The Latin America-focused investment firm plans to invest in 60 tech startups across the region.
Magma is not an impact investor, per se, but managing partner Nathan Lustig argues that all startup investing in Latin America is impact investing.
With this, its second fund, Magma will focus on fintech and blockchain ventures. “The founders we support will be able to build real, sustainable businesses with teams in Latin America, not only helping stop the brain drain, but also taking the best parts of global entrepreneurial culture and helping make them more common in Latin America,” Lustig tells ImpactAlpha.
Magma is also launching an accelerator program in partnership with Chinese co-working space provider Kr Space and Chinese government support. It will focus on helping Latin American startups learn about doing business in China.