In total, 1.5% of all venture dollars so far in 2022 have been allocated to Latin American-founded companies, a drop from 2.5% last year, according to the Crunchbase analysis.

The somewhat encouraging news is that funding for early-stage Latin American-founded companies is on pace to exceed 2021’s total; much of the decline that we see in the above numbers came from a decrease in late-stage financing. The reality remains that women and minorities are not faring well right now when it comes to raising VC, and promises of change have dissipated. Last year, Latin American-founded U.S. companies raised $8.5 billion. Through the end of Q3 2022, that number stands at $2.7 billion, meaning it won’t even come close to passing last year’s record-breaking sum.

Latin American founders see VC funding drop as investors retreat from underrepresented cohorts by Dominic-Madori Davis originally published on TechCrunch