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.

3. Nathan wrote an article called From Seed to Series A for TechCrunch

JT, Angel, Nathan in Chile office

It’s hard to raise money, but it’s even hard for Latin American founders. We covered the truth about raising money in the region for TechCrunch. This is a great companion piece to Jonathan Shieber’s article about why A16Z and everyone else is investing in Latin America.

4. Four New Investments: Dataplor, Moons, Vozy

Magma team

We invested in four new companies, two in Mexico and two in Colombia.

Dataplor – Dataplor’s army of explorers can collect data for companies like Google, American Express and more across Latin America. TechCrunch, LatAm List. Magma was the only Latin American VC investing, along with 3 US funds.

Moons – Moons are 3D printed clear aligners like Invisalign, for the Mexican market.

Vozy – Medellin based company that has a voice assistant to help companies solve customer service and business challenges. Magma led this round, along with Colombian investors, Parallel18 and family offices.

5. We published our Magma Values and Magma Manifesto

Magma meeting in Chile and Mexico

One of the biggest predictors of success that we’ve seen so far is working with founders that share our values. When evaluating an investment, we spend time sharing our values and listening to the values that the founders and their team bring to the table. Read our Magma Values and Magma Manifesto on our blog.

6. Colombia and Mexico overtook Chile as our most invested markets

Mexico and Colombia, followed by Chile are Magma’s main markets
Fintech is Magma’s most invested industry, followed by Marketplaces, which are mostly US Marketplaces with Latin American technology and/or sales teams.

7. Top Crossing Borders Podcast Episodes

Cory Siskind, Base Operations – Using Technology to Secure Global Workforces

Daniel Bilbao, Truora – Fighting Fraud in Latin America

Mike Packer – QED Investors – How QED has Built a Fintech Niche in Latin America

8. Rebus‘ Juliana Villalba and Magma’s Nathan Lustig held an event in Bogota about Raising Money in Latin America in conjunction with AWS.

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