Venture Capital (VC) and private equity fund managers seek to boost financial returns by imposing better management and efficiency on those companies that they invest in. The objective is to deliver higher revenues and/or lower costs and/or new business models. Often, technological innovation can deliver these outcomes. While innovation is now a focus of certain VC funds, private equity in Latin America has tended to concentrate on traditional sectors. However, the variety and scale of opportunities available suggests that a change of focus by the PE funds is well overdue.