Magma Partners Q3 Update: 7 New Investments as Silicon Valley looks South

Q3 was headlined by 7 investments, including 2 follow ons into existing portfolio companies. We did our first investment in Brazil, deepened investments in Mexico and other regions in Latin America.

Latin American tech is on fire in 2019, headlined by Softbank’s continued disruption of the market, having invested in 16 deals in the past 16 weeks. This is pushing big funds like Goldman Sachs, Credit Suisse, Riverwood, Temasek, a16z, Sequoia and more to invest more quickly in order to get into deals.  You can read more about these headline deals in our new monthly series in TechCrunch, written by Magma’s Sophia Wood.

JT and Sophia celebrate Fiestas Patrias at our Santiago office.

New Investments

InEvent – Brazil/USA. CRM for Corporate Events. Our first investment in Brazil and is a SaaS with a Brazilian tech team targeting the US market.

MiPos – Ecuador/Mexico. Point of Sale system for restaurants in Latin America. With the proliferation of Rappi, Uber Eats, Domicilios, and other online ordering systems, restaurants have a tablet for each service. MiPos integrates it all.

Treble.ai – Colombia/USA. Mobile first customer service for ecommerce.

Marqii – US/Chile. SaaS for US-based restaurants to automatically update their menus and pricing on all online ordering websites.

Magma Events 2019

Lendit – Dec 4-5, Miami. The premier fintech conference in the US gets a Latin American edition. 

WeXchange – Nov 14-16, Asunción. The IDB is leading a conference for women entrepreneurs.

Pedro Pablo travels to Israel to meet entrepreneurs and investors 

Eugenio and Pedro share tacos in Mexico City.

Our Partner, Pedro Pablo, recently traveled to Tel Aviv to meet local stakeholders and get to know the thriving local ecosystem.

Nathan Lustig attends YCombinator Demo Day

Our Managing Partner, Nate, traveled to San Francisco last month to participate in YCombinator’s Summer 2019 Demo Day, where he met Latin American companies. Every year more Latin American startups participate in this prestigious program (16 this batch!). We have previously invested 10 YC companies, including in Ubits and BrainHi who also participated in previous batches. 

JT and Sophia were mentors at Village Capital’s Finance Forward program in Santiago

Sophia and JT represent Magma at Banco Bci’s Centro Nace.

Our Principals, JT and Sophia, were invited to act as mentors for fintech startups from across Latin America in a workshop on Investment Readiness for Village Capital’s first Finance Forward program. The program offers workshops in four Latin American cities, as well as opportunities for financing at the end of the program for the top startups. Sophia and JT met with several startups from Mexico, Brazil, Chile, and Colombia during the event to help them prepare to meet with investors.

OmniBnk opens office in Mexico

OmniBnk continues to be one of our top-performing companies, expanding into the Mexican market with our Venture Partner, Eugenio Perea, as Country Manager. They announced their expansion into the Colombian market in May 2019 and continued to grow in Q3 this year.

Magma Google Case Study + Ciara Middleton’s Lessons Learned

We published our case study on how we use Google Cloud to facilitate remote work at Magma Partners and how we collaborate with our startups across borders. We depend on GSuite for everything from investment documents to pitch decks and we cover all this work in the case study.

We also published an article written by our intern, Ciara Middleton, who joined us in June/July 2019 to help out the content team. She listened to over 20 podcast episodes and turned the lessons she learned into a blog post to help entrepreneurs learn from the experiences of others. Read more about Ciara’s tips here

Crossing Borders Podcast Highlights 

We had a very busy few months on the podcast – thanks to Angel and Josefina for working so hard on making this program possible. Here were a few of the guests we had this quarter:

New Articles on Nathan Lustig’s Blog

We published a few more deep dives on Latin American industries and trends this quarter. 

If you want to get in touch with Magma Partners, you can reach us here. Thanks for reading!

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