The Tech Supercycle: Where Capital Meets Innovation | Global Conference 2026

Scott Sobel (Valor Capital Group):

• Valor Capital is a $2B+ asset manager focused on bridging US and Latin American markets, currently on its fifth venture fund and third growth fund.
• Regional venture capital investment peaked at $15B, dropped to $3–$5B annually, and is projected to rebound due to strong talent and market outcomes.
• Key market drivers include a population of 650M+, a GDP exceeding $6.3T, and high mobile/social media engagement.
• Portfolio companies have achieved major exits, including MercadoLibre ($100B market cap), Nubank ($70B market cap), and Stone, the largest fintech IPO on NASDAQ ($9B in 2018).
• Latin American startups attract over $16B in follow-on funding from US institutional investors (e.g., Goldman Sachs, Blackstone) due to cultural and capital market proximity.
• Valuation arbitrage exists between Latin American private markets and US public markets, allowing for higher multiples upon IPO.

Marlena Górezar (Story):

• Story is a female-founded Mexican unicorn and the first female-founded fintech unicorn in Mexico.
• The platform serves ~5M users, offering financial products, mobility, and healthcare partnerships (e.g., with Dr. Simi).
• Story achieved a 99% approval rate on credit lines by utilizing proprietary AI-driven underwriting models rather than traditional credit bureaus.
• The company became profitable in March 2025, funded entirely by deposits and internal operations, distinguishing it from other unicorns still seeking capital.
• Data flywheel: User engagement generates proprietary behavioral data (e.g., from the "Choque" game) that improves risk modeling and reduces credit default rates.
• Market headwinds: US venture investment in Latin America decreased significantly post-2023, though demand for capital remains high among resilient founders.

Mayor Francis Suarez (Miami, 2017–2025):

• Miami's economic growth during his tenure included a 150% increase in the tax base, rising from $40B to over $120B.
• Key policy drivers for ecosystem growth were low taxes, physical safety initiatives, and a pro-innovation regulatory stance.
• Homicide rates in Miami dropped from ~80 (2009) to a record low of 24 (2025), aided by ShotSpotter gunfire detection and geofencing technology.
• Suarez argues that investment safety is inextricably linked to physical safety; confidence in the ecosystem requires citizens to feel secure without bodyguards or armored vehicles.
• Latin American governments, particularly Brazil's Central Bank, have driven fintech success through deregulation and the "Pix" payment system, which processes 250M transactions daily (exceeding Visa/MasterCard/Amex combined).
• Policy instability (socialism vs. capitalism narratives) creates uncertainty that deters investment, whereas private-sector-led democratization of opportunity serves as a superior antidote.

Andre Veoso (Drumwave):

• Drumwave is building a full-stack platform to monetize data as an ownable asset, creating the "DWallet" and data savings accounts for individuals.
• The company proposes a paradigm shift where consumers, who currently pay to process their own data, receive 50% of the value generated by it.
• Veoso distinguishes between "data from the past" (subject to deletion rights like GDPR/CCPA) and "data from the future" (owned by the user under new terms).
• AI sovereignty in the Western Hemisphere relies on Brazil's abundant clean renewable energy to provide low-cost compute for the masses.
• Drumwave argues that cloud providers function as unregulated banks; if data is an asset, the cloud infrastructure must be regulated as banking.

Strategic Trends & Forward-Looking Statements:

• Reverse Innovation: Latin American firms (e.g., Nubank, CloudWalk, WellHub) are refining resilient, profitable business models in local markets before expanding to the US and global markets.
• Capital Efficiency: Latin American founders prioritize profitability and cash flow earlier than US counterparts due to macroeconomic headwinds and currency volatility.
• Energy & AI: Brazil's renewable energy infrastructure is positioned as a foundational layer for AI sovereignty and global AI adoption.
• Market Outlook: Despite macro volatility and reputational challenges, the region's deep talent pool and unbanked populations (e.g., 50% in Mexico) offer significant growth potential for fintech and data economies.
• Policy Impact: Successful scaling in Latin America correlates with regulatory frameworks that open markets (e.g., Pix) rather than restrictive socialism or unchecked capitalism.