Panama
South America · Pop. 4.5M
Largest rounds
Largest funding rounds in Panama
A live treemap of $100M+ rounds from the Dealroom API. Each cell is one round into a Panama-headquartered company, grouped by Dealroom sector.
Largest rounds in Panama - 2026
Startup funnel
Panama's power-law funnel
From the first cheque written to a $10B+ outcome. Each arrow shows what fraction of companies at one stage graduate to the next, tracked by founding cohort.
* Conversion rates are derived from current counts.
VC investment
How much venture capital flows into Panama
VC investment into Panama-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage. Live from the Dealroom Next Gen API.
Notable companies
Top private companies in Panama
Up to 20 names per tier from Dealroom's tracked dataset. Decacorns are valued $10B+, unicorns $1B+, thoroughbreds have crossed $100M in revenue.
Academia
Panama's academic flywheel
Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Panama.
Location comparison
How Panama stacks up
Compare Panama with similarly sized ecosystems in South America — switch between combined EV, 5-year EV growth, and a growth × size view. Expand the table for the full ranking.
Combined enterprise value of each ecosystem.
Top ecosystems in South America ranked by combined EV. Panama's row is highlighted (#12).
| # | Ecosystem | Combined EV | 5-yr EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | Brazil | $234B | 15.2× | 33 | $2B | 3,981 |
| 2 | Argentina | $141B | 7.1× | 9 | $150.9M | 772 |
| 3 | Mexico | $46.1B | 10.2× | 13 | $1.4B | 1,285 |
| 4 | Colombia | $21.1B | 16.5× | 2 | $206.6M | 680 |
| 5 | Chile | $17.8B | 12.2× | 3 | $189.9M | 850 |
| 6 | El Salvador | $12.6B | — | 1 | $72.8M | 34 |
| 7 | Cayman Islands | $10.8B | 152.0× | 4 | $184.5M | 108 |
| 8 | British Virgin Islands | $5.9B | 65.5× | 1 | $267.9M | 126 |
| 9 | Uruguay | $4.6B | 15.7× | 2 | $38.2M | 94 |
| 10 | Bermuda | $2.7B | 5.5× | 1 | $22M | 29 |
| 11 | Ecuador | $1.6B | — | 1 | $600K | 61 |
| 14 | Panama | $936.6M | — | 1 | $9.5M | 71 |
Premium analytics
What we don't show on this page (yet)
Sector breakdowns, founder origins, AI-talent leaderboards and live deal flow are gated to logged-in Dealroom users. Book a demo to access the full Panama dataset — or see a sample on the Dealroom app.
Get the full Panama ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.