Magma Partners Announces $15M Fund to Support Startups in Latin America, Launches First China-Latin America Accelerator
Magma Fund II will support pre-seed and early-seed stage companies in Latin America; the China-Latin American accelerator is in partnership with co-working space Kr Space.
SANTIAGO, Chile, and LOS ANGELES, February 7, 2018-- Magma Partners (http://www.magmapartners.com), an early stage venture capital firm with offices in the U.S. and Latin America, announced the first close of its second $15M fund to continue supporting the growth of U.S. incorporated startups with technology and sales teams based in Latin America. Magma Partners also announces the launch of the Sino-Latin America Accelerator in partnership with Chinese co-working space Kr Space and with the support of the Chinese government, the first accelerator from China to Latin America. Companies seeking to be part of the Sino-Latin America Accelerator can apply anytime at http://www.magmapartners.com/apply.
Since 2014, Magma Partners has supported 32 pre-seed and seed-stage companies with founders from ten countries. “We believe that talent is evenly distributed, but opportunity isn't,” said Nathan Lustig, Magma’s Managing Partner. “We’re using our resources and connections in Latin America, the United States, and China to help Latin American entrepreneurs reach their goals.” With venture capital investments doubling in 2017, Latin America is at an inflection point. U.S. and Chinese venture capitalists have also made sizeable investments in the region.
"Cooperation between China and Latin America has never been more important, and we believe that the Sino-Latin America Accelerator will be a key building block for both startup ecosystems," said Jie Hao, Partner, Magma Partners. "The Sino-Latin America Accelerator represents an opportunity for Kr Space to continue supporting Chinese entrepreneurs in new ways and in new markets like Latin America, which we see as a strategic next step over the next decade," said Dong Bo, Vice President, Kr Space.
The Sino-Latin America accelerator will have a physical presence within Kr Space in Shanghai and Beijing, host monthly events, and provide a space for both investors and Chinese and Latin American entrepreneurs to come together. In addition to helping Chinese entrepreneurs access the Latin American market, the accelerator program will be an opportunity for Latin American entrepreneurs to learn about doing business in China. The accelerator will help entrepreneurs source products, services, technology, and investment from China.
Magma Fund II plans to invest in 60 pre-seed and seed-stage companies over the next three years in the Latin American region. The firm specializes in companies with technology and sales teams based in Latin America who target the US market and B2B companies that target the Latin American market. Magma Partners invests between $25,000 and $2,000,000 in each company. For more information, visit http://magmapartners.com.
About Magma Partners
Founded in 2014 by Nathan Lustig, Francisco Saenz and Diego Philippi, Magma Partners is a fully private US/Latin American venture capital fund that invests in the best startups targeting the U.S. market that have technology and sales teams in Latin America. Magma Fund I invested in 32 pre-seed and seed-stage companies with founders from ten countries. These companies are growing quickly and have generated more than $15M in annual sales. Magma Partners has offices in California, Argentina, Chile, Colombia, Mexico, and China.
For press email: press(at)magmapartners.com
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