Magma Partners, an early stage venture capital firm with offices in the U.S. and Latin America, has held the first close of its second $15M fund.
The new fund will continue supporting the growth of U.S. incorporated startups with technology and sales teams based in Latin America. 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 invests between $25k and $2m in each company.
The firm also launched 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.
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 and will help entrepreneurs source products, services, technology, and investment from China.
Companies can apply at http://www.magmapartners.com/apply.
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 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.
The firm has offices in California, Argentina, Chile, Colombia, Mexico, and China.