PE/VC firms in LatAm have an optimistic outlook going into 2021, with nearly two-thirds expecting investment activity to improve and 40% shifting their focus to new investments. COVID-19 remains the biggest threat, but survey respondents also identified political upheaval as a significant risk. In line with other regions, Healthcare and IT are the top two sectors of focus. Although 19% reported that ESG factors are not a consideration currently, ESG integration continues to accelerate, with more than double that number (42%) planning to improve ESG-related factors in their current portfolio.