New corporate vehicles for founders in Latin America

The average founder in Latin America evaluates their corporate structure too late. By the time the first term sheet arrives, the costs of restructuring can be huge.

A well-designed local SAS can be perfect for the early years. But if there is regional ambition, the holding structure should be considered from day one.

The criterion is not to choose the most sophisticated vehicle, but the one that supports the next round without having to be entirely rewritten.