Copec WIND Ventures Survey: China Surges as Top Expansion Market; LatAm Confidence Hits New High

Annual survey of global VCs finds 83% of VCs surveyed are more optimistic about Innovation in Latin America than a year ago

SAN FRANCISCO, Aug. 26, 2026 /PRNewswire/ -- Copec WIND Ventures, Copec's strategic venture capital arm, today released the results of its Sixth Annual Growth Markets Survey. The survey, which polled venture capital investors, tracks how VCs define and evaluate global startup expansion markets, with a particular focus on Latin America.

This year's survey captures a significant shift in global VC sentiment: China has risen dramatically to the top of the perceived expansion market, while Latin America holds firm at #2, and investor enthusiasm for the region's innovation ecosystem continues to build.

"When 83% of global VCs say they're more optimistic about Latin America than a year ago, that's not sentiment, it's the market catching up to fundamentals that have been building for years," said Brian Walsh, Global Head of Copec WIND Ventures. "We're talking about 662 million consumers across a $7.1 trillion economy, 84% internet penetration, and nearly $14 billion invested in digital infrastructure in 2024 alone - up 111% since 2019, with AWS, Microsoft, Google, Oracle, and NVIDIA all actively expanding in the region. Layer on top of that one of the world's most abundant and cost-competitive clean energy grids, and you have the ingredients for the next generation of globally significant technology companies. Latin America isn't emerging anymore. It's arrived."  

Key Survey Findings

What makes a "good" expansion market hasn't changed, but large market size is pulling further ahead. For the sixth consecutive year, VCs have defined "good startup expansion markets" with remarkable consistency. Large market size ranked as the most important attribute, selected as the top choice by 90% of respondents, a figure that has grown steadily since the survey's inception.

VC optimism about Latin American innovation reaches a new high. 83% of VCs reported being more optimistic about the success of innovation in Latin America than they were a year ago- a 26% increase from 2025. This marks the strongest reading since WIND Ventures began tracking this sentiment.

Fintech dominates; energy-tech rises as a serious contender. Fintech remains the clear standout sector for Latin American VC investment, with 90% of respondents ranking it as their top choice. Energy tech is rising strongly as the #2 sector, reflecting growing interest in the region's energy transition opportunities.

China surges 91% YoY to rank #1 outside North America and Europe. VC perception of China as the top expansion market outside of North America and Europe surged 91% year-over-year, catapulting it to the #1 position. Latin America held strong at #2 (up 34%), followed by India. Notably, perceptions of the Middle East and Israel declined sharply, each falling to 0%.

Global VC investment outlook is bullish. 79% of VCs expect the pace of global venture capital investment to increase in 2026, up 16% from last year's survey. Only 6% anticipate a decline.

The full findings are available here:  https://speakerdeck.com/mgracialagos/tailwind-awards-2026 

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.

About Copec WIND Ventures

Based in San Francisco and London, 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 for global startups and scaleups within the new mobility, energy, and retail sectors. Visit windventures.vc or follow us on Linkedin and Twitter.

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SOURCE Copec WIND Ventures