Month: August 2019

Magma Partners Q2 Update: 4 New Investments, $18M in New Follow on Funding

In Q1, we built out our Mexico team, did four new investments and our portfolio companies continued to be successful. Q2 2019 buildings on Q1, with 4 new investments, two in Colombia and two Mexico, headlined by Dataplor and Vozy. We spent time in Mexico, Colombia, Ecuador, Chile, US and Argentina during Q2.

We also had our first exit out of our second fund, with Kushki
Pagos’ acquisition of Chile’s QVO to expand into the Chilean market. Magma portfolio companies have received $65M in follow on funding from funds like Accel, Kaszek, YC, Techstars and more, and sell $35M+ each year.

Kushki Pagos acquired QVO, Magma’s first exit out of Fund II

Magma invested in QVO, a Stripe clone for Chile, in late 2018. We met Kushki Pagos, a Stripe clone for Colombia, Ecuador and Mexico around the same time and help make this deal possible, investing in Kushki in conjunction with the acquisition.

2. Sophia wrote What the VC Landscape is Really Like for Women Entrepreneurs in Latin America

Sophia Wood

Sophia’s article covered the day to day of being a female founder in the region and the experience of Juliana Villalba, Marta Forero, Maite Muñiz, Maria Paz Gillet and many more entrepreneurs in her Crunchbase article.

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Magma China Trip: The Future of FinTech and Retail

“I went to China and I saw the future.” That’s what David Velez, cofounder of Nubank Latin America’s largest neobank, valued at $10B, said at TechCrunch disrupt in 2019 after traveling to China early in his startup’s journey.

Francisco and I had a similar experience when we traveled to China in 2017 and 2018 and spent time with Fintech, eCommerce, social media, blockchain and other startups in China’s dynamic market.

We believe that China and Southeast Asia are more similar to Latin America than the US. They suffer the same problems: Mega-cities with poor infrastructure, lack of good education, many unbanked and underbanked citizens, and much more.

Traveling to China allows us an unfair advantage to see into the future, as China solved many of the problems that Latin America deals with today between 5-10 years ago.

Jie Hao, our Beijing-based partner who many of you met at the 2019 Magma Summit, and Magma Principal JT LI will host us in Shanghai and Hangzhou where we’ll meet startups, VCs and big companies creating the future of FinTech and Retail in the world’s most advanced technology market.

Spend a week with Magma LPs, top founders and team members to really understand where the world is going. And in tpyical Magma fashion, we’ll take time to get to know China outside of the tech space, visiting some of China’s most interesting cultural centers.

Space is limited and reserved for Magma LPs and Founders first. Please book your reservation to save your place! If you have any questions, please let us know! If you’re interested in spending a week with us in China and are not part of the Magma ecosystem, please reach out and tell us a bit about yourself.

Schedule

Sunday March 29th to Saturday April 4th, starting and ending in Shanghai

Shanghai, Finance and culture hub

Sunday Arrival Shanghai, Welcome Dinner

Monday to Wednesday Shanghai, Future of Fintech and Tourism opportunities

Wednesday April 1, evening, Bullet train to Hangzhou, dinner

Hangzhou, China’s most beautiful city, home of Alibaba and a booming tech industry

Thursday/Friday – Future of retail and eCommerce, closing dinner, tour of Westlake

Saturday morning, bullet train to Shanghai

Costs:

Investor: $10,000

Entrepreneur: $7000

Included: 3 meals per day, 4 and 5 star hotel accommodations, tours of cultural sites, transport inside China.

Not Included: Flights to and from Shanghai are at own expense

Reserve your trip: https://payform.me/QwlKHY4

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