in the La Reina neighborhood of Santiago, Chile, for example.

Said Managing Partner of Magma PartnersNathan Lustig in the original Bloomberg article:

“We think Chinese acquisitions will be an important exit strategy for startup investors in Latin America. This will be a major theme over the next five years.”

Magma Partners recently announced the opening of a new Sino-Latin American accelerator in partnership with Kr Space that will help Chinese and Latin American entrepreneurs learn to launch in each other’s markets.

Read more about Chinese investment in Latin America:

Nathan Lustig’s blog

TechCrunch coverage of Didi Chuxing acquisition of 99

 

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