Top 5 Transportation VC Funds &amp; Investors in Costa Rica (October 2026)

Carao was founded in 2012 in San José, Costa Rica and is led by Allan Boruchowicz. It is a pioneering and leading VC firm in Central America, with active investments in startups in the software, biotech, healthtech, fintech, artificial intelligence (AI), construction tech, and other industries. Carao has a distinctive business model specially designed to invest in early-stage venture opportunities in small- and medium-sized countries in LatAm, a market with significant potential but underdeveloped financial resources for high-potential emerging companies. Its differentiated investment approach combines best practices from early-stage VC firms, venture-building, and startup accelerator programs into a value proposition for both promising startups and sophisticated investors with an interest in frontier markets. Carao managed one of the largest and most active angel investor networks in LatAm, the Carao Ventures Investor Club, which was comprised of 40+ members by the end of 2020, predominantly business owners, high-level corporate executives, high net-worth individuals, and family offices from Central America, Colombia, the U.S., Switzerland, and Italy. As of June 2021, Carao launched Carao Ventures Fund I, a $35 million VC vehicle focused on Latin America (the "Fund"). The Fund’s intended geographic focus consists of: (i) primarily, Central America (including Panama), North Andean region (Colombia, Peru, and Ecuador), and the Dominican Republic; (ii) secondarily, investment opportunities in Argentina, Chile, and other small- and medium-sized LatAm countries (except for Brazil); and (iii) lastly, investment opportunities in Mexico or led by founders from the Target Markets in the U.S. shall be considered as Opportunistic Investments.

Investment focus

Industry: Financial Services, FinTech, Software
Stage:Seed, Pre-Seed, Venture - Series Unknown
Geography: United States, Costa Rica, Mexico

Investor stats

Total investments: 89
Round size: Seed $500k–$5.5M; Pre-Seed $30k–$1.5M; Venture - Series Unknown $160k–$10M
Lead/follow: 40% lead, 60% follow
Last fund: May invest from a new fund soon — raised $35M in 2021

Portfolio highlights

Braven — Braven turns every submission into a pre-analyzed, traceable decision, and every book into a live, provable view. Built for MGAs and reinsurers that do their own underwriting.
aviva — Aviva is building an AI-powered digital bank for Latin America’s underserved communities. While determined to fuel Latin America’s ongoing emergence of a new middle class with a fully-fledged portfolio of inclusive financial services, Aviva’s initial go-to-market concentrates on unsecured credit products for individuals and nano-businesses inMexico.As most of the underbanked 40+ million Mexicans live in small and medium-sized towns, Aviva builds a bridge to those living in remote communities with its physical onboarding kiosks. These nano-branches provide a documentless 3-minute video onboarding for everyone in need of liquidity. Novel AI-based technology, including natural language processing, allows Aviva to match customers’ spoken word to the fields of a comprehensive real-time credit application. Transforming speech to text and inferring emotions and personality from the visual layer of the application video gives Aviva an edge in scoring thin-file customers. Leveraging these novel risk models, Aviva aims to provide the lowest interest rates available to today’s underserved.
Crabi — Full stack, digital car insurance

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CARICACO is a startup powerhouse. We support the best entrepreneurs in Central America with capital, mentors and connections. We seek to be the bridge that connects early stage startups with new markets and the best investment funds/accelerators.

Investment focus

Industry: Software, FinTech, Financial Services
Stage:Pre-Seed, Seed
Geography: Costa Rica, El Salvador, Argentina

Investor stats

Total investments: 15
Round size: Seed $2M–$3.4M; Pre-Seed $50k–$7M
Lead/follow: 27% lead, 73% follow

Portfolio highlights

Tumoni — Tumoni is a fintech company that offers digital banking services through free remittances.
Paggo — Providing access to mobile payments for SME's through an app and mPOS that accepts debit and credit cards, create link payments for e-commerce, will come with a historical sales dashboard and financial ratios
Ábaco — Ábaco is a fintech company that offers financial services with capital, payments & platform solutions.

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Grupo Alta is an investment fund composed of businessmen and entrepreneurs of Central America. The Fund identifies, acquires and operates businesses. It provides liquidity for business owners and contributes knowledge of the Central American region, providing strategic guidance and tangible value. We acknowledge and value the deep relationshipbetween owners and their customers, employees, and community – Grupo Alta seeks to foment and stregnthen these commitments.

Investment focus

Industry: B2B, Drones, Food Delivery
Stage:Pre-Seed
Geography: Costa Rica

Investor stats

Total investments: 1
Lead/follow: 0% lead, 100% follow

Portfolio highlights

GoPato — GoPato is a hyperlocal food delivery platform powered by drone technology. Founded in 2015, the company is transforming the way to order food around a city with autonomous delivery drones under 30 minutes. Currently GoPato get the authorization to start commercial operation BVLOS in the urban area of San José Costa Rica with a partnership withMcdonald's.Awarded by Forbes Central America as one of 30 business promises and mentioned by all national newspapers and media, GoPato is in charge of being your right hand.

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Invert Up is the first private seed capital fund in Costa Rica that invests in early-stage startups, enlisted in the National Stock exchange Invert Up is a spin off of Parque Tec founded in 2015 and is based in San José, Costa Rica.

Investment focus

Industry: Internet, Advertising, News
Stage:Seed, Series A, Series B
Geography: Costa Rica, United States

Investor stats

Total investments: 10
Lead/follow: 70% lead, 30% follow

Portfolio highlights

Quantik — Quantik is a video on demand platform, full of original content such as web series, comedy sketches, stand up comedy shows, short films and documentaries, for the Latin American audiences. They are producers, filmmakers and creative writers.
Tico Fut — Tico Fut is a sports and entertainment platform that allows you to play virtual football with players from around the world.
Aditi Multimedia — Aditi Multimedia is a Costa Rican multimedia startup that has created the network of interactive kiosks Kiboo, which includes ATM-type machines enabling its users to access the latest entertainment content market and more.

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