Panama
South America · Pop. 4.5M
1 Overview
2 Largest rounds
Largest funding rounds in Panama
A live treemap of $15M+ rounds from the Dealroom API. Each cell is one round into a Panama-headquartered company, grouped by Dealroom sector.
Largest rounds in Panama - 2026
3 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.
4 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.
5 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.
6 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.
| # | University | City | Founders | Companies |
|---|---|---|---|---|
| 1 | University of Panama | — | 4 | 5 |
| 2 | Academia Interamericana de Panamá | — | 4 | 4 |
| 3 | Universidad Interamericana de Panamá | Panama | 4 | 4 |
7 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 | 3,988 |
| 2 | Argentina | $141B | 7.1× | 9 | $155.9M | 773 |
| 3 | Mexico | $45.2B | 10.0× | 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× | 5 | $184.5M | 108 |
| 8 | British Virgin Islands | $5.9B | 65.5× | 1 | $267.9M | 127 |
| 9 | Uruguay | $4.6B | 15.7× | 2 | $38.2M | 95 |
| 10 | Bermuda | $2.7B | 5.5× | 1 | $22M | 29 |
| 11 | Ecuador | $1.6B | — | 1 | $600K | 61 |
| 14 | Panama | $936.6M | — | 1 | $9.5M | 71 |
8 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.
More data
Explore Dealroom data →Get the full Panama ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.