The annual LAVCA Scorecard ranks business environments for private equity and venture capital activity of 12 countries in Latin America on a scale of 1-100 (with 100 being the most investment friendly) based on indicators including taxation, minority shareholder rights, restrictions on institutional investors, entrepreneurship and capital markets development.

Chile, Brazil and Mexico lead the annual ranking in the 2011 LAVCA Scorecard.

However, both Chile and Brazil saw small decreases in their overall scores based on a decline in the indicators on laws on fund formation and restrictions on local institutional investors, respectively.

Rounding out the top five countries in this year’s ranking were Colombia and Uruguay, with no change in overall scores.

The sixth edition of the Annual LAVCA Scorecard was produced in collaboration with the Economic Intelligence Unit, the Multilateral Investment Fund and the Andean Development Corporation.

The 2011 LAVCA Scorecard is available for download here.

Click here to read the 2011 LAVCA Scorecard press release.